Envestnet acquires tech company Upside

Outsourced investing platform will use Upside's portal for financial planning and investment management

Feb 26, 2015 @ 12:44 pm

By Alessandra Malito

Envestnet, a wealth management technology company, said Thursday acquired Upside, which provides registered investment advisers with online investment services, for an undisclosed sum.

Upside advises and manages client investments on an automated platform. Executives from both companies said that the combination of Upside and Envestnet will help place RIAs ahead of their "robo-adviser" competition.

(More: 3 'must do's' from the T3 Conference)

"There's been a lot of attention around the robo-adviser," Bill Crager, president of Envestnet, said. "What Upside does is gives us that front end portal but behind the scenes, Envestnet has the infrastructure to help advisers perform."

Envestnet will use Upside's portal for financial planning and investment management alongside its own services, which include portfolio analytics, reporting and account servicing.

Juney Ham, co-founder and president of Upside, said Envestnet and Upside shared the same goals.

"The visions are so closely aligned," Mr. Ham said. "We've been focused on building the next generation, we both support the same group of people and we both want advisers to win."

Mr. Ham and Tom Kimberly, co-founder and CEO of Upside, will join Envestnet as senior vice presidents.

Envestnet's Advisor Suite offers advisers management tools.


What do you think?

View comments

Recommended for you

Featured video


Why advisers are pessimistic about the economy

Deputy editor Bob Hordt and senior research analyst Matt Sirinides discuss a recent InvestmentNews survey of advisers, most of whom see a recession ahead before the next presidential election.

Latest news & opinion

John Bogle, Vanguard founder, dies at 89

The pioneer of low-cost, passive investments died of cancer.

10 biggest breakaways of Q4

Echelon Partners lists the 10 biggest adviser moves out of wirehouses during last year's final quarter.

6 biggest RIA acquisitions of 2018

As M&A involving registered investment advisers hit another record last year, these six deals topped the list

Anatomy of an annuity buyout offer

Readers are invited to comment on whether the columnist should keep or ditch her Ohio National VA contract

Factions emerge in OneFPA overhaul

Critics fear the FPA is trying to take money and power from local chapters, which officials and proponents call overblown.


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