Envestnet Asset Management, Inc. (Chicago)

Name: Envestnet Asset Management, Inc.
Address: 35 East Wacker Drive, Suite 2400, Chicago, IL, 60601 2206
Telephone: 312-827-2800

Envestnet Asset Management, Inc. is a large advisory firm based in Chicago. It manages $126.48 billion of regulatory assets for 667,619 client accounts. It has been registered with the SEC as an adviser since 2004 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 49 other states.

Envestnet Asset Management provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for businesses and institutional clients, pension consulting services, selection of other advisers, publication of newsletters, and overlay portfolio management. It doesn't provide financial planning services to its clients. On top of advisory services, the firm also engages as investment research/portfolio management software.

Envestnet Asset Management: assets under management

The assets under management (AUM) of Envestnet Asset Management, Inc. is $126.48 billion, all of which is managed in discretionary accounts. The firm's AUM has grown by 8675% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $126.48 billion in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $189.46 thousand each.

Envestnet Asset Management has custody of $31.16 billion in cash and securities for 76,898 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 68% of the total AUM. The second-largest asset type is exchange traded securities, which make up 19% of the firm’s portfolio. Investments in cash and cash equivalents form 5% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Envestnet Asset Management, Inc. for their services and products based on a percentage of assets under management, subscription fees, and fixed fees. Subscribers pay a regular fee for the advisory firm’s newsletter or periodical. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients William C. Crager serves?

The firm provides services to individuals, investment companies, charitable organizations, high net worth individuals, corporations or other businesses, and state or municipal government entities. The largest group of clients of William C. Crager is individuals with 622,421 clients and $91.28 billion of assets under management. Among the 7 most similar advisory firms, Envestnet Asset Management has the highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $125.46 billion for 665,148 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 1% of the firm’s clients are foreign persons or businesses.

Envestnet Asset Management doesn't advise any private funds.

Careers at Envestnet Asset Management, Inc.

The company employs 671 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 66 employees are registered as investment adviser representatives with the state securities authorities.

There are 3 people with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

William C. Crager has been acting as President since 1 Sep 2001. Brandon Rockwell Thomas has served as the Chief Investment Officer since 1 Sep 2001. Joshua David Mayer joined the executive team most recently as the Chief Operating Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Inc. Envestnet	Shareholder	1 May 2000	75% - 100%	20-1409613
Inc. The Envestnet Group	Shareholder	1 May 2000	75% - 100%	36-4368834
James Winfield Lumberg	Vice president and managing director	1 May 2000	Other	2162416
Inc. Envestnet Asset Management Group	Shareholder	1 May 2000	75% - 100%	20-1409613
Judson T Bergman	Chairman, ceo and director	1 May 2001	Other	1175054
Judson Taft Bergman	Chairman, ceo and director	1 May 2001	Other	1175054
Brandon Rockwell Thomas	Chief investment officer/managing director	1 Sep 2001	Other	2071577
William C. Crager	President/managing director	1 Sep 2001	Other	4451682
Shelly S O'brien	Evp/general counsel/secretary	1 Mar 2002	Other	4520223
Shelly Ann Starr	Vice president, general counsel, secretary	1 Mar 2002	Other	4520223
Eric Bruce Fowler	Senior vice president	1 Apr 2002	Other	2366729
George Luis Alvin	Chief compliance officer	1 Sep 2002	Other	3059817
Jr. William Vito Rubino	Chief operating officer	1 Nov 2002	Other	4732182
Dale Joseph Seier	Controller	1 Jun 2003	Other	2441308
Scott David Grinis	Evp/chief technology officer	1 Dec 2004	Other	4301868
Jr. William Vito Rubino	Chief financial officer	1 Apr 2005	Other	4732182
Michael Glen Apker	Chief operating officer	1 Apr 2005	Other	4301863
Charles Floyd Tennant	Chief operating officer	1 Sep 2007	Other	2780727
Peter H Darrigo	Chief financial officer	1 Jun 2008	Other	2106490
Timothy Steven Stearns	Chief compliance officer	1 Jul 2009	Other	1327230
Debra Jane Devoe	Svp, chief compliance officer	1 Jan 2014	Other	2372586
Joshua David Mayer	Chief operating officer	1 Apr 2014	Other	6393057

Indirect Owners

The SEC currently registers 2 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Inc. Envestnet Group	Shareholder	1 Feb 2000	25% - 50%	36-4368834
L.P. Grp Ii	Shareholder	1 May 2004	25% - 50%	95-4780972

Based in Chicago

The principal office where Envestnet Asset Management, Inc. performs its advisory services is located at 35 East Wacker Drive, Suite 2400, Chicago, IL 60601 2206, which is also the mailing address of the firm. An additional office of the firm is in Boston, MA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 312-827-2800 or by fax 312-621-7089. The normal business hours are 8:00 a.m. - 5:00 p.m. on Monday - Friday. You can find more information about the New York firm at envestnet.com.