StockSelector.com
  Research, Select, & Monitor Tuesday, December 12, 2017 5:08:40 AM ET  
Trade Ideas The Market Industries Stocks Portfolio

 
Ticker Lookup
Envestnet Inc$50.05($.05)(.10%)

  Quote | Ranking | Chart | Valuations | Sentiment | Industry | News | Earnings | Analysts | More...

Your Target?

 Envestnet Reports Third Quarter 2016 Financial Results
   Monday, November 07, 2016 4:05:09 PM ET

Envestnet (ENV ), a leading provider of unified wealth management technology and services to enterprises and financial advisors, today reported financial results for its third quarter ended September 30, 2016.

                                                                                       Three Months Ended                                                                                                    Nine Months Ended                                              
Key Financial Metrics                                                                                                           September 30,                                                                                                              %                                                                                        September 30,                                                                                                                          %
(in millions except per share data)               2016         2015          Change        2016         2015                      Change
------------------------------------------ -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ----------------------------- -------------------- -------------------- ---------------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ----------------------------- -------------------- -------------------- --------------------------------
GAAP:                                                                                                                                                                                                                                                                                                                 
  Total Revenues                                                                                        $ 149.2                                                                 $ 103.4                                                                 44 %                                                                $ 422.7                                                                 $ 302.5                                                                        40 %
  Net Income (Loss)                                                                                        (4.1 )                                                                   3.3                                                                n/m                                                                    (23.0 )                                                                   8.3                                                                       n/m
  Net Income (Loss) per Diluted Share                                                                   $ (0.09 )                                                               $  0.09                                                                n/m                                                                  $ (0.54 )                                                               $  0.22                                                                       n/m
           n/m = not meaningful
                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
Non-GAAP:
  Adjusted Revenues(1)                                                                                  $ 149.5                                                                 $ 103.5                                                                 44 %                                                                $ 423.5                                                                 $ 302.6                                                                        40 %
  Adjusted EBITDA(1)                                                                                       27.5                                                                    19.2                                                                 43 %                                                                   69.1                                                                    53.6                                                                        29 %
  Adjusted Net Income(1)                                                                                   12.5                                                                     9.3                                                                 34 %                                                                   29.5                                                                    26.4                                                                        12 %
  Adjusted Net Income per Diluted Share(1)                                                              $  0.28                                                                 $  0.25                                                                 12 %                                                                $  0.67                                                                 $  0.70                                                                        (4 %)
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       


"Our enterprise clients and financial advisors are turning to Envestnet’s integrated offering of automated data aggregation, goals-based planning, data analytics and advisor-centric wealth management solutions to leverage better intelligence and deliver better outcomes in support of their clients’ best interest," said Jud Bergman, Chairman and CEO.

"Our solid third quarter results reflect continued growth. The financial benefits of recent acquisitions are becoming apparent, and we continue to sign agreements with large enterprises, including most recently two of the top wealth management firms in the US. These enterprises see the benefits of our integrated offering, which improves understanding of the client, accelerates client onboading, enhances the enterprise and advisor value proposition, and turbocharges productivity - essential benefits in a post-DOL environment," concluded Mr. Bergman.

Financial Results for the Third Quarter of 2016 Compared to the Third Quarter of 2015:

Revenues increased 44% to $149.2 million for the three months ended September 30, 2016 from $103.4 for the three months ended September 30, 2015. Revenues from assets under management or administration ("AUM/A") increased 5% to $90.0 for the three months ended September 30, 2016 from $85.6 for the three months ended September 30, 2015. With the inclusion of Yodlee, which was acquired in November 2015, subscription and licensing revenue increased to $52.0 million from $16.2 million for the three months ended September 30, 2016 and 2015, respectively. Subscription and licensing revenue has grown to 35% of total revenue for the third quarter of 2016 from 16% in the third quarter of 2015.

Total operating expenses in the third quarter of 2016 increased 58% to $150.4 million from $95.0 million in the prior year period. Cost of revenues increased 15% to $47.3 million in the third quarter of 2016 from $41.0 million in the third quarter of 2015 due to the inclusion of Yodlee and the increase in revenue from AUM/A. Compensation and benefits increased 85% to $60.3 million in the third quarter of 2016 from $32.7 million in the prior year period primarily due to the inclusion of Yodlee. General and administration expenses increased 72% to $26.2 million in the third quarter of 2016 from $15.2 million in the prior year period, also primarily due to the inclusion of Yodlee.

Loss from operations was $1.3 million for the third quarter of 2016 compared to income of $8.3 million for the third quarter of 2015. Net loss attributable to Envestnet, Inc. was $4.1 million, or ($0.09) per diluted share, for the third quarter of 2016 compared to income of $3.3 million, or $0.09 per diluted share, for the third quarter of 2015.

Adjusted EBITDA(1) in the third quarter of 2016 was $27.5 million, compared to $19.2 million in the prior year period. Adjusted Net Income(1) was $12.5 million, compared to $9.3 million in the third quarter of 2015. Adjusted Net Income Per Share(1) was $0.28, compared to $0.25 in the third quarter of 2015.

Cash Flow and Financial Position

At September 30, 2016, Envestnet had $50.7 million in cash and cash equivalents, compared to $38.5 million at June 30, 2016. Total debt was $290.9 million at September 30, 2016 compared to $290.8 million at June 30, 2016. No funds were drawn on the $100 million revolving credit facility as of September 30, 2016.

Outlook

The Company’s financial outlook for the fourth quarter ended December 31, 2016 is summarized below:

In Millions Except Adjusted EPS                                                                    Q4 2016
-------------------------------------------------------------                                           ---------------------------------------------------------------------------------------------------------------
GAAP:                                                                                                                                                      
  AUM/A revenue                                                                                                            $                 92.5                         -                                       93.5
                                                                                                                                             55.0                         -                                       56.0
  Subscription and licensing revenue
  Professional services and other revenue                                                                                                     5.5                         -                                        6.0
  Revenues                                                                                                                 $                153.0                         -                                      155.5
                                                                                                                                                                                                   
  Cost of revenues                                                                                                         $                 48.5                         -                                       49.5
  Net Income                                                                                                                                                              -
                                                                                                                                                                                                   
  Diluted shares outstanding                                                                                                                         45.0
  Net Income per Diluted Share                                                                                                                                            -
                                                                                                                                                                                                   
Non-GAAP:
                                                                                                                           $                153.0                         -                                      155.5
  Adjusted Revenues(1)
                                                                                                                                             29.0                         -                                       30.0
  Adjusted EBITDA(1)
                                                                                                                                  $0.30
  Adjusted Net Income per Diluted Share(1)
                                                                                                                                                                                                   

The company does not forecast net income and net income per share due to the unpredictable nature of various items adjusted for non-GAAP disclosure purposes, including the periodic GAAP income tax provision.

Conference Call

Envestnet will host a conference call to discuss third quarter 2016 financial results today at 5:00 p.m. ET. The live webcast can be accessed from Envestnet’s investor relations website at http://ir.envestnet.com/ . The call can also be accessed live over the phone by dialing (800) 467-8998, or for international callers (719) 325-2239. A replay will be available one hour after the call and can be accessed by dialing (877) 870-5176 or (858) 384-5517 for international callers; the conference ID is 6095631. The dial-in replay will be available for one week and the webcast replay will be available for one month following the date of the conference call.

About Envestnet

Envestnet, Inc. (ENV ) is a leading provider of unified wealth management technology and services to financial enterprises and advisors. Our solutions unify and fortify the wealth management process, delivering unparalleled flexibility, accuracy, performance, and value. Envestnet enables the transformation of wealth management into a transparent, independent, objective, and fiduciary standard of care, and empowers enterprises and advisors to more fully understand their clients and deliver better outcomes.

Envestnet’s Advisor Suite(R) enables financial advisors to better manage client outcomes and strengthen their practices. Institutional-quality research and advanced portfolio solutions are provided through Envestnet | PMC, our Portfolio Management Consultants group. Envestnet | Yodlee is a leading data aggregation and data analytics platform powering dynamic, personalized financial apps and services for millions of consumers. Envestnet | Tamarac provides leading rebalancing, reporting, and practice management software for advisors.

More than 2,000 companies, including 15 of the 20 largest U.S. banks, 38 of the 50 largest wealth management and brokerage firms, over 500 of the largest Registered Investment Advisers, and hundreds of Internet services companies, leverage Envestnet technology and services. Envestnet solutions enhance knowledge of the client, accelerate client on-boarding, improve client digital experiences, and help drive better outcomes for enterprises, advisors, and their clients.

For more information on Envestnet, please visit www.envestnet.com and follow @ENVintel (https://twitter.com/envintel).

(1) Non-GAAP Financial Measures

"Adjusted revenues" exclude the effect of purchase accounting on the fair value of acquired deferred revenue. Under United States generally accepted accounting principles (GAAP), we record at fair value the acquired deferred revenue for contracts in effect at the time the entities were acquired. Consequently, revenue related to acquired entities for periods subsequent to the acquisition does not reflect the full amount of revenue that would have been recorded by these entities had they remained stand-alone entities.

"Adjusted EBITDA" represents net income before deferred revenue fair value adjustment, interest income, interest expense, accretion on contingent consideration, income tax provision (benefit), depreciation and amortization, non-cash compensation expense, restructuring charges and transaction costs, severance, fair market value adjustment on contingent consideration, litigation related expense, foreign currency and related hedging activity, loss allocation from equity method investment and loss attributable to non-controlling interest.

"Adjusted net income" represents net income before deferred revenue fair value adjustment, accretion on contingent consideration, non-cash interest expense, non-cash compensation expense, restructuring charges and transaction costs, severance, amortization of acquired intangibles, fair market value adjustment on contingent consideration, litigation related expense, foreign currency and related hedging activity, loss allocation from equity method investment and loss attributable to non-controlling interest. Reconciling items are presented gross of tax, and a normalized tax rate is applied to the total of all reconciling items to arrive at adjusted net income. The reconciling items, and resulting adjusted net income, are presented on a different basis than historically shown to eliminate the impact of quarterly volatility of the GAAP tax provision (benefit) on the Company’s adjusted earnings figures.

"Adjusted net income per share" represents adjusted net income divided by the diluted number of weighted-average shares outstanding.

See reconciliation of Non-GAAP Financial Measures on pages 8 and 9 of this press release. Reconciliations are not provided for guidance on such measures as the Company is unable to predict the amounts to be adjusted, such as the GAAP tax provision. The Company’s Non-GAAP Financial Measures should not be viewed as a substitute for revenues, net income or net income per share determined in accordance with GAAP.

Cautionary Statement Regarding Forward-Looking Statements

The forward-looking statements made in this press release and its attachments concerning, among other things, Envestnet, Inc.’s (the "Company") expected financial performance and outlook for the third quarter and full year of 2016, its strategic operational plans and growth strategy are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties and the Company’s actual results could differ materially from the results expressed or implied by such forward-looking statements. Furthermore, reported results should not be considered as an indication of future performance. The potential risks, uncertainties and other factors that could cause actual results to differ from those expressed by the forward-looking statements in this press release include, but are not limited to, difficulty in sustaining rapid revenue growth, which may place significant demands on the Company’s administrative, operational and financial resources, fluctuations in the Company’s revenue, the concentration of nearly all of the Company’s revenues from the delivery of investment solutions and services to clients in the financial services industry, the impact of market and economic conditions on revenues, the Company’s reliance on a limited number of clients for a material portion of its revenue, the renegotiation of fee percentages or termination of the Company’s services by its clients, the Company’s ability to identify potential acquisition candidates, complete acquisitions and successfully integrate acquired companies, the impact of market conditions on the Company’s ability to issue additional debt and equity to fund acquisitions, compliance failures, regulatory or third-party actions against the Company, the failure to protect the Company’s intellectual property rights, the Company’s inability to successfully execute the conversion of its clients’ assets from their technology platform to the Company’s technology platform in a timely and accurate manner, general economic conditions, political and regulatory conditions, the impact of fluctuations in interest rates on the Company’s business, ability to expand our relationships with existing customers, grow the number of customers and derive revenue from new offerings such as our data analytic solutions and market research services and premium FinApps, the results of our investments in research and development, our data center and other infrastructure, our ability to realize operating efficiencies, the advantages of our solutions as compared to those of others, our ability to retain and hire necessary employees and appropriately staff our operations, in particular our India operations, and management’s response to these factors. More information regarding these and other risks, uncertainties and factors is contained in the Company’s filings with the Securities and Exchange Commission ("SEC") which are available on the SEC’s website at www.sec.gov or the Company’s Investor Relations website at http://ir.envestnet.com/ . You are cautioned not to unduly rely on these forward-looking statements, which speak only as of the date of this press release. All information in this press release and its attachments is as of November 7, 2016 and, unless required by law, the Company undertakes no obligation to publicly revise any forward-looking statement to reflect circumstances or events after the date of this press release or to report the occurrence of unanticipated events.

                                                                                
                                                                                            Envestnet, Inc.
                                                                                 Condensed Consolidated Balance Sheets
                                                                                            (in thousands)
                                                                                              (unaudited)
                                                                                                                                                              
                                                                                              September 30,                                                                 December 31,
                                                                                                  2016                                                                          2015
                                                                                      -----------------------------                                          ------------------------------------------
Assets
Current assets:
  Cash and cash equivalents                                                                              $  50,662                                                              $               51,718
  Fees and other receivables, net                                                                           42,451                                                                              46,756
  Prepaid expenses and other current assets                                              19,811                                                           13,239
                                                                                      -------------------- -------                                           -------------------- --------------------
       Total current assets                                                             112,924                                                          111,713
                                                                                      -------------------- -------                                           -------------------- --------------------
                                                                                                                                                              
Property and equipment, net                                                                                 32,566                                                                              28,681
Internally developed software, net                                                                          13,544                                                                               9,897
Intangible assets, net                                                                                     262,234                                                                             292,675
Goodwill                                                                                                   422,565                                                                             421,273
Deferred tax assets, net                                                                                    12,961                                                                               2,688
Other non-current assets                                                                 13,156                                                            9,322
                                                                                      -------------------- -------                                           -------------------- --------------------
       Total assets                                                                                      $ 869,950                                                              $              876,249
                                                                                      ==================== =======                                           ==================== ====================
                                                                                                                                                              
Liabilities and Equity
Current liabilities:
  Accrued expenses and other liabilities                                                                 $  74,650                                                              $               83,411
  Accounts payable                                                                                          10,456                                                                              10,420
  Current portion of debt                                                                                   33,177                                                                               6,064
  Contingent consideration                                                                                   1,929                                                                               2,537
  Deferred revenue                                                                       15,379                                                           15,089
                                                                                      -------------------- -------                                           -------------------- --------------------
       Total current liabilities                                                        135,591                                                          117,521
                                                                                      -------------------- -------                                           -------------------- --------------------
                                                                                                                                                              
Convertible notes                                                                                          151,019                                                                             146,418
Term notes                                                                                                 106,674                                                                             138,335
Contingent consideration                                                                                     1,295                                                                               1,506
Deferred revenue                                                                                            16,220                                                                              14,378
Deferred rent and lease incentive                                                                           12,174                                                                              10,976
Other non-current liabilities                                                            10,625                                                            6,288
                                                                                      -------------------- -------                                           -------------------- --------------------
       Total liabilities                                                                433,598                                                          435,422
                                                                                      -------------------- -------                                           -------------------- --------------------
                                                                                                                                                              
Redeemable units in ERS                                                                                        900                                                                                 900
                                                                                                                                                              
Equity:
  Stockholders’ equity                                                                                     435,054                                                                             439,529
  Non-controlling interest                                                                  398                                                              398
                                                                                      -------------------- -------                                           -------------------- --------------------
       Total liabilities and equity                                                                      $ 869,950                                                              $              876,249
                                                                                      ==================== =======                                           ==================== ====================
                                                                                                                                                                                   
                                                                                                                                                                                                                                    
                                                                                                                                                                                               Envestnet, Inc.
                                                                                                                                                                               Condensed Consolidated Statements of Operations
                                                                                                                                                                           (in thousands, except share and per share information)
                                                                                                                                                                                                 (unaudited)
                                                                                                                                                                                                                                                                                                                                                         
                                                                                                                                                                               Three Months Ended                                                                                                                                    Nine Months Ended
                                                                                                                                                                       September 30,                                                                                                                                                   September 30,
                                                                                                   ----------------------------------------------------------------------------------------------------------------------------------------------------                      --------------------------------------------------------------------------------------------------------------------------------
                                                                                                        2016                                                     2015                                 2016                                 2015     
                                                                                                   -------------------- ---------- --------------------                                           -------------------- ---------- --------------------                       -------------------- ---------- --------------------                       -------------------- ---------- --------------------
Revenues:
  Assets under management or administration                                                                           $     90,042                                                                                   $     85,576                                                               $    258,969                                                               $    250,472
  Subscription and licensing                                                                                                51,959                                                                                         16,163                                                                    142,303                                                                     45,257
  Professional services and other                                                                         7,154                                                    1,628                               21,412                                6,755  
                                                                                                   -------------------- ---------- --------------------                                           -------------------- ---------- --------------------                       -------------------- ---------- --------------------                       -------------------- ---------- --------------------
       Total revenues                                                                                   149,155                                                  103,367                              422,684                              302,484  
                                                                                                   -------------------- ---------- --------------------                                           -------------------- ---------- --------------------                       -------------------- ---------- --------------------                       -------------------- ---------- --------------------
                                                                                                                                                                                                                                                                                                                                                         
Operating expenses:
  Cost of revenues                                                                                                          47,259                                                                                         41,027                                                                    132,319                                                                    122,208
  Compensation and benefits                                                                                                 60,345                                                                                         32,671                                                                    180,625                                                                     96,162
  General and administration                                                                                                26,150                                                                                         15,184                                                                     80,097                                                                     44,905
  Depreciation and amortization                                                                                             16,692                                                                                          6,157                                                                     49,872                                                                     17,215
  Restructuring charges                                                                                       -                                                        -                                  152                                  518  
                                                                                                   -------------------- ---------- --------------------                                           -------------------- ---------- --------------------                       -------------------- ---------- --------------------                       -------------------- ---------- --------------------
       Total operating expenses                                                                         150,446                                                   95,039                              443,065                              281,008  
                                                                                                   -------------------- ---------- --------------------                                           -------------------- ---------- --------------------                       -------------------- ---------- --------------------                       -------------------- ---------- --------------------
       Income (loss) from operations                                                                                        (1,291 )                                                                                        8,328                                                                    (20,381 )                                                                   21,476
  Other expense, net                                                                                     (4,434 )                                                                    (2,347 )                                               (13,214 )                                                (6,801 )
                                                                                                   -------------------- ---------- --------------------                                           -------------------- ---------- --------------------                       -------------------- ---------- --------------------                       -------------------- ---------- --------------------
Income (loss) before income tax provision (benefit)                                                                         (5,725 )                                                                                        5,981                                                                    (33,595 )                                                                   14,675
  Income tax provision (benefit)                                                                         (1,668 )                                                                     2,679                              (10,602 )                                                 6,326  
                                                                                                   -------------------- ---------- --------------------                                           -------------------- ---------- --------------------                       -------------------- ---------- --------------------                       -------------------- ---------- --------------------
Net income (loss)                                                                                                           (4,057 )                                                                                        3,302                                                                    (22,993 )                                                                    8,349
  Add: Net loss attributable to non-controlling interest                                                      -                                                        -                                    -                                    -  
                                                                                                   -------------------- ---------- --------------------                                           -------------------- ---------- --------------------                       -------------------- ---------- --------------------                       -------------------- ---------- --------------------
Net income (loss) attributable to Envestnet, Inc.                                                                     $     (4,057 )                                                                                 $      3,302                                            $    (22,993 )                                                             $      8,349  
                                                                                                   ==================== ========== ====================                                           ==================== ========== ====================                       ==================== ========== ====================                       ==================== ========== ====================
                                                                                                                                                                                                                                                                                                                                                         
Net income (loss) per share attributable to Envestnet, Inc.:
                                                                                                                                                                                                                                                                                                                                                         
  Basic                                                                                                               $      (0.09 )                                                                                 $       0.09                                            $      (0.54 )                                                             $       0.23  
                                                                                                   ==================== ========== ====================                                           ==================== ========== ====================                       ==================== ========== ====================                       ==================== ========== ====================
  Diluted                                                                                                             $      (0.09 )                                                                                 $       0.09                                            $      (0.54 )                                                             $       0.22  
                                                                                                   ==================== ========== ====================                                           ==================== ========== ====================                       ==================== ========== ====================                       ==================== ========== ====================
                                                                                                                                                                                                                                                                                                                                                         
Weighted average common shares outstanding:
  Basic                                                                                              42,843,103                                               36,021,784                           42,704,383                           35,651,508  
                                                                                                   ==================== ========== ====================                                           ==================== ========== ====================                       ==================== ========== ====================                       ==================== ========== ====================
  Diluted                                                                                            42,843,103                                               37,614,701                           42,704,383                           37,563,815  
                                                                                                   ==================== ========== ====================                                           ==================== ========== ====================                       ==================== ========== ====================                       ==================== ========== ====================
                                                                                                                                                                                                                                                                                                                                                                                         
 
                                                                                                                        Envestnet, Inc.
                                                                                                        Condensed Consolidated Statements of Cash Flows
                                                                                                                        (in thousands)
                                                                                                                          (unaudited)
                                                                                                                               
                                                                                                                                                                               Nine Months Ended
                                                                                                                                                                                 September 30,
                                                                                                                ----------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                    2016                                                  2015   
                                                                                                                -------------------- ------- --------------------                                           -------------------- ------- --------------------
OPERATING ACTIVITIES:
  Net income (loss)                                                                                                                $ (22,993 )                                                                                 $   8,349
                                                                                                                                                                                                             
  Adjustments to reconcile net income (loss) to net cash provided by
  operating activities:
    Depreciation and amortization                                                                                                     49,872                                                                                      17,215
    Deferred rent and lease incentive                                                                                                   (324 )                                                                                       628
    Provision for doubtful accounts                                                                                                      369                                                                                          31
    Deferred income taxes                                                                                                            (10,273 )                                                                                      (264 )
    Stock-based compensation expense                                                                                                  25,872                                                                                      10,157
    Excess tax benefits from stock-based compensation expense                                                                         (1,470 )                                                                                   (18,010 )
    Non-cash interest expense                                                                                                          6,955                                                                                       7,081
    Accretion on contingent consideration                                                                                                143                                                                                         794
    Fair market value adjustment on contingent consideration                                                                             838                                                                                      (3,791 )
    Loss allocation on equity method investment                                                                                        1,130                                                                                           -
    Loss on disposal of fixed assets                                                                                                     220                                                                                           -
    Changes in operating assets and liabilities, net of acquisitions:
      Fees and other receivables                                                                                                       4,077                                                                                      (4,817 )
      Prepaid expenses and other current assets                                                                                       (4,960 )                                                                                     4,534
      Other non-current assets                                                                                                        (4,271 )                                                                                    (1,024 )
      Accrued expenses and other liabilities                                                                                             275                                                                                      (2,068 )
      Accounts payable                                                                                                                   124                                                                                         113
      Deferred revenue                                                                                                                 1,959                                                                                       7,331
      Other non-current liabilities                                                                                 4,337                                                  (428 )
                                                                                                                -------------------- ------- --------------------                                           -------------------- ------- --------------------
Net cash provided by operating activities                                                                          51,880                                                25,831  
                                                                                                                -------------------- ------- --------------------                                           -------------------- ------- --------------------
                                                                                                                                                                                                             
INVESTING ACTIVITIES:
  Purchase of property and equipment                                                                                                 (10,839 )                                                                                    (6,852 )
  Capitalization of internally developed software                                                                                     (6,217 )                                                                                    (3,782 )
                                                                                                                                        (738 )                                                                                    (1,500 )
  Investment in private company
  Purchase of ERS units                                                                                                               (1,500 )                                                                                      (100 )
  Acquisition of businesses, net of cash acquired                                                                 (18,394 )                                                                (27,332 )
                                                                                                                -------------------- ------- --------------------                                           -------------------- ------- --------------------
Net cash used in investing activities                                                                             (37,688 )                                                                (39,566 )
                                                                                                                -------------------- ------- --------------------                                           -------------------- ------- --------------------
                                                                                                                                                                                                             
FINANCING ACTIVITIES:
  Proceeds from borrowings on revolving credit facility                                                                               25,000                                                                                           -
  Payments on revolving credit facility                                                                                              (25,000 )                                                                                         -
  Payments of contingent consideration                                                                                                (2,924 )                                                                                    (7,219 )
  Payment of term notes                                                                                                               (6,000 )                                                                                         -
  Issuance of redeemable units in ERS                                                                                                      -                                                                                         900
  Proceeds from exercise of stock options                                                                                              3,166                                                                                       7,448
  Excess tax benefits from stock-based compensation expense                                                                            1,470                                                                                      18,010
  Purchase of treasury stock for stock-based minimum tax withholdings                                                                 (9,517 )                                                                                    (6,812 )
  Common stock share repurchases                                                                                                      (1,448 )                                                                                         -
  Issuance of restricted stock units                                                                                    5                                                     2  
                                                                                                                -------------------- ------- --------------------                                           -------------------- ------- --------------------
Net cash provided by (used in) financing activities                                                               (15,248 )                                                                 12,329  
                                                                                                                -------------------- ------- --------------------                                           -------------------- ------- --------------------
                                                                                                                                                                                                             
DECREASE IN CASH AND CASH EQUIVALENTS                                                                              (1,056 )                                                                 (1,406 )
                                                                                                                -------------------- ------- --------------------                                           -------------------- ------- --------------------
                                                                                                                                                                                                             
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD                                                                                        51,718                                                                                     209,754
                                                                                                                                                                                          
                                                                                                                --------------------------------------------------                                          --------------------------------------------------
CASH AND CASH EQUIVALENTS, END OF PERIOD                                                                                           $  50,662                                                                $ 208,348  
                                                                                                                ==================== ======= ====================                                           ==================== ======= ====================
                                                                                                                                                                                                                                          
                                                                                                                                                                                                                                             
                                                                                                                                                                                                                        Envestnet, Inc.
                                                                                                                                                                                                         Reconciliation of Non-GAAP Financial Measures
                                                                                                                                                                                                    (in thousands, except share and per share information)
                                                                                                                                                                                                                          (unaudited)
                                                                                                                                                                                                                                                                                                                                                                                                       
                                                                                                                                                                        Three Months Ended                                                                                                                                                                                 Nine Months Ended
                                                                                                                                                                           September 30,                                                                                                                                                                                     September 30,
                                                                                                     --------------------------------------------------------------------------------------------------------------------------------------------------------                                          --------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                          2016                                                       2015                                                       2016                                                       2015       
                                                                                                     -------------------- ---------- --------------------                                           -------------------- -------------- --------------------                                           -------------------- ---------- --------------------                                           -------------------- -------------- --------------------
                                                                                                                                                                                                                                                                                                                                                                                                       
Revenues                                                                                                                $    149,155                                                                                   $        103,367                                                                                   $    422,684                                                                                   $        302,484
  Deferred revenue fair value adjustment                                                                      331                                                          134                                                      781                                                          134  
                                                                                                     -------------------- ---------- --------------------                                           -------------------- -------------- --------------------                                           -------------------- ---------- --------------------                                           -------------------- -------------- --------------------
Adjusted revenues                                                                                                       $    149,486                                                                $        103,501                                                                $    423,465                                                                $        302,618  
                                                                                                     ==================== ========== ====================                                           ==================== ============== ====================                                           ==================== ========== ====================                                           ==================== ============== ====================
                                                                                                                                                                                                                                                                                                                                                                                                       
Net income (loss)                                                                                                       $     (4,057 )                                                                                 $          3,302                                                                                   $    (22,993 )                                                                                 $          8,349
Add (deduct):
  Deferred revenue fair value adjustment                                                                                         331                                                                                                134                                                                                            781                                                                                                134
  Interest income                                                                                                                 (6 )                                                                                              (77 )                                                                                          (28 )                                                                                             (288 )
  Interest expense                                                                                                             4,122                                                                                              2,384                                                                                         12,345                                                                                              7,081
  Accretion on contingent consideration                                                                                           23                                                                                                143                                                                                            143                                                                                                794
  Income tax provision (benefit)                                                                                              (1,668 )                                                                                            2,679                                                                                        (10,602 )                                                                                            6,326
  Depreciation and amortization                                                                                               16,692                                                                                              6,157                                                                                         49,872                                                                                             17,215
  Non-cash compensation expense                                                                                                7,554                                                                                              3,409                                                                                         25,872                                                                                             10,157
  Restructuring charges and transaction costs                                                                                    998                                                                                              2,473                                                                                          4,484                                                                                              5,441
  Severance                                                                                                                    1,058                                                                                                 22                                                                                          3,104                                                                                                877
  Fair market value adjustment on contingent consideration                                                                       349                                                                                             (1,889 )                                                                                          838                                                                                             (3,791 )
  Litigation related expense                                                                                                   2,097                                                                                     --                                                                                          4,065                                                                                     --
  Foreign currency and related hedging activity                                                                                 (383 )                                                                                   --                                                                                           (672 )                                                                                   --
  Loss allocation from equity method investment                                                                                  250                                                                                                 40                                                                                          1,130                                                                                                 40
  Loss attributable to non-controlling interest                                                               145                                                          438                                                      787                                                        1,305  
                                                                                                     -------------------- ---------- --------------------                                           -------------------- -------------- --------------------                                           -------------------- ---------- --------------------                                           -------------------- -------------- --------------------
Adjusted EBITDA                                                                                                         $     27,505                                                                $         19,215                                                                $     69,126                                                                $         53,640  
                                                                                                     ==================== ========== ====================                                           ==================== ============== ====================                                           ==================== ========== ====================                                           ==================== ============== ====================
                                                                                                                                                                                                                                                                                                                                                                                                       
Net income (loss)                                                                                                       $     (4,057 )                                                                                 $          3,302                                                                                   $    (22,993 )                                                                                 $          8,349
Income tax provision (benefit) (1)                                                                         (1,668 )                                                                         2,679                                                  (10,602 )                                                                         6,326  
                                                                                                     -------------------- ---------- --------------------                                           -------------------- -------------- --------------------                                           -------------------- ---------- --------------------                                           -------------------- -------------- --------------------
Income (loss) before income tax provision (benefit)                                                                           (5,725 )                                                                                            5,981                                                                                        (33,595 )                                                                                           14,675
Add (deduct):
  Deferred revenue fair value adjustment                                                                                         331                                                                                                134                                                                                            781                                                                                     --
  Accretion on contingent consideration                                                                                           23                                                                                                143                                                                                            143                                                                                                794
  Non-cash interest expense                                                                                                    2,039                                                                                              1,564                                                                                          6,070                                                                                              4,627
  Non-cash compensation expense                                                                                                7,554                                                                                              3,409                                                                                         25,872                                                                                             10,157
  Restructuring charges and transaction costs                                                                                    998                                                                                              2,473                                                                                          4,484                                                                                              5,441
  Severance                                                                                                                    1,058                                                                                                 22                                                                                          3,104                                                                                                877
  Amortization of acquired intangibles                                                                                        12,035                                                                                              3,508                                                                                         36,156                                                                                             10,201
  Fair market value adjustment on contingent consideration                                                                       349                                                                                             (1,889 )                                                                                          838                                                                                             (3,791 )
  Litigation related expense                                                                                                   2,097                                                                                     --                                                                                          4,065                                                                                     --
  Foreign currency and related hedging activity                                                                                 (383 )                                                                                   --                                                                                           (672 )                                                                                   --
  Loss allocation from equity method investment                                                                                  250                                                                                     --                                                                                          1,130                                                                                                 40
  Loss attributable to non-controlling interest                                                               145                                                          438                                                      787                                                        1,305  
                                                                                                     -------------------- ---------- --------------------                                           -------------------- -------------- --------------------                                           -------------------- ---------- --------------------                                           -------------------- -------------- --------------------
Adjusted income before income tax effect                                                                                      20,771                                                                                             15,783                                                                                         49,163                                                                                             44,326
  Income tax effect (2)                                                                                    (8,308 )                                                                        (6,512 )                                                                   (19,665 )                                                                       (17,954 )
                                                                                                     -------------------- ---------- --------------------                                           -------------------- -------------- --------------------                                           -------------------- ---------- --------------------                                           -------------------- -------------- --------------------
Adjusted net income                                                                                                     $     12,463                                                                $          9,271                                                                $     29,498                                                                $         26,372  
                                                                                                     ==================== ========== ====================                                           ==================== ============== ====================                                           ==================== ========== ====================                                           ==================== ============== ====================
                                                                                                                                                                                                                                                                                                                                                                                                       
Basic number of weighted-average shares outstanding                                                                       42,843,103                                                                                         36,021,784                                                                                     42,704,383                                                                                         35,651,508
Effect of dilutive shares:
  Options to purchase common stock                                                                                         1,331,256                                                                                          1,554,564                                                                                      1,286,968                                                                                          1,784,442
  Unvested restricted stock units                                                                         350,169                                                       38,353                                                  272,205                                                      127,865  
                                                                                                     -------------------- ---------- --------------------                                           -------------------- -------------- --------------------                                           -------------------- ---------- --------------------                                           -------------------- -------------- --------------------
Diluted number of weighted-average shares outstanding                                                  44,524,528                                                   37,614,701                                               44,263,556                                                   37,563,815  
                                                                                                     ==================== ========== ====================                                           ==================== ============== ====================                                           ==================== ========== ====================                                           ==================== ============== ====================
                                                                                                                                                                                                                                                                                                                                                                                                       
Adjusted net income per share - diluted                                                                                 $       0.28                                                                $           0.25                                                                $       0.67                                                                $           0.70  
                                                                                                     ==================== ========== ====================                                           ==================== ============== ====================                                           ==================== ========== ====================                                           ==================== ============== ====================
                                                                                                                                                                                                                                                                                                                                                                                                       

(1) For the three months ended September 30, 2016 and 2015, the effective tax (benefit) rate computed in accordance with US GAAP equaled 28.8% and 40.0%, respectively. For the nine months ended September 30, 2016 and 2015, the effective tax (benefit) rate computed in accordance with US GAAP equaled 32.1% and 41.9%, respectively.

(2) For both periods shown, an estimated normalized effective tax rate of 40% has been used to compute adjusted net income.

Note on Income Taxes: As of December 31, 2015, the Company had NOL carryforwards of $272,804 and $149,893 for federal and state income tax purposes, respectively, available to reduce future income subject to income taxes. As a result, the amount of actual cash taxes the Company pays for federal, state and foreign income taxes differs significantly from the effective income tax rate computed in accordance with US GAAP, and from the normalized rate shown above.

                                                                                                                                                                                                           
                                                                                                                                                                                                    Envestnet, Inc.
                                                                                                                                                                                     Reconciliation of Non-GAAP Financial Measures
                                                                                                                                                                                                  Segment Information
                                                                                                                                                                                                    (in thousands)
                                                                                                                                                                                                      (unaudited)
                                                                                                                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                       For the Three Months Ended September 30, 2016
                                                                                                     ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                               Envestnet                                                                    Envestnet | Yodlee                                                                              Non-Segment                                                                                    Total
                                                                                                     -----------------------------                                          --------------------------------------------------                                          --------------------------------------------------                                          --------------------------------------------------
Revenues                                                                                                                $ 114,511                                                              $  34,644                                                                                   $       -                                                                                   $ 149,155
  Deferred revenue fair value adjustment                                                                   109                                                 222                                                     -                                                   331  
                                                                                                     -------------------- -------                                           -------------------- ------- --------------------                                           -------------------- ------- --------------------                                           -------------------- ------- --------------------
Adjusted revenues                                                                                                       $ 114,620                                                              $  34,866                                                                $       -                                                                $ 149,486  
                                                                                                     ==================== =======                                           ==================== ======= ====================                                           ==================== ======= ====================                                           ==================== ======= ====================
                                                                                                                                                                                                                                                                                                                                                                     
Income (loss) from operations                                                                                              12,361                                                                 (8,416 )                                                                                    (5,236 )                                                                                 $  (1,291 )
Add (deduct):
  Deferred revenue fair value adjustment                                                                                      109                                                                    222                                                                                           -                                                                                         331
  Accretion on contingent consideration                                                                                        23                                                                      -                                                                                           -                                                                                          23
  Depreciation and amortization                                                                                             6,362                                                                 10,330                                                                                           -                                                                                      16,692
  Non-cash compensation expense                                                                                             3,565                                                                  2,937                                                                                       1,052                                                                                       7,554
  Restructuring charges and transaction costs                                                                                  34                                                                      3                                                                                         961                                                                                         998
  Severance                                                                                                                   990                                                                     68                                                                                           -                                                                                       1,058
  Fair market value adjustment on contingent consideration                                                                      -                                                                      -                                                                                         349                                                                                         349
  Litigation related expense                                                                                                    -                                                                  2,086                                                                                          11                                                                                       2,097
  Foreign currency and related hedging activity                                                                                 -                                                                   (462 )                                                                                         -                                                                                        (462 )
  Other loss                                                                                                                    -                                                                      -                                                                                          11                                                                                          11
  Loss attributable to non-controlling interest                                                            145                                                   -                                                     -                                                   145  
                                                                                                     -------------------- -------                                           -------------------- ------- --------------------                                           -------------------- ------- --------------------                                           -------------------- ------- --------------------
Adjusted EBITDA                                                                                                         $  23,589                                                              $   6,768                                                                $  (2,852 )                                                                                 $  27,505  
                                                                                                     ==================== =======                                           ==================== ======= ====================                                           ==================== ======= ====================                                           ==================== ======= ====================
                                                                                                                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                       For the Three Months Ended September 30, 2015
                                                                                                     ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                               Envestnet                                                                    Envestnet | Yodlee                                                                              Non-Segment                                                                                    Total
                                                                                                     -----------------------------                                          --------------------------------------------------                                          --------------------------------------------------                                          --------------------------------------------------
Revenues                                                                                                                $ 103,367                                                              $       -                                                                                   $       -                                                                                   $ 103,367
  Deferred revenue fair value adjustment                                                                   134                                                   -                                                     -                                                   134  
                                                                                                     -------------------- -------                                           -------------------- ------- --------------------                                           -------------------- ------- --------------------                                           -------------------- ------- --------------------
Adjusted revenues                                                                                                       $ 103,501                                                              $       -                                                                $       -                                                                $ 103,501  
                                                                                                     ==================== =======                                           ==================== ======= ====================                                           ==================== ======= ====================                                           ==================== ======= ====================
                                                                                                                                                                                                                                                                                                                                                                     
Income (loss) from operations                                                                                           $  11,897                                                              $       -                                                                                   $  (3,569 )                                                                                 $   8,328
Add (deduct):
  Deferred revenue fair value adjustment                                                                                      134                                                                      -                                                                                           -                                                                                         134
  Accretion on contingent consideration                                                                                       143                                                                      -                                                                                           -                                                                                         143
  Depreciation and amortization                                                                                             6,157                                                                      -                                                                                           -                                                                                       6,157
  Non-cash compensation expense                                                                                             3,024                                                                      -                                                                                         385                                                                                       3,409
  Restructuring charges and transaction costs                                                                                   -                                                                      -                                                                                       2,473                                                                                       2,473
  Severance                                                                                                                    22                                                                      -                                                                                           -                                                                                          22
  Fair market value adjustment on contingent consideration                                                                      -                                                                      -                                                                                      (1,889 )                                                                                    (1,889 )
  Loss attributable to non-controlling interest                                                            438                                                   -                                                     -                                                   438  
                                                                                                     -------------------- -------                                           -------------------- ------- --------------------                                           -------------------- ------- --------------------                                           -------------------- ------- --------------------
Adjusted EBITDA                                                                                                         $  21,815                                                              $       -                                                                $  (2,600 )                                                                                 $  19,215  
                                                                                                     ==================== =======                                           ==================== ======= ====================                                           ==================== ======= ====================                                           ==================== ======= ====================
                                                                                                                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                       For the Nine Months Ended September 30, 2016
                                                                                                     ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                               Envestnet                                                                    Envestnet | Yodlee                                                                              Non-Segment                                                                                    Total
                                                                                                     -----------------------------                                          --------------------------------------------------                                          --------------------------------------------------                                          --------------------------------------------------
Revenues                                                                                                                $ 328,417                                                              $  94,267                                                                                   $       -                                                                                   $ 422,684
  Deferred revenue fair value adjustment                                                                   114                                                 667                                                     -                                                   781  
                                                                                                     -------------------- -------                                           -------------------- ------- --------------------                                           -------------------- ------- --------------------                                           -------------------- ------- --------------------
Adjusted revenues                                                                                                       $ 328,531                                                              $  94,934                                                                $       -                                                                $ 423,465  
                                                                                                     ==================== =======                                           ==================== ======= ====================                                           ==================== ======= ====================                                           ==================== ======= ====================
                                                                                                                                                                                                                                                                                                                                                                     
Income (loss) from operations                                                                                           $  32,425                                                              $ (33,728 )                                                                                 $ (19,078 )                                                                                 $ (20,381 )
Add (deduct):
  Deferred revenue fair value adjustment                                                                                      114                                                                    667                                                                                           -                                                                                         781
  Accretion on contingent consideration                                                                                       143                                                                      -                                                                                           -                                                                                         143
  Depreciation and amortization                                                                                            18,786                                                                 31,086                                                                                           -                                                                                      49,872
  Non-cash compensation expense                                                                                             9,151                                                                 12,186                                                                                       4,535                                                                                      25,872
  Restructuring charges and transaction costs                                                                                 361                                                                     34                                                                                       4,089                                                                                       4,484
  Severance                                                                                                                 2,019                                                                    747                                                                                         338                                                                                       3,104
  Fair market value adjustment on contingent consideration                                                                      -                                                                      -                                                                                         838                                                                                         838
  Litigation related expense                                                                                                    -                                                                  3,824                                                                                         241                                                                                       4,065
  Foreign currency and related hedging activity                                                                                 -                                                                   (462 )                                                                                         -                                                                                        (462 )
  Other loss                                                                                                                    -                                                                      -                                                                                          23                                                                                          23
  Loss attributable to non-controlling interest                                                            787                                                   -                                                     -                                                   787  
                                                                                                     -------------------- -------                                           -------------------- ------- --------------------                                           -------------------- ------- --------------------                                           -------------------- ------- --------------------
Adjusted EBITDA                                                                                                         $  63,786                                                              $  14,354                                                                $  (9,014 )                                                                                 $  69,126  
                                                                                                     ==================== =======                                           ==================== ======= ====================                                           ==================== ======= ====================                                           ==================== ======= ====================
                                                                                                                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                       For the Nine Months Ended September 30, 2015
                                                                                                     ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                               Envestnet                                                                    Envestnet | Yodlee                                                                              Non-Segment                                                                                    Total
                                                                                                     -----------------------------                                          --------------------------------------------------                                          --------------------------------------------------                                          --------------------------------------------------
Revenues                                                                                                                $ 302,484                                                              $       -                                                                                   $       -                                                                                   $ 302,484
  Deferred revenue fair value adjustment                                                                   134                                                   -                                                     -                                                   134  
                                                                                                     -------------------- -------                                           -------------------- ------- --------------------                                           -------------------- ------- --------------------                                           -------------------- ------- --------------------
Adjusted revenues                                                                                                       $ 302,618                                                              $       -                                                                $       -                                                                $ 302,618  
                                                                                                     ==================== =======                                           ==================== ======= ====================                                           ==================== ======= ====================                                           ==================== ======= ====================
                                                                                                                                                                                                                                                                                                                                                                     
Income (loss) from operations                                                                                           $  31,945                                                              $       -                                                                                   $ (10,469 )                                                                                 $  21,476
Add (deduct):
  Deferred revenue fair value adjustment                                                                                      134                                                                      -                                                                                           -                                                                                         134
  Accretion on contingent consideration                                                                                       794                                                                      -                                                                                           -                                                                                         794
  Depreciation and amortization                                                                                            17,215                                                                      -                                                                                           -                                                                                      17,215
  Non-cash compensation expense                                                                                             9,095                                                                      -                                                                                       1,062                                                                                      10,157
  Restructuring charges and transaction costs                                                                                   -                                                                      -                                                                                       5,441                                                                                       5,441
  Severance                                                                                                                   877                                                                      -                                                                                           -                                                                                         877
  Fair market value adjustment on contingent consideration                                                                      -                                                                      -                                                                                      (3,791 )                                                                                    (3,791 )
  Other loss                                                                                                                    -                                                                      -                                                                                          32                                                                                          32
  Loss attributable to non-controlling interest                                                          1,305                                                   -                                                     -                                                 1,305  
                                                                                                     -------------------- -------                                           -------------------- ------- --------------------                                           -------------------- ------- --------------------                                           -------------------- ------- --------------------
Adjusted EBITDA                                                                                                         $  61,365                                                              $       -                                                                $  (7,725 )                                                                                 $  53,640  
                                                                                                     ==================== =======                                           ==================== ======= ====================                                           ==================== ======= ====================                                           ==================== ======= ====================
                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                   
                                                                                                                                                                                                       Envestnet, Inc.
                                                                                                                                                                                          Historical Assets, Accounts and Advisors
                                                                                                                                                                                         (in millions, except accounts and advisors)
                                                                                                                                                                                                         (unaudited)
                                                                                                                                                                                                                                                                                                                                                                                   
                                                                                                                                                                                                                                                   As of
                                                                              ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                       September 30,                                                            December 31,                                                               March 31,                                                                June 30,                                                                     September 30,
                                                                                           2015                                                  2015                                                  2016                                                  2016                                                        2016
                                                                              ---------------------------------------------------                      ---------------------------------------------------                      ---------------------------------------------------                      ---------------------------------------------------                      ------------------------------------------
Platform Assets
  Assets Under Management (AUM)                                                                  $    73,164                                                              $    92,559                                                              $    95,489                                                              $    96,700                                                              $              101,924
  Assets Under Administration (AUA)                                               177,121         197,177         207,537         220,690                    231,831
                                                                              -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------------------
    Subtotal AUM/A                                                                                   250,285                                                                  289,736                                                                  303,026                                                                  317,390                                                                             333,755
  Licensing                                                                       538,271         561,699         576,988         685,952                    721,690
                                                                              -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------------------
Total Platform Assets                                                                            $   788,556                        $   851,435                        $   880,014                        $ 1,003,342                        $            1,055,445
                                                                              ==================== ========= ==================== ==================== ==================== ========= ==================== ==================== ==================== ========= ==================== ==================== ==================== ========= ==================== ==================== ==================== ====================
                                                                                                                                                                                                                                                                                                                                                                                   
Platform Accounts
  AUM                                                                                                344,321                                                                  490,471                                                                  498,449                                                                  503,147                                                                             519,717
  AUA                                                                             718,637         807,708         904,373         935,870                    961,590
                                                                              -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------------------
    Subtotal AUM/A                                                                                 1,062,958                                                                1,298,179                                                                1,402,822                                                                1,439,017                                                                           1,481,307
  Licensing                                                                     2,140,672       2,176,068       2,237,427       4,304,645                  4,394,670
                                                                              -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------------------
Total Platform Accounts                                                         3,203,630       3,474,247       3,640,249       5,743,662                  5,875,977
                                                                              ==================== ========= ==================== ==================== ==================== ========= ==================== ==================== ==================== ========= ==================== ==================== ==================== ========= ==================== ==================== ==================== ====================
                                                                                                                                                                                                                                                                                                                                                                                   
Advisors
  AUM/A                                                                                               30,177                                                                   33,775                                                                   35,718                                                                   35,067                                                                              35,861
  Licensing                                                                        13,409          13,553          13,675          16,081                     16,191
                                                                              -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------------------
Total Advisors                                                                     43,586          47,328          49,393          51,148                     52,052
                                                                              ==================== ========= ==================== ==================== ==================== ========= ==================== ==================== ==================== ========= ==================== ==================== ==================== ========= ==================== ==================== ==================== ====================
                                                                                                                                                                                                                                                                                                                                                                                                        

The following tables summarize the changes in AUM and AUA for the three months ended September 30, 2016:

                                                                  Gross                            Redemp-                             Net                          Market              
                                                                              6/30/2016                                                       Sales                             tions                             Flows                                                               Impact                                                                  9/30/2016
 In Millions Except Accounts
---------------------------------                                           -------------------- ---------                                           --------------------------  -------------------- -------------------- -----------------------------   -------------------- -------------------- --------------------------                                            -------------------------                                            -------------------- --------------------
Assets under Management (AUM)                                                                  $    96,700                                                              $  9,310                                                              $  (6,302 )                                                               $  3,008                                                              $ 2,216                                                              $              101,924
Assets under Administration (AUA)                                               220,690                                             19,701       (14,697 )         5,004                                             6,137                                                          231,831
                                                                            -------------------- ---------                                           -------------------- ------ -------------------- -------------------- -------------------- ------- -- -------------------- -------------------- -------------------- ------                                           -------------------- -----                                           -------------------- --------------------
  Total AUM/A                                                                                  $   317,390                                                              $ 29,011                        $ (20,999 )                         $  8,012                                                              $ 8,353                                                              $              333,755
                                                                            ==================== =========                                           ==================== ====== ==================== ==================== ==================== ======= == ==================== ==================== ==================== ======                                           ==================== =====                                           ==================== ====================
     Fee-Based Accounts                                                                          1,439,017                                                                                                                                                                                                                42,290                                                                                                                                                1,481,307
                                                                                                                                                                                                                                                                                                                                                                                                                                                                      

The above AUM/A gross sales figures include $3.4 billion in new client conversions. The Company onboarded an additional $9.1 billion in licensing conversions during the third quarter, bringing total conversions for the quarter to $12.5 billion.

http://cts.businesswire.com/ct/CT?id=bwnews&sty=20161107006521r1&sid=cmtx6&distro=nx&lang=en

View source version on businesswire.com: http://www.businesswire.com/news/home/20161107006521/en/

SOURCE: Envestnet

Envestnet 
Investor Relations 
investor.relations@envestnet.com 
312-827-3940 
or 
Media Relations 
mediarelations@envestnet.com


Register |  Password |  Feedback |  Copyright |  Usage Agreement |  Privacy Policy |  Advertising |  About Us |  Contact Us |  FAQ 

Past performance is not indicative of future results

StockSelector.com, the StockSelector.com logo, and News Selects are trademarks of StockSelector.com.
Copyright © 1998 - 2017 StockSelector.com. All rights reserved.