Adviser Investments, the Newton, Massachusetts–based wealth-management firm, has hired longtime Envestnet executive Tim Clift as chief investment officer.

The move was confirmed by Adviser Investments in a social media post earlier this month.

Clift joined Envestnet in 2011 as part of the firm’s acquisition of turnkey asset management platform FundQuest. He most recently held the role of chief investment strategist, overseeing the firm’s research and portfolio-management functions.

Clift had been at FundQuest 17 years and had previously spent four years as a vice president at Donaldson, Lufkin & Jenrette, according to his LinkedIn profile.

“I am enormously excited to join Adviser to lead an already exceptional team,” Clift said in an emailed statement provided to FA-IQ. “I think you’ll see our strategy lineup evolve, as innovation in our industry has created more robust investment products and tools to complement our broader lineup of services.”

Adviser Investments provides investment management, financial and tax planning, and 401(k) advisory services to individuals, trusts, institutions and foundations. The firm and its subsidiaries manage a total of more than $8 billion for more than 5,000 clients, according to a spokesperson.

The firm, which was founded by Dan Wiener, focuses on building portfolios using Vanguard and Fidelity products, according to its website. Weiner’s team wrote "The Independent Adviser for Vanguard Investors," which ran for more than 30 years before the publisher pulled the plug in September.

At Envestnet, Dana D’Auria, group president, Envestnet Solutions, and her team will pick up Clift’s duties until a replacement is hired, according to an emailed statement to FA-IQ from an Envestnet spokesperson.

Envestnet supported nearly 106,000 advisors as of the end of September, regulatory filings indicate.

As of the most recent quarter, the firm reported about $4.8 billion under management and about $350.6 billion under administration.