Pressed by a Wall Street analyst, Bill Crager defines 'financial wellness,' a touchy-feely 'Hallmark' concept that just happens to be sweeping the financial services industry

The Envestnet CEO was self-deprecating about the 'Hallmark card' aspect of financial wellness but is targeting the company's full arsenal of products and services on the sweet equilibrium between money and life.

Author Oisin Breen October 27, 2020 at 9:32 PM

4 Comments

Bill Crager is sold on financial wellness. The concept was mentioned 29 times in less than an hour at an earnings call.

ETFs

Technology

Bill Crager

Envestnet

Frank Reilly

October 28, 2020 — 4:31 AM

Was nobody around 10 to 15 years ago as unnamed advisors were talking about "Holistic" advice? How is this different? "It's centered around an expanding definition of financial advice and the role of an advisor," To funny!

Chris Heye

October 28, 2020 — 12:49 PM

Maybe this will help? https://www.financialplanningassociation.org/article/journal/SEP20-introducing-hierarchy-financial-wellness

Maria Marsala

October 28, 2020 — 3:20 PM

Agree Frank. It's about naming what advisors do... should be doing... etc. It has to be about what the end result a person wants to achieve and include all the other spokes of a person's life. I think holistic... has a certain air about it for some people. Financial wellness I think is a more marketable phrase pertaining to the same thing. I did a search on financial wellness and it was interesting how many definitions were from the last few years. Just that I find, even when looking at the spokes in a person's life, it's not "balanced" -- where lets say every area gets a 5, 9 or 10, etc. It's more about a picture of what having and living a full-filled life is about.

Maria Marsala

October 28, 2020 — 3:23 PM

Related Moves

Bill Crager shuffles the deck on management team created just seven months ago: Tony Leal is out of 'Big Three' inner circle, replaced by Morgan Stanley vet Rose Palazzo

The RIA software 'trailblazer' and co-founder of MoneyGuidePro has been working on departure for a year; will transition to a 'consultant,' company says

January 7, 2023 at 1:50 AM

Envestnet just named an ESG head to meld 'wellness,' 'The Intelligent Financial Life' and 'sustainable investing' into a single nirvana -- that starts outside of the product realm

Ron Ransom earned CEO Bill Crager's trust as chief business development officer and now will define how Envestnet conducts itself as a global citizen and vendor of wellness.

July 27, 2022 at 2:27 AM

Biz Briefs: SEC cracks down anew on RIA reverse churning ~ Envestnet borrows $350 million to buy its own stock ~ Fidelity is creating a crypto waiting list while exec questions crypto ecosystem

Fed up SEC is ready to take on all nonsense at once; stock shocks, Orwell's new name game; Fidelity hosts a line dance

November 18, 2022 at 2:56 AM

Envestnet and Edmond Walters end odd couple 'Apprise' relationship with buyout, but leave open the door to jointly pursue RIA-to-entrepreneur dashboard... later

The MoneyGuidePro owner and eMoney founder execute clean break with Apprise IP rebranded as 'Wealth Studio.' Walters off to the races with a startup and vague promise to collaborate later.

April 6, 2021 at 12:50 AM

See more related moves

Mentioned in this article:

Envestnet Inc
TAMP
Top Executive: Jud Bergman