Wealth Tech Matures: Bill Crager's New Venture Field

Wealth Tech Matures: Bill Crager's New Venture Field

Bill Crager, former CEO and co-founder of Envestnet, has launched Field, a fintech that aims to unify wealth managers' various information technology systems into a cohesive, interoperable tech stack.

Field's Core Mission

Field addresses the problem that investment advisors rely on numerous tools for billing, financial planning, portfolio management, and compliance, each operating in silos. While effective individually, the lack of interoperability forces advisors to manually integrate data to provide holistic advice.

Crager says, "I spent my career watching this problem grow. The tools got better every year. But the ground beneath them still hasn't been properly built. Field exists to be that ground."

Different from Envestnet

Unlike Envestnet's centralized hub approach, Field positions itself as a data company. "We unify data from existing systems — we have no ambition to replace them," Crager explains. Field enables advisory firms to make their Envestnet software communicate with tools from other providers.

Technology and Backing

Field is backed by iAltA, a holding company funded by private-equity firm WestCap. Its technology is powered by BridgeIT API platform and Precept, which provides integration with an AI layer to combine data from custodians, CRM systems, planning tools, and alternative investment platforms.

Crager notes, "We've seen this pattern before, across communications, the internet, and wealth management itself. When ecosystems mature, the next phase of innovation is about coordination. Field is our answer to that moment in wealth management."