Envestnet completes Tamarac acquisition

Melding of tech and portfolio expertise seen as creating full menu of services

May 2, 2012 @ 3:48 pm

By Davis Janowski

Envestnet Inc. announced Monday that it had completed its $54 million acquisition of Tamarac Inc.

The deal was made public in February.

While unexpected by most industry experts, the acquisition was viewed as one with great potential, especially when it comes to sharing of technology.

Envestnet's wealth management and portfolio expertise should benefit from the technology possessed by Tamarac, long a powerhouse in the market for re-balancing software.

The latter firm also has seen increased sales of its integrated Advisor platform in the last two years.

Combined, the firms offer registered investment advisors a full menu of services and technology offerings, including managed-account services.

“A rapidly growing number of advisers seek a fully integrated platform — one that provides a wide array of investment products and outsources back-office operations,” Jud Bergman, chairman and chief executive of Envestnet, said in a prepared statement.

Tamarac chief executive Stuart DePina will continue with the combined company as a group president with a focus on RIA firms.

Watch INTV go inside the Tamarac deal with Bill Crager:


What do you think?

View comments

Recommended for you

Featured video


Female leaders highlighted as future of financial advice

InvestmentNews recognized 20 Women to Watch for their efforts to advance the financial advice industry.

Latest news & opinion

Principal-Wells Fargo retirement deal would be among largest ever

Acquisition would be in line with trend of record keepers seeking to gain scale to combat fee reduction.

ESG options scarce in 401(k) plans

There's growing interest among plan participants, but reluctance to add funds that take into account environmental, social and governance factors persists.

Ameriprise getting ready to launch its bank

Firm's advisers will soon have access to lending products such as mortgages.

Envestnet acquires MoneyGuide for $500 million

Deal will allow Envestnet to deepen integrations between MoneyGuide and its other wealth management solutions.

Genworth move could signal big shift in distribution of long-term-care insurance

Insurers may turn to direct-to-consumer sales only, bypassing brokers and insurance agents.


Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting investmentnews.com? It'll help us continue to serve you.

Yes, show me how to whitelist investmentnews.com

Ad blocker detected. Please whitelist us or give premium a try.


Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print