How Envestnet Is Making Use of Yodlee’s Acquisition

When Envestnet (a leading provider of unified wealth management technology and services to financial advisors) acquired Yodlee (the leading cloud-based platform driving digital financial innovation) in 2015, a lot of questions were raised regarding the acquisition and about how exactly this deal will impact investments and client experience in the future. Finally giving an answer to these, Envestnet recently explained how the company is planning to take advantage of the acquisition at the Annual Advisor Summit in Chicago.

Anil Arora, Envestnet Yodlee Vice Chairman and Chief Executive said that Yodlee has completed an initial integration with the Envestnet platform, and will be able to provide its clients the option of account integration, providing them with a 360-degree view of their finances using Yodlee’s FastLink tool by July. Clients’ user-permissioned and credentialed accounts utilizing this Yodlee capability will be updated daily on the platform. Additionally, the data will flow seamlessly into goals-based planning tools and account opening processes, and will be available for inclusion in household performance reporting. A few of the personal financial management tools that will be available on the Investor Suite include Budgets, Net Worth and Cash Flow Analysis, enabling deeper client engagement.

The wealth management company plans to begin integrating Yodlee's data aggregation services in July, followed by its Tamarac division. The process will involve incorporation of Yodlee’s core set of FinApps, the company's various personal finance widgets, onto Envestnet's dashboard, and will have the data flow through these applications by the end of the year. Yodlee’s FinApps leverage a common financial data platform but create unique and differentiated experiences for various user segments from a desktop, tablet or mobile device. These apps will be a part of the Investor Suite which is a new, upgraded set of cloud-based tools. Investor Suite will also update user navigation and will add a planning module that will include goal tracking and alerts.

Envestnet and Yodlee form a powerful combination which reinforces our market leadership, and uniquely positions us to empower advisors and financial enterprises to provide better outcomes for their clients, said Anil Arora, Vice Chairman and Chief Executive, Envestnet | Yodlee. This initial release enables enterprises, advisors and their clients to experience first-hand how Yodlee’s data aggregation and personal financial management applications have added to the breadth and depth of our cloud-based technology offering.

Envestnet also launched The Essential Advisor which advocates the quantifiable value professional financial advisors deliver in helping consumers reach their financial goals at the Annual Advisor Summit.

About Envestnet:

Envestnet, Inc. (NYSE: ENV) is a leading provider of unified wealth management technology and services to investment advisors. Its open-architecture platforms unify and fortify the wealth management process, delivering unparalleled flexibility, accuracy, performance, and value. Envestnet’s solutions enable the transformation of wealth management into a transparent, independent, objective, and fully-aligned standard of care, and empower advisors to deliver better outcomes.

Envestnet’s Advisor Suite® software empowers financial advisors to better manage client outcomes and strengthen their practices. Envestnet provides institutional-quality research and advanced portfolio solutions through its Portfolio Management Consultants group, Envestnet | PMC®. Envestnet | Tamarac provides leading rebalancing, reporting and practice management software. Envestnet | Yodlee is a leading data aggregation and data analytics platform powering dynamic, cloud-based innovation for digital financial services. More than 1,000 companies, including 12 of the 20 largest US banks and hundreds of Internet services companies, subscribe to the Envestnet | Yodlee platform to power personalized financial apps and services for millions of consumers. Envestnet | Yodlee solutions help improve the speed and delivery of financial innovation, improve digital customer experiences, and drive better outcomes for our clients and their customers.

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