Envestnet Inc., a Chicago-based provider of technology and services for financial advisors, has hired Matthew McGinness as managing director of strategic consulting for enterprises, Envestnet announced.
McGinness will lead an initiative to improve Envestnet’s client practice management. The program's architect, Jay Hummel, joined Envestnet in late 2014 as senior vice president in the advisor services group.
McGinness most recently was CEO of First Allied Advisory Services, an RIA with more than $3 billion in assets under management.
McGinness will build a team of practice management consultants focused on helping wealth management firms and Hummel will concentrate on improving the overall business operations of RIAs, Envestnet says.