Envestnet Acquires Non-Controlling Stake in Ellevest


February 18, 2022

On January 25, 2022, it was announced that Envestnet, Inc. had acquired a non-controlling stake in Ellevest, Inc.

Under the terms of the transaction, Envestnet, Inc. (“Envestnet”) acquired a non-controlling stake in Ellevest, Inc. (“Ellevest”). The transaction was announced in Ellevest’s Form ADV. Ellevest now provides access to Envestnet-affiliated executive coaching and financial planning packages. Further terms of the deal were not disclosed.

Envestnet (NYSE: ENV), based in Chicago, Illinois, is a financial technology corporation, providing innovative technology, solutions and intelligence to advisors and financial service providers. As of September 30, 2021, Envestnet had approximately $5.4 trillion in total platform assets.

Ellevest, based in New York, New York, is a female-focused automated financial advice platform. Ellevest  has approximately $1 billion in assets under management.

To read the article, please click here.

The opinions expressed are those of the author(s) and do not necessarily reflect the views of the firm or its clients, or any of its or their respective affiliates. This article is for general information purposes and is not intended to be and should not be taken as legal advice.