T3 president Joel Bruckenstein weighed in on Envestnet’s acquisition of Vestmark in ThinkAdvisor, which has major ramifications for financial advisors and competitors to the turnkey asset manager. Joel notes that he sees the deal as a continuation of Envestnet’s expansion into the broker-dealer space: “That’s where Vestmark was strong.” Joel added, “They’re slightly different cultures, so if they can blend the cultures … it may really add to what Envestnet is doing.”
Read the article: Why the Envestnet-Vestmark Deal Matters for Advisors
