The inverted reverence dynamic at The In|Vest event and why Bill Crager is so over it
Tomorrow is here: Wirehouse execs and IBM types play groupies as robo-founders leaned back in their chairs
FAA
Hopefully the robo/ tech stuff fulfills the fiduciary standards. It may or may not…but it has not to date. I would short Envestnet because when you look under the hood…past the mediocre technology…to how they are compensated, how they trade, what the research etc…it is a short. They throw great parties and profess helping you build your business (who doesn’t). Don’t see how any advisor using Envestnet could defend they are acting in their client best interest. Up to the advisor to do their own DD but if you do – most likely you will come to the same conclusion.
Related Moves
Envestnet shares popped -- up 8% today -- after Wall Street filtered out bad news and staked its bet on confidence in a new team
The Berwyn, Pa., firm sugar-coated nothing but ended up with a sweet stock price result as analysts see good outweighing bad.
February 24, 2024 at 3:33 AM
Bill Crager is dropping CEO role after multiple shoes dropped; the company insists it was his 'decision' but vision, Yodlee future uncertain
The co-founder of the $5.3-trillion AUA outsourcer of software and investments was pressed to take the job under the most adverse circumstances, then second-guessed by stakeholders as he managed the cards he was dealt.
January 9, 2024 at 4:09 AM
Bill Crager makes critical hire of 'step back from the numbers,' Joshua Warren, replacing 'brother' Pete D'Arrigo at CFO; Warren had a big role at BlackRock -- Envestnet's biggest stakeholder
The Envestnet CEO gets 'very, very impressive' 43 year-old BlackRock exec; the New York asset manager happens to be Envestnet's largest stakeholder.
September 27, 2023 at 2:48 AM
Bill Crager shuffles the deck on management team created just seven months ago: Tony Leal is out of 'Big Three' inner circle, replaced by Morgan Stanley vet Rose Palazzo
The RIA software 'trailblazer' and co-founder of MoneyGuidePro has been working on departure for a year; will transition to a 'consultant,' company says
January 7, 2023 at 1:50 AM
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