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Woa, some MEGA advisor #FinTech news just out... @ENVintel is acquiring @MoneyGuidePro. For half a BILLION dollars of cash + stock...

The waves from this will be rippling across the entire industry...
From the strategic perspective, the @MoneyGuidePro deal makes a ton of sense for @ENVIntel. MGP has a massive client base, including a huge overlap with Envestnet's own broker-dealer enterprises. It lets Envestnet expand market share and wallet share where it already is.
It's somewhat awkward that Envestnet acquired FinanceLogix in 2015 and is now ALSO acquiring MoneyGuidePro. Based on Jud Bergman's comments at the recent #T32019 advisor #FinTech conference, he sees FinanceLogix as 'basic' planning and MGP filling in a middle tier.
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