The proliferation of investment data providers, software companies, and technology services platforms to investment advisors over the last several years has been astounding. Having been in the industry for nearly two decades, it has been amazing how transformative the business has become as advisors and broker-dealers have access to a profound amount of options to support their practices.
Envestnet (ENV) is one such provider who began offering wealth management solutions to financial advisors in 1999. I noted a few of the same points I will make below in my article on a similar provider and competitor, Morningstar (MORN).
The industry is still in its infancy and the intense competition will eventually lower prices and consolidate...
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