A second chance for PMC brand

Envestnet Asset Management Inc. is bringing the PMC brand name back and giving the unit its own sales force. The Chicago-based supplier of wrap account platforms is giving Portfolio Management Consultants its own four-man sales force as of today with more people to be added in coming months. Envestnet acquired the Denver-based turnkey asset management product producer in 2001 and changed the PMC brand to Envestnet Management and Research Group in 2004. “What’s old is new again,” said Bill Crager, president of Envestnet. In conjunction with the brand re-launch, Envestnet is launching six new mutual funds under the PMC brand. PMC has about $10 billion of assets under management.