March 4, 2015

Envestnet acquires advisor services firm Upside

One of the most practical ways the Internet has changed the way individuals do business is through personal finance platforms. From managing wealth to checking a bank statement, users have a multitude of tools at their disposal to make transactions and view where they stand financially. 

This week, it was announced that Envestnet, a wealth management technology firm, has acquired Upside, a provider of services for registered investment advisors. With their combined skill set and knowledge about managing wealth, the companies can make a bigger splash in the investment advisor market. The rise of the "robo-advisor" has given new resources for individuals to make decisions concerning their savings and both firms have emerged as leaders. 

"The visions are so closely aligned," said Juney Hamm, co-founder and president of Upside, which also provides a suite of popular advisor services. "We've been focused on building the next generation, we both support the same group of people and we both want advisers to win."

Bill Crager, the president of Envestnet, said that the companies offer two very different sets of know-how. On the front end, the Envestnet portal makes an easy interface for users, while Upside's expertise is infrastructure and behind-the-scenes support for advisors. This bilateral approach could help the companies tackle the market more effectively than either was able to do alone.

One of the most important aspects of tech mergers and acquisitions is implementing an acquisition strategy that plays to the strengths of both companies. For a fruitful partnership, embracing multiple approaches to reach the same shared goals can be essential. Contact us today to learn more about mergers and acquisitions advisors, and how they can help owners sell technology companies.