Envestnet Asset Management Inc., a provider of wealth management products and services, has hired Richard Hughes as an executive vice president for the distribution of its proprietary investment solutions.
Mr. Hughes, whose hiring was announced Monday, has more than 20 years of asset management experience. Most recently, he was as the president of Haverford Financial Services Inc. Earlier he has been the president of Nuveen Asset Management and Rittenhouse Asset Management Inc.
He also was a founding governor of the Money Management Institute in Washington.
Also on Monday, Envestnet announced that it has added Jeff Nicholas to its investment group. He was hired as a senior vice president and director of investment management and research. for the Chicago company.
Before joining Envestnet, Mr. Nicholas worked for Bank of Montreal's Harris Bankcorp Inc., where he oversaw managed account programs.
Envestnet has offices in Chicago, Denver, Los Angeles, New York, and Silicon Valley. It had $38 billion of assets under management as of Sept. 1, and it serves more than 15,000 financial advisers.
