Envestnet has acquired a one year old startup named Upside, which provides registered investment advisers with online investment services.

"There's been a lot of attention around the robo-adviser," Bill Crager, president of Envestnet, said. "What Upside does is gives us that front end portal but behind the scenes, Envestnet has the infrastructure to help advisers perform."

Envestnet will use Upside's portal for financial planning and investment management alongside its own services, which include portfolio analytics, reporting and account servicing.