(Bloomberg) -- Envestnet, a maker of cloud- based software used by financial advisors, has increased its value fivefold since going public. Buyers may take notice.
The $1.46 billion company serves advisers at Fidelity Investments, Fifth Third Bancorp and other banks and broker- dealers that use its technology to keep track of more than $500 billion of investments. Its expanding clientele could appeal to a competitor such as SEI Investments Co. or financial data vendors such as FactSet Research Systems Inc. or Fiserv Inc., said Barrington Research Associates Inc.
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