Envestnet Completes Acquisition of Prudential Wealth Management Solutions

  Envestnet Completes Acquisition of Prudential Wealth Management Solutions

Acquisition Establishes Envestnet as the Financial Service Industry's Largest
Independent Wealth Management Platform

PR Newswire

CHICAGO, July 1, 2013

CHICAGO, July 1, 2013 /PRNewswire/ --Envestnet, Inc. (NYSE: ENV), a leading
provider of unified wealth management technology and services to investment
advisors, announced today that it has completed the acquisition of the assets
of the Wealth Management Solutions ("WMS") division of Prudential Investments.
Once the integration is fully implemented, advisors and their clients will
gain the benefits of Envestnet's scalable wealth management platform,
institutional-quality manager research and broad product access, integrated
with the practice management expertise of Prudential WMS.

"Our growth strategy is focused on broadening and deepening our existing
relationships as well as establishing and expanding our leadership in key
market segments," said Jud Bergman, Chairman and Chief Executive Officer,
Envestnet. "This combination of Envestnet's best-in-class technology and WMS's
practice management leadership will help banks and bank trust departments of
all sizes realize the full benefits of our unified and scalable wealth
management platform."

"The acquisition of WMS confirms Envestnet's leadership in managed account
solutions, solidifies our presence in the bank and trust channel, expands our
reach into the Canadian market and strengthens our practice management
capabilities," said Bill Crager, President, Envestnet.

Prudential WMS has more than 30 years of experience helping financial services
firms develop and enhance their wealth management offerings. Seasoned industry
experts consult with client firms to help envision, design and implement
wealth management offerings to optimize workflows and improve growth
and profitability.

Envestnet acquired the assets of Prudential WMS for $10 million in cash upon
closing, plus contingent consideration of up to a total of $23 million in cash
to be paid over three years. Kevin Osborn, Executive Vice President and
Director of Prudential WMS, will join Envestnet as Executive Vice President to
lead the new Bank and Bank Trust sales channel.

As of March 31, 2013, Prudential WMS administered approximately $23.7 billion
on behalf of institutional clients. After including assets from WMS, Envestnet
now leads several wealth management industry rankings, most notably:

  o#1 Third Party Vendor ("TPV") – $152 billion in TPV AUM/AUA assets as of
    March 31, 2013, according to Cerulli;
  o#1 service provider for sponsored and non-sponsored assets by TPV as of
    March 31, 2013 according to MMI; and
  o#1 in top service providers by total assets (managed solutions and AUA)
    with $430 billion in assets as of March 31, 2013, according to MMI.

"This is a transformational integration that will ultimately benefit all of
our clients, and especially those within the banking channel," said Kevin
Osborn, Executive Vice President, Envestnet Wealth Management Solutions. "Our
mission is to create better ways to manage wealth that meet our clients' needs
today while positioning them for greater success well into the future."

Silver Lane Advisors LLC served as financial advisor to Prudential Financial,
Inc. Envestnet did not retain a financial advisor. Mayer Brown LLP acted as
legal counsel to Envestnet and Wilmer Cutler Pickering Hale and Dorr LLP acted
as counsel to Prudential Financial, Inc.

Envestnet, Inc. (NYSE: ENV) is a leading provider of unified wealth management
technology andservices to investment advisors. Our open-architecture
platforms unify and fortify the wealth management process, delivering
unparalleled flexibility, accuracy, performance and value. Envestnet solutions
enable the transformation of wealth management into a transparent,
independent, objective and fully-aligned standard of care, and empower
advisors to deliver better results.

Envestnet's Advisor Suite® software empowers financial advisors to better
manage client outcomes and strengthen their practice. Envestnet provides
institutional-quality research and advanced portfolio solutions through our
Portfolio Management Consultants group, Envestnet | PMC®. Envestnet | Tamarac
provides leading rebalancing, reporting and practice management software.
For more information on Envestnet, please visit www.envestnet.com.

Cautionary Statement Regarding Forward-Looking Statements
The forward-looking statements made in this press release concerning, among
other things, Envestnet, Inc.'s (the "Company") expected financial performance
and outlook, its strategic operational plans and growth strategy are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. These statements involve risks and uncertainties and the
Company's actual results could differ materially from the results expressed or
implied by such forward-looking statements.

Furthermore, reported results should not be considered as an indication of
future performance. The potential risks, uncertainties and other factors that
could cause actual results to differ from those expressed by the
forward-looking statements in this press release. For example, the
Company's forward-looking statements related to WMS could prove incorrect if
WMS were to perform differently than currently expected by the Company or if
anticipated benefits of the transaction are not realized. More generally,
potential risks, uncertainties and other factors relating to the Company's
business include, but are not limited to, difficulty in sustaining rapid
revenue growth, which may place significant demands on the Company's
administrative, operational and financial resources, fluctuations in the
Company's revenue, the concentration of nearly all of the Company's revenues
from the delivery of investment solutions and services to clients in the
financial advisory industry, the Company's reliance on a limited number of
clients for a material portion of its revenue, the renegotiation of fee
percentages or termination of the Company's services by its clients, the
impact of market and economic conditions on the Company's revenues, compliance
failures, regulatory actions against the Company, the failure to protect the
Company's intellectual property rights, the Company's inability to
successfully execute the conversion of its clients' assets from their
technology platform to the Company's technology platform in a timely and
accurate manner, general economic, political and regulatory
conditions, as well as management's response to these factors.
More information regarding these and other risks, uncertainties
and factors is contained in the Company's filings with the Securities and
Exchange Commission ("SEC") which are available on the SEC's website at
www.sec.gov or the Company's Investor Relations website at
http://ir.envestnet.com/. You are cautioned not to unduly rely on these
forward-looking statements, which speak only as of the date of this press
release. All information in this press release is as of July 1, 2013 and,
unless required by law, the Company undertakes no obligation to publicly
revise any forward-looking statement to reflect circumstances or events after
the date of this press release or to report the occurrence of unanticipated

Investors:         Media:
Investor Relations    Dana Taormina, JCPR
investor.relations@envestnet.com       dtaormina@jcprinc.com
(312) 827-3940 (973) 850-7305

SOURCE Envestnet, Inc.

Website: http://www.envestnet.com
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