By Janet Levaux
Executives, advisors and others across the financial services industry have reacted in shock and sadness to the news that Envestnet founder, Chairman and CEO
Judson Bergman, 62, and his wife, Mary Miller, 57, died Oct. 3
in a car crash in San Francisco.
Many industry leaders say Bergman was a much-admired
tech pioneer, supportive mentor and more. “I knew Jud when
he first started [the RIA platform provider] Envestnet in 1999,
and I thought he was crazy,” Carson Group CEO Ron Carson
said on Twitter. “It turns out he was just a visionary well ahead
of his time. Our profession had a major loss — my thoughts go
out to his family, his partners, and his investors.”
“The industry lost a great one today,” tweeted Tom Bradley,
the former head of TD Ameritrade Institutional. “Early 2000s,
I told Jud Bergman, ‘We really like your platform but we need
assurances that you’ll make it.’ Jud responded with complete
confidence, ‘Oh we’ll make it Tom, take my word for it we’ll
make it.’ We signed, and they sure made it.”
Riskalyze Chair Lori Hardwick said in a statement: “Jud
Bergman was a visionary and trailblazer whose impact is seen
and felt in every facet of the wealth management community.
“He inspired one of the most influential and successful
Tributes pour in from leaders
of RIAs, technology firms and
other communities.
Industry Mourns
Passing of
Envestnet CEO;
Jud Bergman
Remembered
as ‘Visionary’
fintech platforms to date because he wasn’t afraid to imagine
what could be. My thoughts and prayers are with his children
and his family as we mourn with the Envestnet community.
He will be truly missed,” Hardwick added. Riskalyze held a
moment of silence for Bergman and his wife Friday during
its Fearless Investing Summit held in Boston in early October.
Popular blogger Michael Kitces tweeted: “I’m just stunned.
What a tragedy. … You will be missed, Jud … .”
Company’s Response
After Bergman’s death, Envestnet appointed Bill Crager, president of Envestnet and head of Envestnet Wealth Solutions, as
its interim CEO. Crager has served as Envestnet’s president
since 2002. The company’s board also appointed Ross Chapin,
its lead independent director, as interim chairman.
“We have all experienced a great loss at Envestnet,” according to Chapin. “While it is difficult to imagine anyone replacing Jud’s vision and presence, we have the utmost confidence
in the ability of his colleague, co-founder and dear friend, Bill
Crager, to carry on in Jud’s place.”
Envestnet CEO Jud Bergman died in
a car crash on Oct. 3, 2019.
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