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Chicago, IL & Seattle, WA – October 27, 2010
Press Release

Envestnet to Acquire Tamarac

Combined Firms Offer Broadest Technology Platform, Investment Products and Services to RIAs
Envestnet, Inc. (NYSE: ENV), a leading provider of integrated wealth management solutions for financial advisors, announced today that it has entered into a definitive agreement to acquire Tamarac, Inc., a provider of sophisticated portfolio management technology that enables Registered Investment Advisors (RIAs) to efficiently deliver customized individual account management to their clients. The two firms, with the combination of their technology solutions, breadth of investment products and back-office operation services, are poised to transform the way RIAs deliver scalable, integrated solutions

"While Tamarac has developed industry-leading software for rebalancing, practice management, performance reporting and CRM integration, we value their market position within the independent RIA segment which is core to Envestnet's growth initiatives. We are eager to leverage Tamarac's highly sought-after solutions in combination with our integrated wealth management software and advanced portfolio solutions. We welcome the Tamarac organization and look forward to supporting their clients, people, products and their continued development of proven high-end solutions for RIAs," said Jud Bergman, Chairman, Founder and Chief Executive Officer of Envestnet. "As more advisors look to outsource to an integrated platform, we are uniquely positioned to meet this need--now and well into the future."

Tamarac was founded in 2000 by current President Clive Matthew Springer and is headquartered in Seattle, Washington. The company currently has relationships with approximately 500 RIA firms , collectively managing over $250 billion in assets.

Tamarac CEO Stuart DePina will join Envestnet as Group President of Envestnet • Tamarac. DePina and his leadership team will continue to focus on integrated solutions for the RIA marketplace. "We are excited to build on the momentum Tamarac has generated with independent RIA's seeking to streamline their operations through integrated technology and outsourced services. Now that we can leverage Envestnet's solutions, Tamarac will accelerate many aspects of our strategic initiatives while allowing us to focus on our client's needs," DePina said. "We believe the combination of Envestnet • Tamarac will transform the way financial advisors support investors with Advisor Xi, one of the most comprehensive suites of technology and investment solutions available in the industry."

Envestnet has agreed to acquire Tamarac for $54 million in cash, subject to certain post-closing adjustments. The acquisition is subject to approval by the holders of a majority of Tamarac's voting securities. Holders of Tamarac's voting securities, including members of Tamarac's management, have agreed to vote in favor of approval of the transaction. The transaction is also subject to customary closing conditions, including customer consents, and is expected to be completed by the first half of 2012.

Tamarac did not retain a financial advisor. Sandler O'Neill + Partners, L.P. served as financial advisor to Envestnet. McNaul Ebel Nawrot & Helgren acted as legal counsel to Tamarac and Mayer Brown LLP acted as counsel to Envestnet.

About Envestnet (NYSE: ENV)

Envestnet, Inc. is a leading provider of integrated wealth management software and services to financial advisors. Envestnet's Advisor Suite® software empowers advisors to better manage client outcomes and strengthen their practice. Envestnet offers advanced portfolio solutions through its Portfolio Management Consultants group ("PMC"). Envestnet Reporting Solutions gives advisors an in-depth view of clients' aggregated investments, empowering holistic, personalized advice. Envestnet is headquartered in Chicago with offices in Boston, Charlotte, Denver, New York, Sunnyvale, and Trivandrum, India. The firm has over $127 billion in total assets served and more than 909,000 investor accounts.*

For more information on Envestnet, Inc. please visit www.envestnet.com.

* Data includes assets under management or administration and licensing agreements as of 9/30/2011.
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About Envestnet

Envestnet, Inc. (NYSE: ENV) is the leading provider of intelligent systems for wealth management and financial wellness. Envestnet’s unified technology enhances advisor productivity and strengthens the wealth management process. Envestnet empowers enterprises and advisors to more fully understand their clients and deliver better outcomes.

Envestnet enables financial advisors to better manage client outcomes and strengthen their practices. Institutional-quality research and advanced portfolio solutions are provided through Envestnet | PMC, our Portfolio Management Consultants group. Envestnet | Yodlee is a leading data aggregation and data analytics platform powering dynamic, cloud-based innovation for digital financial services. Envestnet | Tamarac provides leading rebalancing, reporting, and practice management software for advisors. Envestnet | Retirement Solutions provides retirement advisors with an integrated platform that combines leading practice management technology, research and due diligence, data aggregation, compliance tools, fiduciary solutions and intelligent managed account solutions.

More than 59,000 advisors and 2,900 companies including: 16 of the 20 largest U.S. banks, 38 of the 50 largest wealth management and brokerage firms, over 500 of the largest Registered Investment Advisors, and hundreds of Internet services companies, leverage Envestnet technology and services. Envestnet solutions enhance knowledge of the client, accelerate client on-boarding, improve client digital experiences, and help drive better outcomes for enterprises, advisors, and their clients.

For more information about Envestnet | Tamarac, please visit www.tamaracinc.com and follow @TamaracInc.
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