Former Envestnet CEO Launches Field, InspereX Names CCO

Envestnet’s co-founder and former CEO Bill Crager this week launched Field, a wealth management technology company for the advisory industry.

Crager notes how financial advisors have “been forced to become the integration layer” for the advisory industry, as workflows for portfolio management, financial planning, CRM, compliance, and billing have modernized in the past two decades.  

“I spent my career watching this problem grow,” Crager said. “The tools got better every year. But the ground beneath them still hasn’t been properly built. Field exists to be that ground.”

Field uses artificial intelligence (AI) technology to integrate data from the systems a firm uses, translates it into a shared language, turns it into firm-level intelligence, and puts both to work where advisors and their teams operate.

“The advisor has been the one holding it all together, manually, every day,” Crager said. “Field puts the picture in one place. The firm sees itself whole. That changes what the advisor can do, what the firm is worth, and how it grows.”

The platform is further enhanced with two recent acquisitions. One is BridgeFT, a wealthtech API platform serving developers and institutions with multi-custodian data connectivity, normalization, and delivery. The other, Precept, uses integration technology to connect data across custodians, CRMs, planning tools, and alternative investment platforms.

Both acquisitions were made through iAltA, of which Crager is a founding partner of. iAltA was founded by Scott Ganeles and Laurence Tosi — co-founders of Ipreo, the capital markets data infrastructure firm — together with Bill Sherman. Tosi also founded iLEVEL, the private capital reporting platform.