Envestnet Announces Strategic Initiative to Offer Vestmark Functionality

Strategic Partnership Expands Choice in Wealth Management and Investment Advisory Solutions for Money Managers and Advisors

Chicago, IL - April 26, 2011 - Envestnet, Inc. (NYSE: ENV), a leading provider of innovative investment and practice management solutions for financial advisors, is pleased to announce an initiative to offer the trading and model management capabilities of Vestmark, a leading provider of unified wealth management and investment advisory technology. The partnership will expand the portfolio accounting, modeling and trading choices available as part of Envestnet's comprehensive wealth management platform, providing money managers and advisors with more choice and reflecting Envestnet's focus on delivering open architecture solutions across all areas of an advisor's business.

"Envestnet strives to deliver unparalleled capabilities for advisors, by providing top investment managers, a diverse range of investment products and an array of enhanced financial technology, all through a single, unified platform," said James Patrick, Envestnet's Managing Director for Advisor Managed Programs. "In the same way that Envestnet provides custodian- and product-neutral solutions, we endeavor to provide greater choice around portfolio accounting systems as more advisors seek the flexibility to mix and match solutions that work best for them."

Envestnet will begin by integrating with Vestmark's platform, with completion of the first phase expected by Summer, 2011.

"Vestmark's modern, modular platform architecture allows leading firms such as Envestnet to provide choice and seamlessly access our leading wealth management and investment advisory tools as part of an overall product offering," said Rob Klapprodt, President of Vestmark. "We look forward to leveraging the synergies between our firms, in order to support the creation and delivery of innovative investment products and solutions to Envestnet's advisory and broker-dealer clients and their investment manager partners."

About Envestnet (NYSE: ENV)
Envestnet, Inc. is a leading provider of technology-enabled investment and practice management solutions to financial advisors. Envestnet's technology is focused on addressing financial advisors' front-, middle- and back-office needs. Envestnet is headquartered in Chicago with offices in Boston, Denver, New York, Silicon Valley and Trivandrum, India. The firm has over $139 billion in total assets served and more than 910,000 investor accounts.* For more information on Envestnet, Inc. please go to www.envestnet.com.

About Vestmark


back