People Moves
Handful Of Promotions At Envestnet As Firm Reorganizes Advisor Services Division
Envestnet, a provider of wealth management technology, has promoted Lori Hardwick to group president of advisor services – a new role at the firm.
Envestnet, a provider of wealth management technology, has promoted Lori Hardwick to group president of advisor services – a new role at the firm.
All of Envestnet's sales and relationship management teams – which includes over 100 client service professionals – are now part of advisor services. The firm is also increasing the number of regional teams in this division from eight to 14, in a move designed to help staff share their resources and expertise more efficiently.
Before her promotion, Hardwick was executive vice president of advisory services and, since joining Envestnet, has focused on wealth management technology for RIA and enterprise clients. In her new role, she will continue reporting to Bill Crager, president of Envestnet.
The Chicago, IL-based firm logged strong year-on-year increases in advisors, accounts and assets between the third quarters of 2013 and 2014: it added $80 billion in new assets during that period while the number of advisors with at least $5 million on the platform rose by 17 per cent. Such growth was facilitated in part by its acquisitions of Placemark Holdings and Prudential Investments' wealth management solutions business, which now operates as Envestnet Wealth Management Solutions.
Meanwhile, leaders of the various acquired businesses within Envestnet Advisor Services – who report to Hardwick – have also been promoted.
They include: Richard Dion to executive vice president and head of strategic partnerships (previously with Placemark); John Harris, managing director and global sales manager (previously with Oberon Financial Technology); John Phoenix, managing director of independent advisor network sales (previously with Metamorphosis Money Management); Andrew Stavaridis, head of enterprise consulting (previously with FundQuest); and John Yackel, managing director of institutional business development (previously with Prudential WMS).
Envestnet today has contracts with some 1,500 client firms, representing over 39,000 advisors.
