Financial Data and Key Metrics - Q1 revenue was $325 million, representing 9% growth over Q1 2023 [42] - Adjusted EBITDA was $70 million, with a 22% margin, up 350 basis points from Q1 2023 [43] - Adjusted EPS for Q1 was $0.60, up 30% from $0.46 in Q1 2023 [44] - AUM net flows were $12.5 billion, an annualized organic asset growth rate of 12% [44] - Free cash flow improved by over $40 million year-over-year, despite seasonality [44] Business Line Data and Key Metrics - $12.5 billion of AUM flows in Q1, compared to $30 billion for all of 2023 [50] - High-net-worth solutions, direct indexing, and tax overlay products saw year-over-year growth of over 38% in assets, accounts, and advisors [56] - Turnkey asset management program has over $450 billion of AUM, continuing to take market share [57] - Wealth Solutions subscription-based revenue grew 5% to $84 million in Q1, including $3 million from FIDx [86] Market Data and Key Metrics - Envestnet serves over 109,000 advisors with 19.6 million accounts, totaling over $6 trillion in platform assets [66] - AUMA accounts grew 11%, and AUMA accounts per advisor grew 10% [67] - Client service scores improved year-over-year [67] Company Strategy and Industry Competition - Envestnet is focused on delivering a best-in-class, one-stop technology and fiduciary platform, aligning with advisor preferences for seamless workflows [54] - The company is enhancing its proposal engine and managed account solutions to attract flows and accelerate revenue growth [55] - Envestnet is considered a premium product in the RIA space, with pricing leverage based on recent investments [14] - The company is bundling analytics and integrating managed accounts to create a more holistic relationship with RIAs [15] Management Commentary on Operating Environment and Future Outlook - Management views the $12.5 billion of AUM flows as evidence of the company's strategy working [3] - The company is focused on stabilizing its Data & Analytics business and reorienting it for future growth [9] - Envestnet expects to continue reducing its leverage ratio during 2024 [115] - The company anticipates revenue growth of 9% in Q2 2024, with adjusted EBITDA margins improving by 350 basis points [116] Other Important Information - Envestnet is generating 20 million insights daily, with 80 different use cases, including tax opportunities and annuity replacements [106] - The company is delivering these insights within the advisor's core user experience, making it easier to act on them [108] - Envestnet is enhancing its unified managed account and household capabilities to allow advisors to personalize portfolios at scale [69] Q&A Summary Question: Data & Analytics Trends - Envestnet is focused on stabilizing and reorienting its Data & Analytics business for future growth, with initiatives like improved uptime and API exchanges [9][10] Question: Differentiated Pricing Approach - Envestnet has a premium pricing strategy in the RIA space, leveraging its investments in trading platforms and client service [14][15] - The company is bundling analytics and integrating managed accounts to create a more holistic relationship with RIAs [15][16] Question: Free Cash Flow Seasonality - Q1 free cash flow improved by $42 million year-over-year, despite seasonality, and the company expects further improvements in 2024 [21][22] Question: Proprietary Managed Products Growth - High-net-worth, direct indexing, and tax overlay products are growing at over 38%, while proprietary models are seeing net outflows due to increased competition [60][61] Question: Data Insights Engine - Envestnet is generating 20 million insights daily, with key use cases including tax opportunities and annuity replacements, delivered within the advisor's core user experience [106][108] Question: AUMA Fee Rate Stability - The fee rate has remained stable despite a shift in mix towards lower-fee reporting assets, which are essential for client relationships but drag down the blended fee rate [118][119]

Envestnet (ENV) reported $324.95 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 8.8%. EPS of $0.60 for the same period compares to $0.46 a year ago.The reported revenue represents a surprise of +0.03% over the Zacks Consensus Estimate of $324.85 million. With the consensus EPS estimate being $0.54, the EPS surprise was +11.11%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street ...

Wall Street analysts forecast that Envestnet (ENV) will report quarterly earnings of $0.54 per share in its upcoming release, pointing to a year-over-year increase of 17.4%. It is anticipated that revenues will amount to $324.85 million, exhibiting an increase of 8.8% compared to the year-ago quarter.The consensus EPS estimate for the quarter has been revised 3.4% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial e ...

Leading Wealth Management Platform Recognizes Industry's Top Asset Managers for Strong & Index-Beating Performances in 2023 BERWYN, Pa., May 3, 2024 /PRNewswire/ -- Envestnet, Inc. (NYSE: ENV) has announced its list of finalists for the 2024 Asset Manager of the Year Awards. Now in its 20th year, the awards program recognizes high-conviction portfolio managers who exemplify excellence in investment management practices in varied economic environment and market conditions. This year's award winners will be a ...

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.It also includes access to the Zacks Style Scores.What are the Zacks Style Scores?The Zacks Style Sco ...

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.Zacks Premium includes access to the Zacks Style Scores as well.What are the Zacks Style Scores?Devel ...

Envestnet (ENV) shares ended the last trading session 9.3% higher at $61.80. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 3.8% gain over the past four weeks.The news that the company is looking into options, including selling to a private equity firm, is what's causing investors to be more optimistic.  This financial services firm is expected to post quarterly earnings of $0.54 per share in its upcoming report, ...

If you are looking for a stock that has a solid history of beating earnings estimates and is in a good position to maintain the trend in its next quarterly report, you should consider Envestnet (ENV) . This company, which is in the Zacks Financial Transaction Services industry, shows potential for another earnings beat.When looking at the last two reports, this financial services firm has recorded a strong streak of surpassing earnings estimates. The company has topped estimates by 13.17%, on average, in th ...

Envestnet's Revenue Manager Offers Asset Managers Comprehensive Suite of End-to-End, Enterprise-Class Billing Capabilities for Streamlined Processes and Elevated Productivity BERWYN, Pa., and BOSTON, April 11, 2024 /PRNewswire/ -- Envestnet, Inc. (NYSE: ENV), a leading provider of integrated technology, intelligent data and wealth solutions, today announced that Intech Investment Management LLC (Intech), a specialized global quantitative equity manager, will leverage its innovative suite of billing solution ...

Envestnet | MoneyGuide Named Leading Financial Planning Software Provider By Market Share For 17th Consecutive Year, In 2024 T3/Inside Information Advisor Software Survey  BERWYN, Pa., March 11, 2024 /PRNewswire/ -- Envestnet has been recognized by the 2024 T3/Inside Information Advisor Software Survey as a leader in Financial Planning, Portfolio Management, TAMP and Billing Solutions -- reinforcing the strength, depth and breadth of its industry-leading Wealth Management Platform and commitment to supporti ...