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Business Valuation, Big Data Firm Enters Deal With Envestnet
Tom Burroughes
16 September 2015
BizEquity, the online provider of business valuation knowledge and "big data," has entered an agreement with US-headquartered wealth management firm Envestnet through which the latter’s clients obtain access to the former’s Advisor Office service. Under the agreement, Envestnet’s network of more than 42,000 financial advisors receive a one-month free trial of BizEquity's Advisor Office service. The free offer runs from now to September 30, 2015, and will run until December 31, 2015. The service uses sophisticated algorithms and big data information and aggregation to help financial advisors better gauge the risk profiles of their clients. “Envestnet was one of the first truly disruptive technology platforms created to serve the financial advisory community, and it has garnered tremendous market share,” said Michael Carter, founder and chief executive of BizEquity. BizEquity has signed 61 agreements with wealth management firms, financial advisors, and international banks, including London-based Metro Bank's US business, New York-based Dynasty Financial Partners, and one of the UK's largest wealth management firms. BizEquity is headquartered in Wayne, PA. Last year, the firm secured $5.1 million from boutique UK private equity firm Frost Brooks to accelerate its global expansion strategy and planned roll-out across Europe and the Asia-Pacific region.