Envestnet (NYSE:ENV), which has a market cap of just $440mm, is a highly successful company focused on helping the independent investment advisor. It touches over $347 billion in assets, and its business model as a platform is highly compelling for its recurring revenue and stickiness. Strong management with skin-in-the-game and a long-term oriented strategy is likely to continue to build shareholder value. A series of strategic acquisitions that temporarily slowed EPS growth in 2012 and the overhang of a likely equity offering ahead of approximately 1/4 of the shares (from existing shareholders) have created a potentially attractive entry for new investors.
ENV, based in Chicago, was formed in 1999 and is now one of the largest...
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