Envestnet Sale to Bain Capital: July 11, 2024

Background 

On July 11, Envestnet, Inc. announced it entered a definitive agreement to be acquired by Bain Capital. Reverence Capital Partners and strategic partners BlackRock, Fidelity Investments, Franklin Templeton, and State Street Global Advisors have committed to invest in the proposed transaction, and upon its completion they will hold minority positions in the private company. This acquisition was expected as Envestnet has publicly discussed options for a potential sale.  

Talking Points (only to be used verbally) 

How will this impact eMoney’s business? 

This acquisition will not impact eMoney. We remain committed to providing exceptional service and innovative solutions to more than 109,000 users. We are energized by our clients who consistently rank our technology highest for its comprehensive planning capabilities and depth of analysis; and rate our customer service as best-in-class. We continue to focus on delivering solutions that meet the evolving needs of financial professionals and their clients. As 2024 progresses, we are on track for a record-breaking year in terms of growth and market presence. 

Why is Fidelity investing in the Envestnet acquisition by Bain Capital? 

Fidelity is making a strategic corporate investment as minority shareholder in the business. It’s important to note that this is an investment by Fidelity Management & Research Company on behalf of mutual fund shareholders. Additionally, Fidelity Managed Account Xchange^® (FMAX), Fidelity’s wealth management platform, has had a long-standing integration with Envestnet’s data management and investment solutions, which will remain unchanged post-acquisition.

eMoney and Fidelity Relationship 

We have strong backing from Fidelity, our parent company. 

• Fidelity Investments acquired eMoney in 2015, and since that time eMoney has nearly tripled in size.   

• eMoney operates independently, and we maintain a strong relationship with our parent company.    

• We collaborate often and Fidelity continues to support the value we provide to financial professionals and the planning experience. 

Questions 

Any media inquiries or questions that fall outside the scope of the information provided above should be forwarded to Joanna Armandi, Director, Corporate Communications.