Chris Todd, CEO of Envestnet, joined Julie Cooling, Founder and CEO of RIA Channel, to discuss the future of Envestnet as he joins the newly private firm.
Envestnet went private in November 2024 when it was purchased by Bain Capital. Todd notes that they are fantastic owners who are invested in the firm’s growth story. Envestnet is building a new strategy as a newly private company, which the firm’s board suggests should include a larger footprint in artificial intelligence.
Envestnet has had some version of AI embedded in its products for years and will continue to expand in that area. Envestnet’s goal is to improve the experience of advisors and their clients.
Todd has 25 years of experience in enterprise technology but is newer to the wealth space. For a company to be successful, it simply needs to offer great products. Todd notes that a company can be great if it has successful products and wildly happy clients.
After numerous acquisitions in recent years, Envestnet is focused on integrating those firms into its operations. The priority will be integrating tools that clients believe will make the Envestnet suite more effective.
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