Wealthtech innovator Envestnet announced earlier this month plans for its tenth acquisition. The Chicago-based company will bolster its existing advisor offerings with the purchase of PIEtech, a deal expected to close mid-year 2019.

PIEtech is the parent company of MoneyGuide, a suite of goals-based financial planning applications for advisors. “Financial planning is a key component of our vision for enabling Financial Wellness,” said Jud Bergman, Chairman and CEO of Envestnet. “With MoneyGuide’s financial planning applications more deeply integrated into Envestnet’s wealth management solutions, enterprises, advisors and their clients can benefit from a frictionless wealth management technology solution across the application stack, driving higher productivity and better client outcomes.”

Envestnet will continue to build on the success of MoneyGuide’s offerings, including MoneyGuideOne, MoneyGuidePro and MoneyGuideElite. These solutions, which serve tens of thousands of financial advisors, are integrated with more than 150 wealth management providers.

Envestnet will leverage the acquisition to complement its Logix and Apprise features to provide advisors and their clients with access to financial planning capabilities. The deal will also enable Envestnet to offer additional domestic and international financial wellness solutions and will boost cross-selling opportunities.

Envestnet | Yodlee showcased its predictive financial wellness and intelligence solution at FinovateFall 2018. Late last year, the company entered into a strategic partnership with Blackrock in which Envestnet integrated BlackRock’s Digital Wealth technologies into its platform.

Envestnet was founded in 1999 and acquired Yodlee in 2015 for $660 million. Envestnet | Yodlee is a public company listed on NYSE under the ticker ENV. It has a market capitalization of $3 billion.