The other day I wrote about hot fintech stocks that you should look into. After writing that post, I came across another fintech stock, one that could be even better than the ones I previously wrote about. The stock is Envestnet and if you never heard of them, sit back and grab a cup of coffee. You are going to be amazed at this stock and its future prospects.

Who is Envestnet?

Envestnet (NYSE: ENV) is a cloud-based wealth management software company. In a nutshell, they help financial advisors do their jobs more efficiently. Now, the big players out there, like Morgan Stanley and Edward Jones have their own proprietary wealth management software. But most registered investment advisors don’t.

They need to spend time and money in researching and buying the products they need in order to be successful.

As a result, Envestnet has created a one-stop-shop wealth management software package for registered investment advisors. Their software package includes:

By bundling these together, it saves the advisors time and money so they can focus on their clients and growing the business.

As it stands now, Envestnet has over 50,000 advisors using their software and those advisors have over $1.2 trillion assets under management.

Where Envestnet Is Headed

The future is blindingly bright for this company. From their own estimates, Envestnet believes they will reach over 250,000 advisors and have over $12 trillion in assets under management.

The company also expects long term organic revenue growth of 15%. While they don’t place a number on profit margin, investors can expect this number to grow even faster. This is because the cost to add new advisors is minimal so each future dollar the company earns is worth more.

Wall Street analysts also agree on the future of this company. They expect Envestnet to have earnings per share growth of 20% annually for the next 5 years.