The massive payout ends a yearslong legal saga stemming from allegations that Brockman hid more than $2 billion in income from the IRS through a sprawling offshore web of shell companies and secret bank accounts.
Under the terms of the settlement, Brockman’s estate will pay $456 million in back taxes and $294 million in penalties covering tax years from 2004 through 2018, the filing shows.
Backed by the recent acquisition by Bain Capital, Envestnet's roadmap signals a strong continued focus: toward critical areas of platform unification, enhanced Unified Managed Account (UMA) infrastructure, flexible household modeling, the integration of multiple investment types, and expanded tools to help advisors deepen and expand client relationships.
With SAM, advisors have full control over the investment experience. They retain control over asset allocation and product selection, either using their own or accessing them from third parties on SAM's open-architecture Model Distribution Service.
