Good morning, everyone. Welcome to the Envestnet, Inc. 2023 Annual Shareholders Meeting. Should you wish to submit a question during the meeting, please click on the messaging icon at the top of the left of your screen. Type your question into the text box, then click the send icon at the right of that text box. Please note that in the interest of all shareholders, we will only address those questions that are pertinent to the business of the meeting. At this time, I would like to introduce Mr. James Fox, Chair of the Envestnet Board, to commence the meeting. Thank you, Doug, and good morning to everyone. It is my pleasure, on behalf of the board of directors and officers of Envestnet, to extend to you a welcome and thank you for attending our annual shareholders meeting. We have already supplied each shareholder with a copy of our proxy statement and annual report. We have also made the proxy materials available through a filing with the SEC. The business of this meeting is: to elect 3 Class 2 directors to hold office until the 2026 annual shareholders meeting. 2, to approve on an advisory basis the 2022 executive compensation. 3, to approve on an advisory basis the frequency of future shareholder advisory votes on executive compensation. Last, 4, to ratify the appointment of KPMG LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2023. I would now like to introduce our Chief Executive Officer and Director, William Crager, and our Chief Legal Officer, General Counsel, and Corporate Secretary, Shelly O'Brien. Good morning. Thank you, Jim. I extend my own welcome to our annual shareholders meeting. Shelly, has a notice of this meeting been sent to all shareholders entitled to vote at this meeting? Yes, I have a signed affidavit from our transfer agent, American Stock Transfer & Trust Company, stating that the notice has been provided to each shareholder of record as required under the bylaws. In addition, resolutions were adopted by the board of directors of Envestnet, providing for the meeting to be held at this time and place, and directing that notice be given as provided in the bylaws. April 17th, 2023, was fixed as the record date for determining persons entitled to notice of and to vote at this meeting. Finally, the alphabetical list of the shareholders of record as of April 17th, 2023, who are entitled to vote, showing respective name and the number of shares held by each, is available at this meeting for inspection by shareholders. Shelley, thank you. Please file a copy of the notice, together with the excerpts from the board meeting, setting the time and place of this meeting, and the affidavit as to the mailing of the notice for this meeting, with the minutes of this meeting. Mr. Barry Rosenthal of American Stock Transfer & Trust Company has been appointed as the Inspector of Election. Barry, will you please present your report of attendance at this meeting so that we can determine whether a quorum is present? Mr. Crager, there were 54,370,725 shares entitled to vote as of April 17th, 2023, the record date. There are 50,313,921 shares present by proxy. Thank you, Mr. Rosenthal. On the basis of the report of the Secretary and the Inspector of Election, I find that proper notice has been given and that a quorum is present. Accordingly, this meeting has been properly convened. The proxies solicited by the board of directors can be tallied at one time, even though they contain four matters for consideration. Similarly, the ballots cast today can be handled the same way. Accordingly, Shelley will discuss each matter to be acted upon at this meeting. At the conclusion of discussion of all these items, we will take the vote. Shelley, were there any shareholder nominations or shareholder proposals for the business for this meeting properly filed with you as Secretary? There were none. Since no shareholder nominations or shareholder proposals were properly filed in advance of this meeting, our business is limited to the four matters on the agenda. The first proposal we will consider is the election of three directors. The board has nominated Luis Aguilar, Gayle Crowell, and James Fox to each serve a three-year term as directors, which terms will expire at the 2026 annual shareholders meeting, and until their successor is duly elected and qualified, or until their earlier resignation, removal, incapacity, or death. Information concerning their principal occupations, their service with Envestnet, and other matters which may be of interest, are contained in the proxy statement. No nominations may be made at this meeting; therefore, I declare nominations to be closed. The second proposal relates to an advisory, non-binding vote by shareholders of the compensation of our named executive officers, as outlined on pages 30 to 58 of the proxy statement. Shareholders are asked to vote for the following resolution: Resolved, that the shareholders approve the compensation of the named executive officers as disclosed pursuant to the Compensation Disclosure Rules of the Securities and Exchange Commission, including the compensation discussion and analysis, the compensation tables, and related narrative discussion.... The third proposal relates to an advisory non-binding vote by shareholders of the frequency of future shareholder advisory votes on executive compensation. The final item of business we will consider is the ratification of the appointment of KPMG LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2023. David Eberly, Alexy Oberoi, and Ashley Buss, representing KPMG, are present and available to answer appropriate questions. Thank you, Shelly. This concludes the introduction of the proposals to be presented at this meeting. Shelly, have we received any questions pertinent to the business of the meeting? We have not. There being no other questions, it being 9:07 A.M. Eastern Time. The polls are now open for voting. Shelly, can you please describe the voting process? Yes. If you have previously voted by proxy, it is not necessary to vote during the meeting. Only shareholders who have not voted or those who wish to change their vote on their proxy should vote during the meeting. Any shareholder who desires to vote during the meeting, please do so now by clicking the proxy voting site link on the left side of your screen. The voting will be closing shortly. Are there any further electronic votes or proxies? There are not. Given the fact that the majority of shareholders previously voted by proxy, and all attending shareholders have now had adequate time to vote, it is now 9:08 A.M. Eastern Time in the morning, the voting is now closed. While the votes and proxies are being tallied, I'd like to introduce the members of our Board of Directors, which includes Jim Fox as our Chairman, Luis Aguilar, Gayle Crowell, Wendy Lane, Valerie Mosley, Gregory Smith, Lauren Taylor Wolfe, and Barbara Turner. I'd also like to introduce other members of management, including our Chief Financial Officer, Peter H. D'Arrigo, and our Chief Human Resources Officer, Sharon Rosenthal. While we're waiting for the voting to be completed, I want to offer just a few updates on our business. At Envestnet, we're focused on our strategy to provide a more powerful ecosystem that enables holistic advice and more services and solutions to our clients. We work every day to modernize the platform, to deliver for our clients, and better integrate their workflows, increasing our operating leverage through an automation of processes and monetize higher margin solutions. 2022 was a year that was marked by economic dislocation. There was high inflation, double-digit losses in both equities and fixed income, and a dramatic shift away from an era of low capital costs. A 60/40 portfolio, for instance, was down over 17% last year. Its performance, the worst it's been since 1937, with the Nasdaq also down by 30%. Despite the headwinds in 2022, Envestnet grew total platform accounts to more than 18 million, an increase of 5%. We increased our market share by cross-selling opportunities to enable our advisors to do more for their clients. Our AUM and A accounts per advisor grew by 9% last year. We believe this will lead to accelerated revenue growth as markets normalize. We proved the strength of our business. Envestnet posted $132 billion of total platform net flows, including $57 billion from AUM&A, which is a 7% organic growth rate. We reestablished our margin expansion and reaffirmed our commitment to 25% adjusted EBITDA margins by 2025. Our total adjusted revenue rose by 4.5% from 2021 to $1.24 billion, and adjusted EBITDA for the year was at $220 million. Envestnet's clients recognize the value we provide to them. It is through our deep understanding of the marketplace, where we can serve these clients, as well as deliver significantly for our shareholders, as well as our employees. At Envestnet, we're building on our progress. Every day, we are innovating and enhancing the advice that drives the success of our clients and millions and millions of end consumers. On behalf of everyone here at Envestnet, I want to thank you and thank our shareholders for your support. Shelly, I see the vote tally is complete. Will you now present the results on the vote? Yes. Over 45,043,009 shares, or more than 94% of Envestnet stock represented at this meeting, has been voted for the election of Luis Aguilar, Gayle Crowell, and James Fox as directors of the company. Over 45,280,395 shares, or more than 95% of Envestnet's stock represented at this meeting, have been voted for the approval of the 2022 compensation of our named executive officers. Over 46,765,157 shares, or more than 98% of Envestnet stock represented at this meeting, have been voted for approval of the advisory vote on executive compensation for every year. Over 49,961,365 shares, or more than 99% of Envestnet stock represented at this meeting, have been voted for the ratification of the appointment of KPMG LLP as the company's independent registered public accounting firm for the fiscal year ending December 31, 2023. Each of the items voted upon today, as listed in the proxy statement, have been approved by the company's shareholders and will be recorded as stated in the minutes of this meeting. Shelly, thank you very much. I would like to thank all of you for attending today's meeting and for your interest in, and your support of our company. I will now turn it back over to Jim Fox. Thank you everyone for both your attendance and your continuing support. As we have no further business, this meeting is now adjourned. Thank you.
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