Chris Todd has been appointed as Envestnet’s new CEO. Credit: T. Schneider/Shutterstock.

Envestnet, a US-based wealth technology solutions provider, has named Chris Todd as its new CEO.

On 21 January 2025, Todd took over from Jim Fox, who has been serving as the interim CEO.

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This move comes at a “crucial time” for Envestnet as it focuses on ‘innovation’ and reinforces its position in the financial technology space.

With a portfolio of more than $6.5tn in platform assets, over 20 million accounts, and a network exceeding 111,000 financial advisors, Envestnet serves wealth managers, RIAs, and broker-dealers.

Todd’s previous role was as CEO of Ultimate Kronos Group (UKG).

Under Todd’s leadership, the company seeks to enhance its influence within the wealth management ecosystem, improve the advisor experience, and roll out advanced solutions that address the changing demands of financial advisors.

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Todd said: “I am incredibly impressed by the Envestnet team. The company has established itself as a trusted partner to financial advisors, empowering them with the tools and insights to deliver superior outcomes for their clients.

“I look forward to collaborating with this talented team and our partners at Bain Capital and Reverence to advance innovation, elevate the client experience and shape a successful, forward-thinking future together.”

Envestnet executive vice president Tom Sipp said: “Envestnet is entering an extraordinary new chapter as we welcome Chris as the new CEO.

“Chris’ reputation as a strategic leader and culture builder is exactly what we need at this stage of our journey.”

Envestnet serves several firms, including 17 of the 20 largest US banks, 48 of the top 50 wealth management firms, and over 500 major RIAs.

In November 2024, Bain Capital acquired Envestnet for $4.5bn, returning the company to private ownership.