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

Nov 07, 2019 • 05:00 pm ET

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

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Executive
Bill Crager

devastatingly ended. It's very hard to understand what happened. The word shocked breathtaking stunned don't describe it. Jud was not only a business partner he was a best friend. He and Mary meant so much to so many people their reach and their humility their grace and their impact with people feeling close to them part of them they left people motivated and they left people hopeful. These have been hard dark days but somewhere in the darkness there is light. Jud and Mary taught us this. It's not enough to endure it is not enough to muddle through it is more important to be driven by purpose to have an impact to make things better and to use this very powerful world is more important to prevail. It's important that we keep their spirit their amazing capacity for compassion and sacrifice and determination all of these things motivated by purpose to achieve the vision that we have been working on.

And as we do the way families will achieve their financial goals they'll be more complete they'll be more secure and they'll will be more meaningful. We are incredibly committed to achieving this mission. We have not paused. Today we are all in. Our original vision was to empower financial advisers with the tools they needed to better serve their clients. 20 years later we've become the operating system for financial wellness helping connect consumers daily financial lives for the fulfillment of their long-term goals. It starts with data buying a cup of coffee paying a bill depositing a check. And that data feeds the financial plan. Planning so critical. The bridge gateway for individuals to achieve their goals. This leads towards the answers the solutions the strategy to achieve them with the planning software informing where to invest how to invest how to ensure how to manage credit all the things that impact the consumer's ability to reach their long-term goals. That vision making financial wellness a reality is very very clear.

We believe we have all the pieces in place today. We have work to do completing integrations. We have work to do making it easier for advisers to leverage all that Envestnet brings to bear but we are making progress. We are sensing the impact of that progress and we certainly understand how this work sustains growth for our company. Let me share how in the third quarter we've added clients expanded what we do added capabilities and solutions and integrated our offerings. Recently we expanded our partnership with Capital Group which will leverage our client onboarding financial planning proposal and performance APIs. They utilize something we call our open ENV network which enabled Capital Group's investors to better plan and manage their American fund accounts. This is an example of how we've become more agile and opened our platform for our clients to utilize our infrastructure to meet the unique needs of their clients. We recently welcomed our seventh and eighth major carrier to the