Envestnet Acquires Wheelhouse Analytics

Actionable Intelligence

Envestnet will combine Wheelhouse Analytics’ tools with Yodlee’s industry-leading data and analytics solutions to strengthen Envestnet’s data-driven insights to financial advisors, asset managers and enterprises enabling them to better manage their businesses and client relationships and deliver better outcomes to their clients.

“Wheelhouse Analytics’ solutions and the team’s expertise on the dynamics of asset managers is the ideal complement to Envestnet | Yodlee’s data solutions for wealth managers,” said Anil Arora, Vice Chairman of Envestnet and Chief Executive of Envestnet | Yodlee. “This acquisition enhances Envestnet | Yodlee’s capabilities with state of the art technology and domain expertise that allows us to revolutionize wealth management by introducing the most comprehensive and innovative set of analytics and contributes to the world-class data analytics capabilities we are building to serve all segments of the Financial Services industry.”

Since its founding in 2010, Wheelhouse Analytics has created a set of solutions that empower financial services firms with tools to extract key business insights to run their business better and provide timely and focused support to advisors. Wheelhouse Analytics’ innovative dashboards deliver segmentation analytics, multi-dimensional benchmarking, and practice pattern analyses that provide mission-critical insights to asset managers, enterprises and advisors.

DOL Compliance and Oversight Solutions

Wheelhouse Analytics’ existing offerings provide enterprises with fee and performance benchmarking, supporting fee rationalization and best interest client documentation. Additionally, Envestnet plans to extend Wheelhouse Analytics’ Deal Management and Intermediary Oversight platform to deliver a centralized data hub for product manufacturers and wealth management firms to collaborate on dealer fee agreement management and monitor product usage.

“We have built our company with a sharp focus on designing analytics and education tools that provide key business insights and enable our customers to become change agents in running their businesses more profitably while providing key support to investment advisors,” said Frank Coates, CEO of Wheelhouse Analytics, who will join Envestnet | Yodlee as Executive Managing Director. “Combining Wheelhouse capabilities with Envestnet’s Vantage enterprise data management solution, we can deliver the industry’s most comprehensive oversight and surveillance tool to support compliance with the DOL Fiduciary Rule. We also look forward to continuing to invest in enhancing and expanding our current set of solutions.”

Terms of the acquisition were not disclosed.

About Envestnet
Envestnet, Inc. (NYSE: ENV) is a leading provider of unified wealth management technology and services to investment advisors. Our open-architecture platforms unify and fortify the wealth management process, delivering unparalleled flexibility, accuracy, performance, and value. Envestnet 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 our 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 11 of the 20 largest U.S. 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 transform the speed and delivery of financial innovation, improve digital customer experiences, and drive better outcomes for our clients and their customers.

For more information on Envestnet, please visit www.envestnet.com and follow @ENVintel (https://twitter.com/envintel).