Global Business Valuation Leader BizEquity Collaborates with Envestnet

This collaboration brings BizEquity's Advisor Office service to the 42,000+ advisor clients that Envestnet serves, enabling them to enhance their digital advice offering and boost prospecting

News provided by

Envestnet, Inc.

Sep 15, 2015, 08:38 ET

WAYNE, Pa. and CHICAGO, Sept. 15, 2015 /PRNewswire/ -- BizEquity, the world's leading online provider of business valuation knowledge and big data, today announces that it has reached an agreement to provide a unique benefit to clients of Envestnet, Inc. (NYSE: ENV), a leading provider of unified wealth management technology and services to investment advisors.

The opportunity will provide the more than 42,000 financial advisors that Envestnet empowers with a one-month free trial of BizEquity's Advisor Office service, enabling them to enhance their service offerings and boost their prospecting capabilities. This special one-time offer will be available between now and September 30, 2015 and will run until December 31, 2015. BizEquity will be hosting a webinar on September 30^th from 11:00 – 11:45 eastern time, to demo their technology and talk about the offer. For more information on the webinar please contact: Mary Jean Swiggard at [email protected].

BizEquity's Advisor Office service harnesses sophisticated algorithms and Big Data information and aggregation to help financial advisors better gauge the risk profiles of their clients—assessing, for example, whether they are underinsured or underfinanced—by providing them with the most up-to-date company valuation data on their businesses. The service also brings advisors new opportunities to begin conversations with potential clients, enabling them to prospect smarter with the help of current company valuations.

By offering BizEquity's patented Advisor Office service, Envestnet, which provides integrated portfolio, practice management, and reporting solutions to financial advisors and institutions, will provide its clients with an enhanced set of tools to compete in the increasingly digital advisory market.

Michael M. Carter, Founder and CEO of BizEquity, commented:

"Envestnet was one of the first truly disruptive technology platforms created to serve the financial advisory community, and it has garnered tremendous market share. BizEquity is looking forward to democratizing business valuation knowledge by putting it in the hands of advisors to value their clients' businesses and help enable them to more effectively engage with prospects."

Bill Crager, President of Envestnet, Inc., commented:

"At Envestnet, we always strive to find additional innovative technology solutions to support the financial advisor community. Providing advisors with access to BizEquity's truly innovative Advisor Office service is part of our ongoing effort to empower them to deliver better outcomes to clients, generate the new business required to grow their practices, and bolster their digital advisory capabilities."

Over the past 36 months, the traditional market for existing offline financial advisory services has been challenged by a new breed of robo-advisors providing largely online, automated portfolio management and investment advice. As a result, many financial advisors are increasingly looking for cloud-based, Big-Data-powered tools and services, such as business valuation and company performance analysis, to help remain competitive and offer their clients a full spectrum of holistic wealth management services.

BizEquity has already signed 61 agreements with leading wealth management firms, financial advisors, and international banks, including London-based Metro Bank's U.S. business, New York-based Dynasty Financial Partners, and one of the U.K.'s largest wealth management firms.

BizEquity, headquartered in Wayne, Pennsylvania, was founded by Michael M. Carter, a former venture capitalist, in 2010. Last year, BizEquity secured $5.1 million from boutique U.K. private equity firm Frost Brooks to accelerate its global expansion strategy and planned roll-out across Europe and the Asia-Pacific region.

In February 2015, BizEquity launched in the U.K. at one of the world's leading financial technology conferences, Finovate Europe, and has since established a U.K. headquarters at the prestigious Level 39 accelerator in London's Canary Wharf. Most recently, BizEquity has established an office in Singapore, in the premiere start-up hub Block 71, and has already signed up a number of fast-growing financial advisors which are experiencing great success using the platform. In the U.S., the firm recently valued the top 100 U.S. private wealth management firms.

Globally, the business valuation industry is also set for accelerated growth, and the market opportunity is significant with some 200 million businesses worldwide and over 98% of them failing to value themselves annually, largely due to time and cost constraints. BizEquity is an excellent example of the fast-paced expansion of the global FinTech sector. International investments in FinTech ventures tripled from $4.05 billion in 2013 to $12.2 billion in 2014, and this shows no sign of slowing in 2015.

For media inquiries about BizEquity, please contact:
Richard Morgan Evans/Elizabeth Vincent/Micky Izelaar/Morgan Rossiter
T: (+44) 0203 195 3240
[email protected]

For media inquiries about Envestnet, please contact:
Dana Taormina
JCPR
T: (973) 850-7305
[email protected]

About BizEquity

Founded in 2010, BizEquity is the world's first and leading online provider of business valuation knowledge and big data and has valued over 29.4 million businesses to date. Headquartered in Wayne, Pennsylvania, but with a global market, BizEquity has offices in Singapore and Canary Wharf in London. BizEquity has over 61 financial institutions distributing its patented service offering. BizEquity's vision is to value every private business in the world and in the process democratize business valuation and performance knowledge for all businesses and financial institutions. For more information, please visit: www.bizequity.com

About Envestnet

Envestnet, Inc. (NYSE: ENV) is a leading provider of unified wealth management technology and services 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 outcomes.

Envestnet's Advisor Suite® software empowers financial advisors to better manage client outcomes and strengthen their practices. 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, please visit: www.envestnet.com and follow @ENVintel (https://twitter.com/envintel).

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SOURCE Envestnet, Inc.