Envestnet, the provider of unified wealth management technology and products to financial advisors and institutions today announced that they are purchasing PIEtech, Inc., the developer of MoneyGuidePro, MoneyGuideOne, and MoneyGuideElite for $500 million in cash and equity. The purchase vaults Envestnet from a fringe player in professional financial planning software to the leading provider of financial planning software to financial planning professionals. It also positions Envestnet well to provide integrated financial wellness solutions to other financial intermediaries, as well as directly to consumers.
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