Berwyn-based Envestnet is considering the sale of data-aggregation firm Yodlee it acquired eight years ago, write Matthew Monks and Gillian Tan for the Philadelphia Business Journal. 

The software company recently tapped an adviser to help solicit interest in Yodlee from potential buyers. Envestnet paid around $590 million for the firm, including debt. 

Envestnet Chief Executive Officer Bill Crager said last month that Yodlee provides “a real hard look at the daily financial lives of millions and millions of people, and then you understand their financial plans — where they’re going in the future.” 

Having those two things in mind, “you can create holistic, very informed, very intelligent advice,” he added. 

Additionally, Yodlee serves the bank and fintech markets by helping hedge funds to better understand the retail behavior of consumers. 

Read more about Envestnet and Yodlee in the Financial Advisor. 

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