Chicago-based technology provider Envestnet has named Lori Hardwick its new group president of advisor services, a newly created position. Hardwick has been with Envestnet for 15 years. She most recently served as executive vice president of advisory services.
In the expanded role, Hardwick will be responsible for all relationship management and sales operations across the firm. Envestnet said the change will allow the firm to align more closely with the needs of advisors.
"Streamlining our sales and relationship management teams will help us continue to effectively meet all client needs during our ongoing expansion,” said Chairman and CEO Jud Bergman, in a statement.
As part of the change, about 100 of the company’s sales and relationship management professionals will come under the advisor services division to make it easier for these teams to share resources. In addition, Envestnet is expanding its regional sales teams that support advisors in the field from eight to 14.
Other executives have also been promoted under the new structure. Richard Dion, previously with Placemark, which Envestnet acquired in July, has been promoted to executive vice president and head of strategic partnerships. John Harris, previously with Oberon Financial Technology, which Envestnet acquired in 2004, is now managing director and global sales manager. John Phoenix, previously with Metamorphosis Money Management, will now serve as managing director of independent advisor network sales. Andrew Stavaridis, previously with FundQuest, has been promoted to head of enterprise consulting, and John Yackel, previously with Prudential’s wealth management solutions division, which Envestnet bought in April 2013, will now serve as managing director of institutional business development.