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 Envestnet Reports Second Quarter 2017 Financial Results
   Tuesday, August 08, 2017 4:05:01 PM ET

Envestnet (ENV ), a leading provider of intelligent systems for wealth management and financial wellness, today reported financial results for its second quarter ended June 30, 2017.

                                                                                                           Three Months Ended                                                                                                                                          Six Months Ended                                                                
Key Financial Metrics                                                                                                                                 June 30,                                                                                                                %                                                                                                              June 30,                                                                                                                           %
(in millions except per share data)               2017           2016        Change        2017          2016                    Change
------------------------------------------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ------  -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ------------------------------
GAAP:                                                                                                                                                                                                                                                                                                                                    
  Total Revenues                                                                                        $  167.4                                                                                   $ 141.7                                                                 18 %                                                                $ 325.2                                                                                   $ 273.5                                                                        19 %
  Net Loss                                                                                                  (6.5 )                                                                                    (7.9 )                                                              (19 %)                                                                 (19.6 )                                                                                   (18.9 )                                                                       4 %
  Net Loss per Diluted Share                                                                            $  (0.15 )                                                                                 $ (0.19 )                                                              (22 %)                                                               $ (0.45 )                                                                                 $ (0.44 )                                                                       2 %
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
Non-GAAP:                                                                             
  Adjusted Revenues(1)                                                                                  $  167.5                                                                                   $ 141.9                                                                 18 %                                                                $ 325.3                                                                                   $ 274.0                                                                        19 %
  Adjusted EBITDA(1)                                                                                        29.5                                                                                      22.3                                                                 32 %                                                                   55.4                                                                                      41.5                                                                        33 %
  Adjusted Net Income(1)                                                                                    13.1                                                                                       9.2                                                                 43 %                                                                   24.7                                                                                      17.0                                                                        45 %
  Adjusted Net Income per Diluted Share(1)                                                              $   0.29                                                                                   $  0.21                                                                 38 %                                                                $  0.54                                                                                   $  0.39                                                                        38 %
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            


"Envestnet continues to execute on its growth strategy," said Jud Bergman, Chairman and CEO. "In the second quarter, we experienced significant growth in recurring subscription revenue, and we further expanded our industry footprint, increasing advisors, accounts and assets served by our integrated wealth management offerings."

"We see significant opportunities ahead, as enterprises and advisors adopt our intelligent systems for wealth management and financial wellness, delivering better financial outcomes for their clients," concluded Mr. Bergman.

Financial Results for the Second Quarter of 2017 Compared to the Second Quarter of 2016:

Total revenues increased 18% to $167.4 million in the three months ended June 30, 2017 from $141.7 million in the three months ended June 30, 2016. Asset-based revenues, which were 59% and 61% of total revenues for the second quarter of 2017 and 2016, respectively, increased 15% from the prior year period. Subscription and licensing revenues increased 27% from the prior year period.

Total operating expenses for the second quarter of 2017 increased 11% to $164.7 million from $148.0 million in the prior year period. Cost of revenues increased 24% to $55.7 million for the second quarter of 2017 from $44.9 million for the second quarter of 2016. Compensation and benefits increased 13% to $65.0 million for the second quarter of 2017 from $57.7 million for the prior year period. Compensation and benefits were 39% of total revenues for the second quarter of 2017, compared to 41% for the prior year period. General and administration expenses were $28.5 million for the second quarter of 2017, consistent with $28.4 million for the prior year period. General and administrative expenses were 17% of total revenues for the second quarter of 2017, compared to 20% for the prior year period.

Income from operations was $2.7 million for the second quarter of 2017 compared to a loss of $6.3 million for the second quarter of 2016. Net loss attributable to Envestnet, Inc. was $6.5 million, or a loss of $0.15 per diluted share, for the second quarter of 2017 compared to a loss of $7.9 million, or a loss of $0.19 per diluted share, for the second quarter of 2016.

Adjusted Revenues(1) for the second quarter of 2017 increased 18% to $167.5 million from $141.9 million for the prior year period. Adjusted EBITDA(1) for the second quarter of 2017 increased 32% to $29.5 million from $22.3 million for the prior year period. Adjusted Net Income(1) increased 43% for the second quarter of 2017 to $13.1 million from $9.2 million for the prior year period. Adjusted Net Income Per Share(1) for the second quarter of 2017 increased 38% to $0.29 from $0.21 in the second quarter of 2016.

Outlook

The Company provided the following outlook for the third quarter ended September 30, 2017 and full year ended December 31, 2017. This outlook is based on the market value of assets on June 30, 2017 and is risk-adjusted with respect to contributions from client conversions and synergy revenue related to prior acquisitions.

In Millions Except Adjusted EPS                                                                            3Q 2017                                                                                                 FY 2017
-------------------------------------------                                          -------------------------------------------------------------------------------------------------------------------------------                                          ------------------------------------------------------------------------
GAAP:                                                                                                                                                                                                           
   AUM/A revenue                                                                                        $      103.5                                             -                                          $ 104.0                                                                      -
   Subscription and licensing revenue                                                                           61.5                                             -                                             62.5                                                                      -
   Professional services and other revenue                                                    5.0       -        5.5                                                                      -
                                                                                     -------------------- ---------- -------------------- -------------------- ---- -------------------- -------------------- -----
   Revenues                                                                                             $      170.0                                             -                                          $ 172.0                                           $ 667                      -                               $        673
                                                                                                                                                                                                                                                                                                                 
   Cost of revenues                                                                                     $       54.0                                             -                                          $  55.0                                                                      -
   Net Income                                                                                                                                                    -                                                                                                                       -
                                                                                                                                                                                                                                                                                                                 
   Diluted shares outstanding                                                                                                               46.5                                                                                                                      -
   Net Income per Diluted Share                                                                                                                                  -                                                                                                                       -
                                                                                                                                                                                                                                                                                                                 
Non-GAAP:
   Adjusted Revenues(1)                                                                                 $      170.0                                             -                                          $ 172.0                                           $ 667                      -                               $        673
   Adjusted EBITDA(1)                                                                                   $       33.0                                             -                                          $  34.0                                           $ 125                      -                               $        128
   Adjusted Net Income per Diluted Share(1)                                                                                               $ 0.35                                                                                                                      -
                                                                                                                                                                                                                                                                                                                 

Included in the full year 2017 adjusted revenue is an expected deferred revenue fair value adjustment of approximately $0.1 million. 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 second quarter 2017 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) 449-5865, or for international callers (719) 325-2356. A replay will be available one hour after the call and can be accessed by dialing (844) 512-2921 or (412) 317-6671 for international callers; the conference ID is 8728459. 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 intelligent systems for wealth management and financial wellness. Envestnet’s unified technology enhances advisor productivity and strengthens the wealth management process. Envestnet empowers enterprises and advisors to more fully understand their clients and deliver better outcomes.

Envestnet 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, cloud-based innovation for digital financial services. Envestnet | Tamarac provides leading rebalancing, reporting, and practice management software for advisors. Envestnet | Retirement Solutions provides retirement advisors with an integrated platform that combines leading practice management technology, research and due diligence, data aggregation, compliance tools, fiduciary solutions and intelligent managed account solutions.

More than 57,000 advisors and 2,500 companies including: 16 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.

(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 and purchase liability, 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, non-income tax expense adjustment, 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 and purchase liability, 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, non-income tax expense adjustment, 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.

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

See reconciliation of Non-GAAP Financial Measures on pages 8-10 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 2017, 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, potential exposure to state and local non-income tax obligations, the Company’s ability to remediate material weaknesses in internal controls over financial reporting and associated costs, 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, potential dilution from issuing equity securities or a weaker balance sheet from using cash or incurring debt to finance acquisitions, 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 August 8, 2017 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)
                                                                                                                                                              
                                                                                                June 30,                                                                    December 31,
                                                                                                  2017                                                                          2016
                                                                                      -----------------------------                                          ------------------------------------------
Assets
Current assets:
  Cash and cash equivalents                                                                              $  27,730                                                              $               52,592
  Fees and other receivables, net                                                                           49,566                                                                              44,268
  Prepaid expenses and other current assets                                              18,938                                                           16,224
                                                                                      -------------------- -------                                           -------------------- --------------------
      Total current assets                                                               96,234                                                          113,084
                                                                                      -------------------- -------                                           -------------------- --------------------
                                                                                                                                                              
Property and equipment, net                                                                                 34,787                                                                              33,000
Internally developed software, net                                                                          18,111                                                                              14,860
Intangible assets, net                                                                                     243,902                                                                             265,558
Goodwill                                                                                                   432,850                                                                             431,936
Other non-current assets                                                                 13,782                                                           13,963
                                                                                      -------------------- -------                                           -------------------- --------------------
      Total assets                                                                                       $ 839,666                                                              $              872,401
                                                                                      ==================== =======                                           ==================== ====================
                                                                                                                                                              
Liabilities and Equity
Current liabilities:
  Accrued expenses and other liabilities                                                                 $  86,230                                                              $               87,763
  Accounts payable                                                                                          11,542                                                                              11,480
  Current portion of debt                                                                                   38,696                                                                              37,926
  Contingent consideration                                                                                   1,995                                                                               2,286
  Deferred revenue                                                                       19,055                                                           16,499
                                                                                      -------------------- -------                                           -------------------- --------------------
      Total current liabilities                                                         157,518                                                          155,954
                                                                                      -------------------- -------                                           -------------------- --------------------
                                                                                                                                                              
Convertible Notes                                                                                          155,729                                                                             152,575
Term Notes                                                                                                  65,350                                                                             100,409
Contingent consideration                                                                                       617                                                                               2,582
Deferred revenue                                                                                            14,865                                                                              15,643
Deferred rent and lease incentive                                                                           14,398                                                                              12,060
Deferred tax liabilities, net                                                                               12,094                                                                               5,555
Other non-current liabilities                                                            15,027                                                           13,436
                                                                                      -------------------- -------                                           -------------------- --------------------
      Total liabilities                                                                 435,598                                                          458,214
                                                                                      -------------------- -------                                           -------------------- --------------------
                                                                                                                                                              
Redeemable units in ERS                                                                                        900                                                                                 900
                                                                                                                                                              
Equity:
  Stockholders’ equity                                                                                     402,770                                                                             412,889
  Non-controlling interest                                                                  398                                                              398
                                                                                      -------------------- -------                                           -------------------- --------------------
      Total liabilities and equity                                                                       $ 839,666                                                              $              872,401
                                                                                      ==================== =======                                           ==================== ====================
                                                                                                                                                                                   
                                                                                                                                                                                                                                    
                                                                                                                                                                                                        Envestnet, Inc.
                                                                                                                                                                                        Condensed Consolidated Statements of Operations
                                                                                                                                                                                    (in thousands, except share and per share information)
                                                                                                                                                                                                          (unaudited)
                                                                                                                                                                                                                                                                                                                                                                           
                                                                                                                                                                  Three Months Ended                                                                                                                                                         Six Months Ended
                                                                                                                                                                       June 30,                                                                                                                                                                  June 30,
                                                                                                 ----------------------------------------------------------------------------------------------------------------------------------------------------                      ----------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                      2017                                                     2016                                 2017                                                     2016     
                                                                                                 -------------------- ---------- --------------------                                           -------------------- ---------- --------------------                       -------------------- ---------- --------------------                                           -------------------- ---------- --------------------
                                                                                                                                                                                                                                                                                                                                                                           
Revenues:
  Assets under management or administration                                                                         $     98,959                                                                                   $     86,056                                                               $    193,121                                                                                   $    168,927
  Subscription and licensing                                                                                              59,802                                                                                         47,037                                                                    117,712                                                                                         90,657
  Professional services and other                                                                       8,656                                                    8,615                               14,370                                                   13,945  
                                                                                                 -------------------- ---------- --------------------                                           -------------------- ---------- --------------------                       -------------------- ---------- --------------------                                           -------------------- ---------- --------------------
       Total revenues                                                                                 167,417                                                  141,708                              325,203                                                  273,529  
                                                                                                 -------------------- ---------- --------------------                                           -------------------- ---------- --------------------                       -------------------- ---------- --------------------                                           -------------------- ---------- --------------------
                                                                                                                                                                                                                                                                                                                                                                           
Operating expenses:
  Cost of revenues                                                                                                        55,735                                                                                         44,902                                                                    104,961                                                                                         85,060
  Compensation and benefits                                                                                               64,996                                                                                         57,664                                                                    130,528                                                                                        120,280
  General and administration                                                                                              28,478                                                                                         28,372                                                                     59,025                                                                                         54,099
  Depreciation and amortization                                                                        15,465                                                   17,100                               31,300                                                   33,180  
                                                                                                 -------------------- ---------- --------------------                                           -------------------- ---------- --------------------                       -------------------- ---------- --------------------                                           -------------------- ---------- --------------------
       Total operating expenses                                                                       164,674                                                  148,038                              325,814                                                  292,619  
                                                                                                 -------------------- ---------- --------------------                                           -------------------- ---------- --------------------                       -------------------- ---------- --------------------                                           -------------------- ---------- --------------------
       Income (loss) from operations                                                                                       2,743                                                                                         (6,330 )                                                                     (611 )                                                                                      (19,090 )
Other expense, net                                                                                     (4,369 )                                                                    (4,831 )                                                (9,852 )                                                                    (8,780 )
                                                                                                 -------------------- ---------- --------------------                                           -------------------- ---------- --------------------                       -------------------- ---------- --------------------                                           -------------------- ---------- --------------------
       Loss before income tax provision (benefit)                                                                         (1,626 )                                                                                      (11,161 )                                                                  (10,463 )                                                                                      (27,870 )
Income tax provision (benefit)                                                                          4,844                                                   (3,218 )                                                 9,142                                                   (8,934 )
                                                                                                 -------------------- ---------- --------------------                                           -------------------- ---------- --------------------                       -------------------- ---------- --------------------                                           -------------------- ---------- --------------------
       Net loss                                                                                                           (6,470 )                                                                                       (7,943 )                                                                  (19,605 )                                                                                      (18,936 )
Add: Net loss attributable to non-controlling interest                                                      -                                                        -                                    -                                                        -  
                                                                                                 -------------------- ---------- --------------------                                           -------------------- ---------- --------------------                       -------------------- ---------- --------------------                                           -------------------- ---------- --------------------
       Net loss attributable to Envestnet, Inc.                                                                     $     (6,470 )                                                                                 $     (7,943 )                                                             $    (19,605 )                                                                                 $    (18,936 )
                                                                                                 ==================== ========== ====================                                           ==================== ========== ====================                       ==================== ========== ====================                                           ==================== ========== ====================
                                                                                                                                                                                                                                                                                                                                                                           
Net loss per share attributable to Envestnet, Inc.:
                                                                                                                                                                                                                                                                                                                                                                           
  Basic                                                                                                             $      (0.15 )                                                                                 $      (0.19 )                                                             $      (0.45 )                                                                                 $      (0.44 )
                                                                                                 ==================== ========== ====================                                           ==================== ========== ====================                       ==================== ========== ====================                                           ==================== ========== ====================
  Diluted                                                                                                           $      (0.15 )                                                                                 $      (0.19 )                                                             $      (0.45 )                                                                                 $      (0.44 )
                                                                                                 ==================== ========== ====================                                           ==================== ========== ====================                       ==================== ========== ====================                                           ==================== ========== ====================
                                                                                                                                                                                                                                                                                                                                                                           
Weighted average common shares outstanding:
  Basic                                                                                            43,855,479                                               42,752,465                           43,513,074                                               42,632,964  
                                                                                                 ==================== ========== ====================                                           ==================== ========== ====================                       ==================== ========== ====================                                           ==================== ========== ====================
  Diluted                                                                                          43,855,479                                               42,752,465                           43,513,074                                               42,632,964  
                                                                                                 ==================== ========== ====================                                           ==================== ========== ====================                       ==================== ========== ====================                                           ==================== ========== ====================
                                                                                                                                                                                                                                                                                                                                                                                                           
                                                                                                                               
                                                                                                                        Envestnet, Inc.
                                                                                                        Condensed Consolidated Statements of Cash Flows
                                                                                                                        (in thousands)
                                                                                                                          (unaudited)
                                                                                                                                                                                                             
                                                                                                                                                                               Six Months Ended
                                                                                                                                                                                   June 30,
                                                                                                                ----------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                    2017                                                  2016   
                                                                                                                -------------------- ------- --------------------                                           -------------------- ------- --------------------
OPERATING ACTIVITIES:
  Net loss                                                                                                                         $ (19,605 )                                                                                 $ (18,936 )
  Adjustments to reconcile net loss to net cash provided by operating
  activities:
    Depreciation and amortization                                                                                                     31,300                                                                                      33,180
    Deferred rent and lease incentive                                                                                                    583                                                                                        (325 )
    Provision for doubtful accounts                                                                                                      341                                                                                         106
    Deferred income taxes                                                                                                              6,524                                                                                       3,504
    Stock-based compensation expense                                                                                                  15,403                                                                                      18,318
    Non-cash interest expense                                                                                                          4,853                                                                                       4,031
    Accretion on contingent consideration and purchase liability                                                                         304                                                                                         120
    Fair market value adjustment on contingent consideration                                                                               -                                                                                         489
    Loss on disposal of fixed assets                                                                                                      69                                                                                         220
    Loss allocation from equity method investment                                                                                        702                                                                                           -
    Changes in operating assets and liabilities, net of acquisitions:
      Fees and other receivables                                                                                                      (5,639 )                                                                                     4,242
      Prepaid expenses and other current assets                                                                                       (2,681 )                                                                                   (17,116 )
      Other non-current assets                                                                                                          (514 )                                                                                    (2,320 )
      Accrued expenses and other liabilities                                                                                            (752 )                                                                                    (4,967 )
      Accounts payable                                                                                                                  (184 )                                                                                     2,597
      Deferred revenue                                                                                                                 1,818                                                                                       1,447
      Other non-current liabilities                                                                                 3,022                                                 1,535  
                                                                                                                -------------------- ------- --------------------                                           -------------------- ------- --------------------
Net cash provided by operating activities                                                                          35,544                                                26,125  
                                                                                                                -------------------- ------- --------------------                                           -------------------- ------- --------------------
                                                                                                                                                                                                             
INVESTING ACTIVITIES:
  Purchase of property and equipment                                                                                                  (9,181 )                                                                                    (4,632 )
  Capitalization of internally developed software                                                                                     (5,651 )                                                                                    (3,245 )
  Purchase of ERS units                                                                                                                    -                                                                                      (1,500 )
  Acquisition of businesses, net of cash acquired                                                                       -                                               (18,394 )
                                                                                                                -------------------- ------- --------------------                                           -------------------- ------- --------------------
Net cash used in investing activities                                                                             (14,832 )                                                                (27,771 )
                                                                                                                -------------------- ------- --------------------                                           -------------------- ------- --------------------
                                                                                                                                                                                                             
FINANCING ACTIVITIES:
  Proceeds from borrowings on revolving credit facility                                                                               25,000                                                                                      15,000
  Payments on revolving credit facility                                                                                              (25,000 )                                                                                   (15,000 )
  Payments of contingent consideration                                                                                                (2,286 )                                                                                         -
  Payments of definite consideration                                                                                                    (445 )                                                                                         -
  Payments of purchase consideration liabilities                                                                                        (235 )                                                                                         -
  Payment of Term Notes                                                                                                              (35,862 )                                                                                    (4,000 )
  Proceeds from exercise of stock options                                                                                              2,617                                                                                       2,279
  Purchase of treasury stock for stock-based tax withholdings                                                                         (9,650 )                                                                                    (9,834 )
  Issuance of restricted stock                                                                                          4                                                     5  
                                                                                                                -------------------- ------- --------------------                                           -------------------- ------- --------------------
Net cash used in financing activities                                                                             (45,857 )                                                                (11,550 )
                                                                                                                -------------------- ------- --------------------                                           -------------------- ------- --------------------
                                                                                                                                                                                                             
EFFECT OF EXCHANGE RATE CHANGES ON CASH                                                                                                  283                                                                                           -
                                                                                                                                                                                                             
DECREASE IN CASH AND CASH EQUIVALENTS                                                                             (24,862 )                                                                (13,196 )
                                                                                                                -------------------- ------- --------------------                                           -------------------- ------- --------------------
                                                                                                                                                                                                             
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD                                                                                        52,592                                                                                      51,718
                                                                                                                                                                                          
                                                                                                                --------------------------------------------------                                          --------------------------------------------------
CASH AND CASH EQUIVALENTS, END OF PERIOD                                                                                           $  27,730                                                                $  38,522  
                                                                                                                ==================== ======= ====================                                           ==================== ======= ====================
                                                                                                                                                                                                             
                                                                                                                                                                                                                                             
                                                                                                                                                                                                                      Envestnet, Inc.
                                                                                                                                                                                                       Reconciliation of Non-GAAP Financial Measures
                                                                                                                                                                                                  (in thousands, except share and per share information)
                                                                                                                                                                                                                        (unaudited)
                                                                                                                                                                                                                                                                                                                                                                                                       
                                                                                                                                                                          Three Months Ended                                                                                                                                                                             Six Months Ended
                                                                                                                                                                               June 30,                                                                                                                                                                                      June 30,
                                                                                                         ----------------------------------------------------------------------------------------------------------------------------------------------------                                          ----------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                              2017                                                     2016                                                     2017                                                     2016     
                                                                                                         -------------------- ---------- --------------------                                           -------------------- ---------- --------------------                                           -------------------- ---------- --------------------                                           -------------------- ---------- --------------------
                                                                                                                                                                                                                                                                                                                                                                                                       
Revenues                                                                                                                    $    167,417                                                                                   $    141,708                                                                                   $    325,203                                                                                   $    273,529
  Deferred revenue fair value adjustment                                                                           52                                                      240                                                      105                                                      450  
                                                                                                         -------------------- ---------- --------------------                                           -------------------- ---------- --------------------                                           -------------------- ---------- --------------------                                           -------------------- ---------- --------------------
Adjusted revenues                                                                                                           $    167,469                                                                $    141,948                                                                $    325,308                                                                $    273,979  
                                                                                                         ==================== ========== ====================                                           ==================== ========== ====================                                           ==================== ========== ====================                                           ==================== ========== ====================
                                                                                                                                                                                                                                                                                                                                                                                                       
Net loss                                                                                                                    $     (6,470 )                                                                                 $     (7,943 )                                                                                 $    (19,605 )                                                                                 $    (18,936 )
Add (deduct):
  Deferred revenue fair value adjustment                                                                                              52                                                                                            240                                                                                            105                                                                                            450
  Interest income                                                                                                                    (29 )                                                                                           (9 )                                                                                          (50 )                                                                                          (22 )
  Interest expense                                                                                                                 3,877                                                                                          4,131                                                                                          8,813                                                                                          8,223
  Accretion on contingent consideration and purchase liability                                                                       148                                                                                             58                                                                                            304                                                                                            120
  Income tax provision (benefit)                                                                                                   4,844                                                                                         (3,218 )                                                                                        9,142                                                                                         (8,934 )
  Depreciation and amortization                                                                                                   15,465                                                                                         17,100                                                                                         31,300                                                                                         33,180
  Non-cash compensation expense                                                                                                    7,945                                                                                          6,703                                                                                         15,403                                                                                         18,194
  Restructuring charges and transaction costs                                                                                      2,249                                                                                          1,157                                                                                          5,627                                                                                          3,486
  Severance                                                                                                                          338                                                                                          1,419                                                                                            663                                                                                          2,046
  Fair market value adjustment on contingent consideration                                                                             -                                                                                            439                                                                                              -                                                                                            489
  Litigation related expense                                                                                                          52                                                                                          1,469                                                                                          1,033                                                                                          1,968
  Foreign currency and related hedging activity                                                                                      122                                                                                           (127 )                                                                                          412                                                                                           (289 )
  Non-income tax expense adjustment                                                                                                  414                                                                                              -                                                                                          1,163                                                                                              -
  Loss allocation from equity method investment                                                                                      417                                                                                            837                                                                                            702                                                                                            880
  Loss attributable to non-controlling interest                                                                   101                                                       48                                                      351                                                      642  
                                                                                                         -------------------- ---------- --------------------                                           -------------------- ---------- --------------------                                           -------------------- ---------- --------------------                                           -------------------- ---------- --------------------
Adjusted EBITDA                                                                                                             $     29,525                                                                $     22,304                                                                $     55,363                                                                $     41,497  
                                                                                                         ==================== ========== ====================                                           ==================== ========== ====================                                           ==================== ========== ====================                                           ==================== ========== ====================
                                                                                                                                                                                                                                                                                                                                                                                                       
Net loss                                                                                                                    $     (6,470 )                                                                                 $     (7,943 )                                                                                 $    (19,605 )                                                                                 $    (18,936 )
Income tax provision (benefit) (1)                                                                              4,844                                                   (3,218 )                                                                     9,142                                                   (8,934 )
                                                                                                         -------------------- ---------- --------------------                                           -------------------- ---------- --------------------                                           -------------------- ---------- --------------------                                           -------------------- ---------- --------------------
Loss before income tax provision                                                                                            $     (1,626 )                                                                                 $    (11,161 )                                                                                 $    (10,463 )                                                                                 $    (27,870 )
Add (deduct):
  Deferred revenue fair value adjustment                                                                                              52                                                                                            240                                                                                            105                                                                                            450
  Accretion on contingent consideration and purchase liability                                                                       148                                                                                             58                                                                                            304                                                                                            120
  Non-cash interest expense                                                                                                        1,331                                                                                          2,018                                                                                          4,853                                                                                          4,031
  Non-cash compensation expense                                                                                                    7,945                                                                                          6,703                                                                                         15,403                                                                                         18,194
  Restructuring charges and transaction costs                                                                                      2,249                                                                                          1,157                                                                                          5,627                                                                                          3,486
  Severance                                                                                                                          338                                                                                          1,419                                                                                            663                                                                                          2,046
  Amortization of acquired intangibles                                                                                            10,371                                                                                         12,195                                                                                         20,956                                                                                         24,121
  Fair market value adjustment on contingent consideration                                                                             -                                                                                            439                                                                                              -                                                                                            489
  Litigation related expense                                                                                                          52                                                                                          1,469                                                                                          1,033                                                                                          1,968
  Foreign currency and related hedging activity                                                                                      122                                                                                           (127 )                                                                                          412                                                                                           (289 )
  Non-income tax expense adjustment                                                                                                  414                                                                                              -                                                                                          1,163                                                                                              -
  Loss allocation from equity method investment                                                                                      417                                                                                            837                                                                                            702                                                                                            880
  Loss attributable to non-controlling interest                                                                   101                                                       48                                                      351                                                      642  
                                                                                                         -------------------- ---------- --------------------                                           -------------------- ---------- --------------------                                           -------------------- ---------- --------------------                                           -------------------- ---------- --------------------
Adjusted net income before income tax effect                                                                                      21,914                                                                                         15,295                                                                                         41,109                                                                                         28,268
Income tax effect (2)                                                                                          (8,766 )                                                                    (6,118 )                                                                   (16,444 )                                                                   (11,307 )
                                                                                                         -------------------- ---------- --------------------                                           -------------------- ---------- --------------------                                           -------------------- ---------- --------------------                                           -------------------- ---------- --------------------
Adjusted net income                                                                                                         $     13,148                                                                $      9,177                                                                $     24,665                                                                $     16,961  
                                                                                                         ==================== ========== ====================                                           ==================== ========== ====================                                           ==================== ========== ====================                                           ==================== ========== ====================
                                                                                                                                                                                                                                                                                                                                                                                                       
Basic number of weighted-average shares outstanding                                                                           43,855,479                                                                                     42,752,465                                                                                     43,513,074                                                                                     42,632,964
Effect of dilutive shares:
  Options to purchase common stock                                                                                             1,597,746                                                                                      1,307,547                                                                                      1,670,493                                                                                      1,269,085
  Unvested restricted stock units                                                                             473,892                                                  169,824                                                  551,227                                                  104,637  
                                                                                                         -------------------- ---------- --------------------                                           -------------------- ---------- --------------------                                           -------------------- ---------- --------------------                                           -------------------- ---------- --------------------
Diluted number of weighted-average shares outstanding                                                      45,927,117                                               44,229,836                                               45,734,794                                               44,006,686  
                                                                                                         ==================== ========== ====================                                           ==================== ========== ====================                                           ==================== ========== ====================                                           ==================== ========== ====================
                                                                                                                                                                                                                                                                                                                                                                                                       
Adjusted net income per share - diluted                                                                                     $       0.29                                                                $       0.21                                                                $       0.54                                                                $       0.39  
                                                                                                         ==================== ========== ====================                                           ==================== ========== ====================                                           ==================== ========== ====================                                           ==================== ========== ====================
(1) For the three months ended June 30, 2017 and 2016, the
effective tax rate computed in accordance with US GAAP equaled
(297.9%) and 28.8%, respectively. For the six months ended June
30, 2017 and 2016, the effective tax rate computed in accordance
with US GAAP equaled (87.4%) and 32.1%, respectively.
 
(2) An estimated normalized effective tax rate of 40% has been used
to compute adjusted net income.
 
                                                                                                                                                                                                              
                                                                                                                                                                                                     Envestnet, Inc.
                                                                                                                                                                                      Reconciliation of Non-GAAP Financial Measures
                                                                                                                                                                                                   Segment Information
                                                                                                                                                                                                     (in thousands)
                                                                                                                                                                                                       (unaudited)
                                                                                                                                                                                                                                                                                                                                                                        
                                                                                                                                                                                                                                                 Three Months Ended June 30, 2017
                                                                                                         ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                   Envestnet                                                                    Envestnet | Yodlee                                                                             Nonsegment                                                                                     Total
                                                                                                         -----------------------------                                          --------------------------------------------------                                          -------------------------------------------------                                          --------------------------------------------------
                                                                                                                                                                                                                                                                                                                                                                        
Revenues                                                                                                                    $ 129,372                                                              $  38,045                                                                                   $      -                                                                                   $ 167,417
  Deferred revenue fair value adjustment                                                                         7                                                  45                                                    -                                                    52  
                                                                                                         -------------------- -------                                           -------------------- ------- --------------------                                           -------------------- ------ --------------------                                           -------------------- ------- --------------------
Adjusted revenues                                                                                                           $ 129,379                                                              $  38,090                                                                $      -                                                                $ 167,469  
                                                                                                         ==================== =======                                           ==================== ======= ====================                                           ==================== ====== ====================                                           ==================== ======= ====================
                                                                                                                                                                                                                                                                                                                                                                        
Income (loss) from operations                                                                                               $  15,811                                                              $  (5,635 )                                                                                 $ (7,433 )                                                                                 $   2,743
Add (deduct):
  Deferred revenue fair value adjustment                                                                                            7                                                                     45                                                                                          -                                                                                          52
  Accretion on contingent consideration and purchase liability                                                                    148                                                                      -                                                                                          -                                                                                         148
  Depreciation and amortization                                                                                                 6,361                                                                  9,104                                                                                          -                                                                                      15,465
  Non-cash compensation expense                                                                                                 4,218                                                                  2,721                                                                                      1,006                                                                                       7,945
  Restructuring charges and transaction costs                                                                                     600                                                                      -                                                                                      1,649                                                                                       2,249
  Non-income tax expense adjustment                                                                                               414                                                                      -                                                                                          -                                                                                         414
  Severance                                                                                                                       307                                                                     15                                                                                         16                                                                                         338
  Fair market value adjustment on contingent consideration                                                                          -                                                                      -                                                                                          -                                                                                           -
  Litigation related expense                                                                                                        -                                                                     52                                                                                          -                                                                                          52
  Other loss                                                                                                                        -                                                                      -                                                                                         18                                                                                          18
  Loss attributable to non-controlling interest                                                                101                                                   -                                                    -                                                   101  
                                                                                                         -------------------- -------                                           -------------------- ------- --------------------                                           -------------------- ------ --------------------                                           -------------------- ------- --------------------
Adjusted EBITDA                                                                                                             $  27,967                                                              $   6,302                                                                $ (4,744 )                                                                                 $  29,525  
                                                                                                         ==================== =======                                           ==================== ======= ====================                                           ==================== ====== ====================                                           ==================== ======= ====================
                                                                                                                                                                                                                                                                                                                                                                        
                                                                                                                                                                                                                                                                                                                                                                        
                                                                                                                                                                                                                                                 Three Months Ended June 30, 2016
                                                                                                         ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                   Envestnet                                                                    Envestnet | Yodlee                                                                             Nonsegment                                                                                     Total
                                                                                                         -----------------------------                                          --------------------------------------------------                                          -------------------------------------------------                                          --------------------------------------------------
                                                                                                                                                                                                                                                                                                                                                                        
Revenues                                                                                                                    $ 110,716                                                              $  30,992                                                                                   $      -                                                                                   $ 141,708
  Deferred revenue fair value adjustment                                                                        17                                                 223                                                    -                                                   240  
                                                                                                         -------------------- -------                                           -------------------- ------- --------------------                                           -------------------- ------ --------------------                                           -------------------- ------- --------------------
Adjusted revenues                                                                                                           $ 110,733                                                              $  31,215                                                                $      -                                                                $ 141,948  
                                                                                                         ==================== =======                                           ==================== ======= ====================                                           ==================== ====== ====================                                           ==================== ======= ====================
                                                                                                                                                                                                                                                                                                                                                                        
Income (loss) from operations                                                                                               $  10,490                                                              $ (11,271 )                                                                                 $ (5,549 )                                                                                 $  (6,330 )
Add (deduct):
  Deferred revenue fair value adjustment                                                                                           17                                                                    223                                                                                          -                                                                                         240
  Accretion on contingent consideration and purchase liability                                                                     58                                                                      -                                                                                          -                                                                                          58
  Depreciation and amortization                                                                                                 6,360                                                                 10,740                                                                                          -                                                                                      17,100
  Non-cash compensation expense                                                                                                 2,371                                                                  3,225                                                                                      1,107                                                                                       6,703
  Restructuring charges and transaction costs                                                                                     240                                                                     27                                                                                        890                                                                                       1,157
  Severance                                                                                                                     1,029                                                                    370                                                                                         20                                                                                       1,419
  Fair market value adjustment on contingent consideration                                                                          -                                                                      -                                                                                        439                                                                                         439
  Litigation related expense                                                                                                        -                                                                  1,239                                                                                        230                                                                                       1,469
  Other loss                                                                                                                        -                                                                      -                                                                                          1                                                                                           1
  Loss attributable to non-controlling interest                                                                 48                                                   -                                                    -                                                    48  
                                                                                                         -------------------- -------                                           -------------------- ------- --------------------                                           -------------------- ------ --------------------                                           -------------------- ------- --------------------
Adjusted EBITDA                                                                                                             $  20,613                                                              $   4,553                                                                $ (2,862 )                                                                                 $  22,304  
                                                                                                         ==================== =======                                           ==================== ======= ====================                                           ==================== ====== ====================                                           ==================== ======= ====================
                                                                                                                                                                                                                                                                                                                                                                                                     
                                                                  
                                                                                                                                                                                                      Envestnet, Inc.
                                                                                                                                                                                       Reconciliation of Non-GAAP Financial Measures
                                                                                                                                                                                                    Segment Information
                                                                                                                                                                                                      (in thousands)
                                                                                                                                                                                                        (unaudited)
                                                                                                          
                                                                                                                                                                                                                                                  Six Months Ended June 30, 2017
                                                                                                         ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                   Envestnet                              Envestnet | Yodlee                                        Nonsegment                                               Total
                                                                                                         -----------------------------                                          --------------------------------------------------                                          --------------------------------------------------                                          --------------------------------------------------
                                                                                                                                                                                                                                                                                                                                                                         
Revenues                                                                                                                    $ 250,690                                                              $  74,513                                                                                   $       -                                                                                   $ 325,203
  Deferred revenue fair value adjustment                                                                        36                                                  69                                                     -                                                   105  
                                                                                                         -------------------- -------                                           -------------------- ------- --------------------                                           -------------------- ------- --------------------                                           -------------------- ------- --------------------
Adjusted revenues                                                                                                           $ 250,726                                                              $  74,582                                                                $       -                                                                $ 325,308  
                                                                                                         ==================== =======                                           ==================== ======= ====================                                           ==================== ======= ====================                                           ==================== ======= ====================
                                                                                                                                                                                                                                                                                                                                                                         
Income (loss) from operations                                                                                               $  29,322                                                              $ (13,343 )                                                                                 $ (16,590 )                                                                                 $    (611 )
Add (deduct):
  Deferred revenue fair value adjustment                                                                                           36                                                                     69                                                                                           -                                                                                         105
  Accretion on contingent consideration and purchase liability                                                                    304                                                                      -                                                                                           -                                                                                         304
  Depreciation and amortization                                                                                                12,782                                                                 18,518                                                                                           -                                                                                      31,300
  Non-cash compensation expense                                                                                                 7,892                                                                  5,462                                                                                       2,049                                                                                      15,403
  Restructuring charges and transaction costs                                                                                     695                                                                      -                                                                                       4,932                                                                                       5,627
  Non-income tax expense adjustment                                                                                             1,163                                                                      -                                                                                           -                                                                                       1,163
  Severance                                                                                                                       423                                                                    224                                                                                          16                                                                                         663
  Fair market value adjustment on contingent consideration                                                                          -                                                                      -                                                                                           -                                                                                           -
  Litigation related expense                                                                                                        -                                                                  1,033                                                                                           -                                                                                       1,033
  Other loss                                                                                                                        -                                                                      -                                                                                          25                                                                                          25
  Loss attributable to non-controlling interest                                                                351                                                   -                                                     -                                                   351  
                                                                                                         -------------------- -------                                           -------------------- ------- --------------------                                           -------------------- ------- --------------------                                           -------------------- ------- --------------------
Adjusted EBITDA                                                                                                             $  52,968                                                              $  11,963                                                                $  (9,568 )                                                                                 $  55,363  
                                                                                                         ==================== =======                                           ==================== ======= ====================                                           ==================== ======= ====================                                           ==================== ======= ====================
                                                                                                                                                                                                                                                                                                                                                                         
                                                                                                                                                                                                                                                                                                                                                                         
                                                                                                                                                                                                                                                  Six Months Ended June 30, 2016
                                                                                                         ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                   Envestnet                                                                    Envestnet | Yodlee                                                                              Nonsegment                                                                                     Total
                                                                                                         -----------------------------                                          --------------------------------------------------                                          --------------------------------------------------                                          --------------------------------------------------
                                                                                                                                                                                                                                                                                                                                                                         
Revenues                                                                                                                    $ 213,906                                                              $  59,623                                                                                   $       -                                                                                   $ 273,529
  Deferred revenue fair value adjustment                                                                         6                                                 444                                                     -                                                   450  
                                                                                                         -------------------- -------                                           -------------------- ------- --------------------                                           -------------------- ------- --------------------                                           -------------------- ------- --------------------
Adjusted revenues                                                                                                           $ 213,912                                                              $  60,067                                                                $       -                                                                $ 273,979  
                                                                                                         ==================== =======                                           ==================== ======= ====================                                           ==================== ======= ====================                                           ==================== ======= ====================
                                                                                                                                                                                                                                                                                                                                                                         
Income (loss) from operations                                                                                               $  20,064                                                              $ (25,312 )                                                                                 $ (13,842 )                                                                                 $ (19,090 )
Add (deduct):
  Deferred revenue fair value adjustment                                                                                            6                                                                    444                                                                                           -                                                                                         450
  Accretion on contingent consideration and purchase liability                                                                    120                                                                      -                                                                                           -                                                                                         120
  Depreciation and amortization                                                                                                12,424                                                                 20,756                                                                                           -                                                                                      33,180
  Non-cash compensation expense                                                                                                 5,586                                                                  9,250                                                                                       3,358                                                                                      18,194
  Restructuring charges and transaction costs                                                                                     327                                                                     31                                                                                       3,128                                                                                       3,486
  Severance                                                                                                                     1,029                                                                    679                                                                                         338                                                                                       2,046
  Fair market value adjustment on contingent consideration                                                                          -                                                                      -                                                                                         489                                                                                         489
  Litigation related expense                                                                                                        -                                                                  1,738                                                                                         230                                                                                       1,968
  Other loss                                                                                                                        -                                                                      -                                                                                          12                                                                                          12
  Loss attributable to non-controlling interest                                                                642                                                   -                                                     -                                                   642  
                                                                                                         -------------------- -------                                           -------------------- ------- --------------------                                           -------------------- ------- --------------------                                           -------------------- ------- --------------------
Adjusted EBITDA                                                                                                             $  40,198                                                              $   7,586                                                                $  (6,287 )                                                                                 $  41,497  
                                                                                                         ==================== =======                                           ==================== ======= ====================                                           ==================== ======= ====================                                           ==================== ======= ====================
                                                                                                                                                                                                                                                                                                                                                                         
                                                                                                                                                                                                                                                               
                                                                                                                                                                                                       Envestnet, Inc.
                                                                                                                                                                                          Historical Assets, Accounts and Advisors
                                                                                                                                                                                         (in millions, except accounts and advisors)
                                                                                                                                                                                                         (unaudited)
                                                                                                                                                                                                                                                                                                                                                                                   
                                                                                                                                                                                                                                                   As of
                                                                              ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                    June 30,                                                               September 30,                                                            December 31,                                                               March 31,                                                           June 30,
                                                                                                      2016                                                  2016                                                  2016                                                  2017                                             2017
                                                                              ------------------------------------------------------------------------ ------------------------------------------------------------------------ ------------------------------------------------------------------------ ------------------------------------------------------------------------ ------------------------------------------
                                                                                                                                                                                                                                                                                                                                                                                   
Platform Assets
  Assets Under Management (AUM)                                                                  $    96,700                                                              $   101,924                                                              $   105,178                                                              $   113,544                                                              $              122,543
  Assets Under Administration (AUA)                                               220,690         231,831         241,682         248,445                    271,450
                                                                              -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------------------
    Subtotal AUM/A                                                                                   317,390                                                                  333,755                                                                  346,860                                                                  361,989                                                                             393,993
  Licensing                                                                       685,952         721,690         748,125         763,372                    825,829
                                                                              -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------------------
Total Platform Assets                                                                            $ 1,003,342                        $ 1,055,445                        $ 1,094,985                        $ 1,125,361                        $            1,219,822
                                                                              ==================== ========= ==================== ==================== ==================== ========= ==================== ==================== ==================== ========= ==================== ==================== ==================== ========= ==================== ==================== ==================== ====================
                                                                                                                                                                                                                                                                                                                                                                                   
Platform Accounts
  AUM                                                                                                503,147                                                                  519,717                                                                  545,130                                                                  574,132                                                                             614,973
  AUA                                                                             935,870         961,590         994,583         986,554                  1,083,417
                                                                              -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------------------
    Subtotal AUM/A                                                                                 1,439,017                                                                1,481,307                                                                1,539,713                                                                1,560,686                                                                           1,698,390
  Licensing                                                                     4,304,645       4,394,670       4,558,883       4,263,002                  4,811,390
                                                                              -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------------------
Total Platform Accounts                                                         5,743,662       5,875,977       6,098,596       5,823,688                  6,509,780
                                                                              ==================== ========= ==================== ==================== ==================== ========= ==================== ==================== ==================== ========= ==================== ==================== ==================== ========= ==================== ==================== ==================== ====================
                                                                                                                                                                                                                                                                                                                                                                                   
Advisors
  AUM/A                                                                                               35,067                                                                   35,861                                                                   36,483                                                                   36,985                                                                              38,498
  Licensing                                                                        16,081          16,191          17,852          18,159                     19,007
                                                                              -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------------------
Total Advisors                                                                     51,148          52,052          54,335          55,144                     57,505
                                                                              ==================== ========= ==================== ==================== ==================== ========= ==================== ==================== ==================== ========= ==================== ==================== ==================== ========= ==================== ==================== ==================== ====================
                                                                                                                                                                                                                                                                                                                                                                                                        

The following tables summarize the changes in AUM and AUA for the three months ended June 30, 2017:

                                                                                       Gross                           Redemp-                            Net                          Market            
In Millions Except Accounts                                                      3/31/2017                                                      Sales                                               tions                                               Flows                                            Impact                                        6/30/2017
---------------------------------                                           -------------------- -------------------- ---------                                           --------------------------                        ----------------------------                         ---------------------------                        -------------------------                        -------------------- --------------------
                                                                                                                                                                                                                                                                                                                                                                                      
Assets under Management (AUM)                                                                                       $   113,544                                                              $ 13,690                                          $  (7,222 )                                          $   6,468                                          $ 2,531                                          $              122,543
Assets under Administration (AUA)                                                                    248,445                                             30,282                         (12,667 )                          17,615                         5,390                                      271,450
                                                                                                 -------------------- ---------                                           -------------------- ------                       -------------------- ------- -                       -------------------- -------                       -------------------- -----                       -------------------- --------------------
  Total AUM/A                                                                                                       $   361,989                                                              $ 43,972                                          $ (19,889 )                                          $  24,083                                          $ 7,921                                          $              393,993
                                                                                                 ==================== =========                                           ==================== ======                       ==================== ======= =                       ==================== =======                       ==================== =====                       ==================== ====================
                                                                                                                                                                                                                                                                                                                                                                                      
     Fee-Based Accounts                                                                                               1,560,686                                                                                                                                                                       137,704                                                                                                        1,698,390
                                                                                                                                                                                                                                                                                                                                                                                                           

The above AUM/A gross sales figures include $10.9 billion in new client conversions. The Company onboarded an additional $8.9 billion in licensing conversions during the second quarter, bringing total conversions for the quarter to $19.8 billion.

http://cts.businesswire.com/ct/CT?id=bwnews&sty=20170808006174r1&sid=cmtx6&distro=nx&

View source version on businesswire.com: http://www.businesswire.com/news/home/20170808006174/en/

SOURCE: Envestnet

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


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