Envestnet to Expand Footprint Further in 'Silicon Raleigh' With Move into 'Tower Two at Bloc[83]'

Envestnet to Expand Footprint Further in 'Silicon Raleigh' With Move into 'Tower Two at Bloc[83]' Modern High-Rise Office Building in Most Coveted Neighborhood Will Enable Envestnet's North Carolina-Based Teams to More Than Double Their Headcount

CHICAGO, March 5, 2020 -- Envestnet, Inc. (NYSE: ENV) today announced it will relocate its North Carolina-based offices later this year to three floors of a futuristic, high-rise building currently under construction in the heart of downtown Raleigh. The move will give the Envestnet teams based there enough space to more than double their headcount over the next year.

The modern and stylish office building, called Tower Two at Bloc[83], is being built in Raleigh's up-and-coming Glenwood South district and will offer an on-site hotel, parking and many more amenities designed for mixing work and play. Heritage Properties, Inc, the developers of the Tower Two building site also incorporated lounge areas for meetings and get-togethers, more than 50,000 square feet of retail and dining options, and an outside urban courtyard that will feature a band stage, projection screens for community gatherings, and designated fitness zone for yoga and group workouts.

"We started expanding the Envestnet | Yodlee office in Raleigh late last year and have since been able to attract a lot of talent from the Research Triangle and burgeoning tech scene," said Stuart DePina, Chief Executive, Envestnet Data & Analytics. "Most of our product and engineering efforts, going forward, will be done out of the Raleigh office. Raleigh is also a great design center—so a lot of our future design work is going to be done from that office as well."

Year over year, population growth in Raleigh and the surrounding Research Triangle Region continues to consistently and significantly outpace the nation. "The Triangle," a thriving hub for life sciences, technology and innovation which includes Durham and Chapel Hill in addition to Raleigh, came in at No. 10 on U.S. News & World Report's latest "Best Places to Live" list. The report ranked 100 U.S. cities according to five metrics: job market, value (a blend of annual household income and cost of living), quality of life, desirability, and net migration.

Raleigh also ranked among the top 10 U.S. cities in the following studies:

  • Best City to Live In in 2020 (No. 2/WalletHub)
  • Best City for Young Professionals in 2019 (No. 6/SmartAsset)
  • Best Place for Business and Careers in 2017 (No. 2/Forbes)
  • America's Next Boom Towns in 2016 (No. 5/Forbes)
  • Best Cities for Young Families in 2016 (No. 3/Value Penguin)

"Given its rapid population growth, quality-of-life appeal and bottomless talent pool of engineers and designers, we chose 'Silicon Raleigh' as the perfect fit when we opened our first Envestnet | Tamarac office on the East Coast 10 years ago to better serve our clients there," said Andina Anderson, Executive Managing Director of Envestnet | Tamarac. "As we've made key acquisitions and grown our client base, we expanded our operations in Raleigh to function as a replica of our Seattle headquarters office. During this time of swift expansion, we've been able to attract key talent not just from within Raleigh – but we've also been able to draw bright minds from other tech hotspots like San Francisco, New York and Austin to our Raleigh office as well. Moving into Tower Two later this year will enable us to continue at this accelerated pace of growth."

The new location will be in Raleigh's most popular neighborhood, offering walkable access to housing, shops, restaurants, and cafes, as well as transportation options via the rapid bus system, commuter train, and future light-rail service. It is less than one mile from North Carolina State University's main campus and Centennial Campus, and within walking distance to the state capitol.

More information about the Tower Two at Bloc[83] project can be found here: https://bloc83raleigh.com/

About Envestnet

Envestnet, Inc. (NYSE: ENV) is a leading provider of intelligent systems for wealth management and financial wellness. Envestnet's unified technology empowers enterprises and advisors to more fully understand their clients and deliver actionable intelligence that drives better outcomes and improves lives.

Envestnet Wealth Solutions enables enterprises and advisors to better manage client outcomes and strengthen their practices through its leading Wealth Management Operating System and advanced portfolio solutions. Envestnet | Tamarac provides portfolio management, reporting, trading, rebalancing and client portal solutions for registered investment advisers ("RIAs"). Envestnet | MoneyGuide provides goals-based financial planning applications. Envestnet Data & Analytics enables innovation and insights through its Envestnet | Yodlee data aggregation platform.

More than 100,000 advisors and more than 4,700 companies including: 16 of the 20 largest U.S. banks, 43 of the 50 largest wealth management and brokerage firms, over 500 of the largest RIAs 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 on Envestnet, please visit www.envestnet.com and follow us on Twitter at @ENVintel.

About Heritage Properties, Inc.

Heritage Properties has developed or acquired over $285,000,000 worth of real estate in the Triangle since 2016.  Heritage Properties creates extraordinary environments for corporations and their employees, retailers, and the community. Since its inception, Heritage Properties has developed approximately 7,000,000 square feet of commercial real estate along the eastern United States. As a developer, owner, and property manager of all their developments, Heritage Properties provides not only the best environment for tenants, but also superior customer service.


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