Envestnet, Inc. (NYSE:ENV) Q3 2019 Earnings Conference Call - Final Transcript

Nov 07, 2019 • 05:00 pm ET


Envestnet, Inc. (NYSE:ENV) Q3 2019 Earnings Conference Call - Final Transcript


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Good day everyone and welcome to the Envestnet Third Quarter 2019 Earnings Conference Call. [Operator Instructions]. At this time I would like to turn the conference over to Mr. Chris Curtis Division CFO and Head of Investor Relations. Please go ahead sir.

Chris Curtis

Thank you and good afternoon. With me on today's call are Bill Crager Interim Chief Executive Officer; Pete D'Arrigo Chief Financial Officer; and Stuart DePina Chief Executive of our Data and Analytics business. Our third quarter 2019 earnings press release and associated Form 8-K can be found at envestnet.com under the Investor Relations section. During this conference call we will be discussing certain non-GAAP information including adjusted revenue adjusted net revenue adjusted EBITDA adjusted net income and adjusted net income per share. This information is not calculated in accordance with GAAP and may be calculated differently than similar non-GAAP information for other companies. Quantitative reconciliations of our non-GAAP financial information to the most directly comparable GAAP information appear in today's press release.

During the call we will also be discussing certain forward-looking information. These discussions are not guarantees of future performance and therefore you should not put undue reliance on them. These statements are subject to numerous risks and uncertainties that could cause them to differ materially from what we expect. Please refer to our most recent SEC filings as well as our earnings press release which are available on our website for more information on factors that could affect these matters. This call is being webcast live and will be available for replay for one month on our website. All remarks made during the call are current at the time of the call and will not be updated to reflect subsequent material developments.

We will take questions after our prepared remarks. And with that I will turn the call over to Bill.

Bill Crager

Thank you Christopher and hello everybody. As Jud wrapped up last quarter's conference call he closed saying "I look forward to our next conversation." Jud relished these updates. He looked forward to sharing our results and articulating our vision. They were important milestones for Envestnet. Sadly today marks a different milestone. Jud and I worked together for 20 years building a company that was sparked by vision while fueled by determination tenacity and commitment. From the first line of code the first adviser the first account to climbing the steps to ring the opening bell on The New York Stock Exchange beginning a new chapter for a founder maybe the crowning achievement of a journey but for Jud and for Envestnet the beginning of something much more meaningful creating a company driven by the purpose to empower the delivery of better advice to millions of families. This is important work. This is the work we have been doing. This is what we've been committing ourselves to for nearly 20 years. On October 3 we lost Jud Bergman and his wife Mary.

The incredible life force incredible energy incredible light they both offered our world somehow and