CHICAGO, July 15, 2014 /PRNewswire/ -- Envestnet | Retirement Solutions (ERS), a majority owned subsidiary of Envestnet, Inc. (NYSE: ENV), and a leading provider of unified retirement technology and services to retirement advisors announced today that it has completed the acquisition of Klein Decisions Inc., a firm that provides participant advice and guidance solutions to retirement plans.

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Klein's patented behavioral and financial analysis-based participant advice solutions strengthen ERS's - product and service offerings for retirement advisors.

"The addition of Klein's technology to our retirement platform consisting of fund research, compliance assistance and practice management tools, and reporting and data aggregation further enhances our ability to offer intelligent managed account solutions for plan participants," said Babu Sivadasan, Group President of Envestnet | Retirement Solutions. "This acquisition significantly advances our ability to work with key record-keeping partners in delivering a truly integrated participant experience to advisors and their clients. We are thrilled to have the Klein team join our mission to help enhance the outcomes for participants."

"Klein is very excited to join the Envestnet Retirement Solutions team and I believe that the additional resources of ERS will allow the delivery of participant services far beyond what we could have achieved alone," added Robert L. Padgette Founder of Klein Decisions and now Senior Vice President of Envestnet | Retirement Solutions. "Participants in retirement plans are in desperate need of total lifetime strategies driven by both behavioral and financial analysis. K(4) Plan Goals and K(4) Retirement Income create these complete solutions to help participants on their way to a successful lifetime plan."

ABOUT ENVESTNET | RETIREMENT SOLUTIONS

Envestnet, Inc. (NYSE: ENV) is a leading provider of unified wealth management technology and services to investment advisors. Our open-architecture platforms unify and fortify the wealth management process, delivering unparalleled flexibility, accuracy, performance and value. Envestnet solutions enable the transformation of wealth management into a transparent, independent, objective and fully-aligned standard of care, and empower advisors to deliver better outcomes.

Envestnet | Retirement Solutions (ERS), a subsidiary of Envestnet, Inc. provides retirement advisors with an integrated platform that combines one of the industry's leading practice management technology, research and due diligence, data aggregation, compliance tools and intelligent managed account solutions. ERS leverages Envestnet's advanced capabilities and resources, along with its experience in investment research, portfolio construction and investment management, to meet the specialized needs of each retirement plan stakeholder, from plan participants to sponsors, advisors to home offices and record keepers to DCIOs.

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

CONTACT:
Laura Simpson
Jennifer Connelly Public Relations
(973) 850-7319
lsimpson@jcprinc.com

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SOURCE Envestnet | Retirement Solutions