Judson Bergman Biography – Judson Bergman Wiki
Judson Bergman was the CEO and founder of Envestnet, Inc. Envestnet, Inc. is a leading provider of intelligent systems for wealth management and financial wellness. Envestnet’s unified technology empowers enterprises and advisors to more fully understand their clients and deliver actionable intelligence that drives better outcomes and improves lives.
Bergman founded Envestnet after leaving his post as the head of mutual funds at Nuveen Investments. He had pitched the business idea that became Envestnet to Nuveen, but the fixed-income fund behemoth wasn’t interested in backing the venture, so he set out on his own to create software tools that would help financial advisers break away from big institutions and set up their own shops.
“I was a reluctant entrepreneur,” Bergman said in an interview with Crain’s for a 2014 story about his company’s growth. He explained that he was in his early 40s, after having built a career at Nuveen over 17 years, and was supporting a wife and four kids. “There was never an ‘aha’ moment, just a growing conviction that this was a good thing to do.”
His idea proved prescient, and Envestnet grew into a major Chicago fintech firm, acquiring other companies along the way as it built extensive performance-tracking, portfolio-rebalancing, administrative and other software services for adviser clients and large institutions such as Fidelity.
Jud was recognized as an “Icon and Innovator” in financial technology by InvestmentNews, and was awarded Entrepreneur of the Year by Ernst and Young. He also served on the Board of Trustees for the Field Museum.
Judson Bergman Car Accident – Judson Bergman Death
Judson Bergman and his wife died in an accident in San Francisco. According to the Associated Press and a California Highway Patrol spokesman, the car crash happened when a car driving the wrong direction on U.S. Highway 101 struck a taxi carrying Bergman and his wife, Mary Miller-Bergman. Four people died at the scene, including the couple, the taxi driver and the wrong-way driver.
“It is with immeasurable sadness that we share the news that Judson Bergman, our chairman and chief executive officer, passed away today in San Francisco in an automobile accident,” the company said in a statement. “Mr. Bergman’s wife, Mary Miller, also sadly perished in this tragedy. On behalf of our board of directors, management team and employees, we extend our deepest sympathies to Jud and Mary’s family. As Envestnet’s founder, Jud was a remarkable leader whose vision, brilliance and drive built the foundation for Envestnet’s success.”
Following Bergman’s death, the Board of Directors implemented the company’s emergency succession plan and has appointed Bill Crager, President of Envestnet and Chief Executive of Envestnet Wealth Solutions, as Interim Chief Executive Officer. Mr. Crager has served as President of Envestnet since 2002. The Board of Directors also appointed Ross Chapin, the Lead Independent Director of Envestnet’s Board of Directors as Interim Chairman of Envestnet’s Board of Directors.
“We have all experienced a great loss at Envestnet,” stated 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. Bill and Jud worked closely over the last 20 years and have built a resilient team that will see us through these dark days. Jud was a giant as a businessman and human being. We will miss him immensely.”
Judson Bergman Age
He was 62 years old.
Judson Bergman Education
Bergman was a Minnesota native who graduated from Wheaton College with a bachelor’s degree in English, and later got an MBA from Columbia University.
Judson Bergman First Wife
Judson Bergman’s first wife was Susan Bergman, with whom he had four children. Susan was diagnosed with brain cancer in 2002 and died in 2006. They had been married 27 years.
Bergman and Susan seeded Envestnet but later turned to venture-capital firms, including Edgewater Funds and Apex Venture Partners in Chicago, for more funding. Those investment firms cashed out, and the company was largely owned by institutional investors, with Bergman as a minority owner.
Judson Bergman Wife
He was married to his wife Mary Miller-Bergman. Miller-Bergman was the founder and managing partner of Chicago-based Hanover Hill Wealth Advisors. She earned her bachelor’s degree in finance from the University of Illinois at Champaign-Urbana and an MBA from the University of Chicago.
Judson Bergman Children
Bergman had had four children with his late first wife, Susan. When he later married Miller-Bergman, she brought three of her own kids to their family.
Judson Bergman Net Worth
Judson Bergman’s net worth was estimated to be $55.9 Million.