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Articles tagged "Jud Bergman"


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Bill Crager (left with Jud Bergman) finally replaces his dear friend as CEO, but filling the chairman spot had its own complexities.

Behind the scenes, Envestnet's board of directors had much to tussle over before finally subtracting the 'interim' from Bill Crager's CEO title

With Jud Bergman gone at a chairman, a power struggle ensued to fill that spot, and the process dragged when taking the company private came under review

April 2, 2020 at 2:34 AM

Bill Crager has another issue on his plate, the possible sale of Envestnet or Yodlee.

Envestnet, caught in speculative web over possible Yodlee spinoff--or sale of company, itself--has Wall Street scrambling to buy on the rumor

'Large private-equity firms, in particular, are said to be interested,' Barron's reports, but who's driving the conversation--the company, news media or speculators?

February 3, 2020 at 8:26 PM

Jud Bergman: 'I was a reluctant entrepreneur. There was never an 'aha' moment, just a growing conviction that this was a good thing to do.'

Jud Bergman, wife Mary Miller-Bergman die tragically in San Francisco head-on car collision, stunning a devastated RIA business community

The 62 year-old Envestnet CEO, chairman and co-founder was in a taxi crash in San Francisco with suspected drunk driver; Miller founded Hanover Hill Wealth Advisors in Chicago

October 4, 2019 at 4:47 AM

Charles Goldman: 'I am fully committed to AssetMark, and my contract will be done well before October.'

After a great IPO, AssetMark still needs to nail down its biggest asset, Charles Goldman, who assures that it's 'really nothing'

The CEO of the Concord, Calif.-based super-TAMP was its turnaround artist, maestro of sale to Chinese buyer and led it to the IPO but he was paid less than peers

August 16, 2019 at 9:31 PM

Jud Bergman: I am highly confident that eventually we will find a new solution with a new provider that enables us to address this market opportunity.

Jud Bergman admits Envestnet will be set back months, if not quarters at hands of Marc Kasowitz and his client, causing firm's shares to plummet

With FinancialApps yanking its software from its Chicago-based ex-partner -- and suing it on the way out the door -- the Envestnet CEO needs to find replacement and ward off a legal attack

August 10, 2019 at 6:09 PM

Jud Bergman: We expect ... flat top line revenue for a period of one to as long as three years.

With Anil Arora gone, Jud Bergman comes clean with Wall Street about the need for cleaner, more API-friendly Yodlee data -- causing investors to pare Envestnet shares by 6%

The 19-year chief of the data aggregator left behind Yodlee accuracy and API access issues, but ex-Tamarac chief Stuart DePina can get it on 'the longer road to get to the ultimate destination' by making Yodlee accurate, accessible, useful and profitable

May 21, 2019 at 8:06 PM

Oleg Tishkevich: I watched and learned with what Jud [Bergman] and Bill [Crager] are doing...They know how to think big.

Oleg Tishkevich signs Envestnet to a contract with a company he started during an Envestnet non-compete -- and four years after selling Finance Logix to it for $32 million

Invent.us hits the ground running with several contracts reflecting friends in high places but critics ask whether he can fly so close to the sun without getting scorched

April 20, 2019 at 2:19 AM

Eric Clarke: Our competitors have done a series of acquisitions, [whereas] Dean Cook and I have taken the time to thoughtfully bring our companies together ... we're not distracted by doing a dozen acquisitions.

Orion's Eric Clarke tests new strategy to combat Envestnet's Jud Bergman in a Game of Thrones style clash for keys to RIA and IBD kingdoms

NorthStar and sister firm FTJ FundChoice are rebranded Orion, which might as well be Eric Clarke, observers agree, as strategic shift follows Envestnet's MoneyGuidePro and PortfolioCenter acquisitions.

April 16, 2019 at 8:50 PM

Raj Udeshi took on Bill Crager then Jud Bergman about their use of client data.

Raj Udeshi invokes 'Theranos' fraud in testy exchanges over data collection with Envestnet's Bill Crager and Jud Bergman at Tiburon CEO Summit

HiddenLevers co-founder offended some audience members with his accusations, but others say he raises a valid concern: Where is the line drawn for firms capturing and selling advisor and client data?

April 9, 2019 at 2:29 AM

Bob Curtis finally sold out to corporate interests after years of holding the line -- but financial planning's shift to a data game may have left little choice.

It took years to woo Bob Curtis to sell MoneyGuidePro but what Envestnet gets for its patience seem plenty worth it -- for both

The Fidelity-eMoney combination was a big success but a Yodlee-MGP pairing could turn the tide in the battle for the advisor desktop. Just don't call it 'competition'

March 16, 2019 at 2:04 AM

Jud Bergman: 'We need to own it rather than rent it. We need the code base.'

A perfect storm of factors -- including 'code' and 'annuities' -- made Jud Bergman pay Bob Curtis $500 million for MoneyGuidePro, plus $30 million to keep the MGP crew around a few more years

MoneyGuidePro's growth rate is declining, it's only '5% accretive' and Envestnet is already fully integrated, but unless the price got paid, the broader network was out in the cold

March 15, 2019 at 12:55 AM

Jud Bergman: “We expect the insurance exchange will be a solid contributor to our growth in subscription based revenue in 2019.

Envestnet shares spike, but fundamentals reassure Wall Street, rather than big future annuity profits, gaining 2,300 Schwab RIAs on the cheap and diminished Yodlee pain

Replicating SMA success on insurance side and tripling Tamarac customers is exciting but analysts may be more attuned to earnings growth and billions in 'conversions' to subscriptions

February 27, 2019 at 7:14 AM

Jud Bergman: The rate of account growth of advisors opening net new accounts has slowed over the last quarter. [We] don't know if it's going to last one, two, three quarters, but we are planning.

Envestnet CEO Jud Bergman's FolioDynamix deal suddenly looks prescient as SMA-to-UMA market shift dings revenues, third-party asset managers

In Envestnet's latest Q2 earnings call, Jud Bergman revealed the transition from SMAs to UMAs will hit Envestnet and third-party asset managers who sell their SMA wares through Envestnet's platform. But UMA efficiencies may drive down costs faster than revenues fall, making the FolioDynamix purchase look shrewder than ever.

August 16, 2018 at 5:12 PM

Jud Bergman: As we go from four or five big wins to 10 or 20 big wins, and we begin to monetize Yodlee, then people will say, 'OK, I see what you saw in it.'

Jud Bergman defines 'stupid' and post-'stupid' eras at his firm after Raymond James analyst dares to unearth the Yodlee question

The Envestnet CEO's rebuke, embracing the synonym for imbecilic and unintelligent, showed how raw feelings got in 2015 with the firm's purchase of Yodlee for about $600 million

May 29, 2018 at 11:03 PM

Lowell Putnam: We've all decided to band together to principles that arent even necessarily in our own best interests.

Envestnet quietly deals rivals in on Yodlee play to placate big banks and their latent threat of 'oblivion' in response to 'screen scraping'

The Chicago-based outsourcer orchestrates a Yodlee/Morningstar/Quovo show of force in response to vulnerability to 'throttling' by mega-custodians

May 17, 2018 at 7:24 PM

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