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.