Report: Bain Close to Reaching Deal to Acquire Envestnet

Bain Capital is reportedly close to acquiring financial software provider Envestnet. If a deal is reached, it could be announced this week, Reuters reported Monday (July 8), citing unnamed sources. Envestnet's software is used by more than 108,000 financial advisors, 16 of the top 20 banks in the United States, and many wealth management and brokerage firms, according to the report. It's also in the midst of a leadership transition, as CEO Bill Crager said in January that he would step down from that role a ...