Mike Henkel, the former president of Ibbotson Associates, has joined Envestnet as managing director of the firm’s new retirement services group.

Henkel has more than 20 years of industry experience, including several years focusing on the 401(k) marketplace.

“Mike is a pioneer in this industry,” said Bill Crager, president of Envestnet. “His knowledge of independent 401(k) advice services will be an incredible asset for Envestnet and our clients as we deliver a series of retirement services this year and in the future.”

During his time at Ibbotson, the firm’s revenue grew from $3.6 million in 1993 to $40 million in 2006. Prior to joining Ibbotson, Henkel worked for Knight Ridder Financial Publishing, Lotus Development Corp. and Data Resources Inc.

“Envestnet is in line for tremendous growth,” Henkel said. “I’m excited to be joining the firm and am eager to help expand the retirement services offering to more financial advisors.”

Envestnet is a leading provider of wealth advisory solutions to more than 20,000 financial advisors. It has more than $45 billion of assets under management.

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