Envestnet, Inc. (NYSE: ENV), a provider of intelligent systems for wealth management and financial wellness, announced on Thursday it has acquired Harvest Savings & Wealth Technologies. According to Envestnet, Harvest Savings & Wealth Technologies provides automated goals-based saving tools and wealth solutions to banks, credit unions, trust companies, and other financial institutions. The company’s platform provides the following:
- Automated Micro-Savings: Goals-based savings technology solves a major problem facing traditional banks
- Digital Account Opening: Enables clients and end-investor customers to open accounts seamlessly across savings, wealth, and trust systems.
Drew Sievers, CEO of Harvest Savings & Wealth Technologies, spoke about the acquisition by stating:
“At Harvest, we believe that every wealth account starts as a savings account. Like Envestnet, since our founding we have proudly worked to help our clients unify their customers’ financial journeys. We are excited to join Envestnet as they lead the industry toward making a more meaningful impact on the holistic financial wellness of their clients’ customers.”
As previously reported, Envestnet’s mission is to empower advisors and financial service providers with innovative technology, solutions, and intelligence to make financial wellness a reality for everyone. Terms of the acquisition were not disclosed.