Despite his managerial missteps, Crager is well regarded within the wealth management industry. As longtime industry analyst Alois Pirker observed: "Bill Crager stepping down is an end of an era. Together with Jud Bergman, Bill worked tirelessly to put Envestnet on the map and to advance wealth management as a whole." Sipp seen as front runner Envestnet's board of directors will begin a search for a new CEO, but company insiders think that EVP Tom Sipp, who will continue to lead Envestnet's business lines, is the front runner for the job. Meanwhile, board chair James Fox will serve as interim CEO. Crager, who will step down in April, is expected to bring Sipp, who has a finance background, up to speed on client and partner relationships and strategic initiatives. Crager said he will have "a front-row seat" for Envestnet's "next chapter."