Envestnet, Inc. announced that Bill Crager has made the decision to transition from the role of CEO effective March 31, 2024. Beginning April 2024, Crager will continue with Envestnet as a Senior Advisor, focusing on client and partner relationships, leaning in on key strategic initiatives, and continuing to be a visionary voice for the financial services industry. Tom Sipp, Executive Vice President, will continue to lead Envestnet's business lines partnering closely with Crager and Board Chair James L. Fox, who will serve as interim CEO as of April 1, 2024, until a successor is in place.

Under Crager's leadership, Envestnet has grown into a leading managed solutions service provider with $5.4 trillion in client assets and over 107,000 advisors served. Crager was recognized on Investment News' 2023 Hot List and in 2015, the Money Management Institute named him that year's Industry Pioneer. He was voted one of the IA25 by readers of Think Advisor and Investment Advisor magazines in 2020.

Crager and the late Jud Bergman were among the first in the managed solutions industry to streamline independent advisors' practices by offering a broad range of fee-based products side-by-side within an easily accessible, open-architecture portal.