Three Finovate alums won their respective categories at the 2016 Wealth Management Awards. Envestnet was the big winner among our alums to be honored, winning a variety of categories: 401(k) Retirement Plan Support Services; Socially Responsible Investing (SRI)/Impact Investing; TAMPs; and Rebalancing. eMoney Advisor won the Client Portals and Innovation Platform categories, and Betterment for Business won the 401(k) Retirement Plan Support Services Technology category.
For Envestnet, the award comes just days after announcing its new collaboration with Charlotte, North Carolina’s Innovation Partners, who will use financial wellness solutions from Envestnet | Yodlee to enhance its wealth-management services. Elaine Lawrence, president and co-chief compliance officer for Innovation Partners, said the technology would help her firm “engage with clients according to their preferences, while also stepping in to demonstrate value as necessary.” Founded in 1999 and headquartered in Chicago (Envestnet) and Redwood City (Envestnet | Yodlee), Envestnet demonstrated its technology at FinovateFall 2016.
Based in Conshohocken, Pennsylvania, with an office in San Diego, California, eMoney Advisor was named one of the Best Places to Work in Philadelphia by the Philadelphia Business Journal and one of the Best Places to Work in San Diego by the San Diego Business Journal. More than 37,000 financial professionals use the eMoney Advisor platform to manage more than $1.7 trillion in assets. At FinovateFall 2014, the company demonstrated EMX, the next generation of its eMoney Advisor platform. eMoney Advisor was founded by Edmond Walters in 2000. Edward O’Brien took the helm as CEO in 2016.
Demonstrating the Multiple Goals Feature of its platform at FinovateFall 2011, Betterment made headlines this summer when it announced it has topped $5 billion in assets under management and added Amy Shapero as CFO. This spring, Betterment raised $100 million in Series E funding, taking the company’s total capital to more than $200 million and giving it a valuation of $700 million. Last month, Betterment announced a partnership with Uber that would provide fee-free, flexible retirement accounts for the company’s drivers. And in July, the robo-adviser announced that its 401(k) platform, Betterment for Business, topped 200 plan sponsors. Jon Stein is CEO.