envestnet | wms 's overlay portfolio management console helps wealth managers efficiently build customized client portfolios that consider both proprietary and open-architecture investment solutions . we believe that our business model results in a high degree of recurring and predictable financial results . revenues overview we earn revenues primarily under two pricing models . first , a majority of our revenues is derived from fees charged as a percentage of the assets that are managed or administered on our technology platform by financial advisors . these revenues are recorded under revenues from assets under management ( aum ) or administration ( aua ) or collectively ( aum/a ) . our asset-based fees vary based on the types of investment solutions and services that financial advisors utilize . asset-based fees accounted for approximately 83 % , 81 % and 81 % of our total revenues for the years ended december 31 , 2013 , 2012 and 2011 , respectively . in future periods , the percentage of our total revenues attributable to asset-based fees is expected to vary based on fluctuations in securities markets , whether we enter into significant license agreements , the mix of aum or aua , and other factors . as of december 31 , 2013 , approximately $ 180 billion of investment assets subject to asset-based fees were managed or administered utilizing our technology platform by approximately 23,000 financial advisors through approximately 740,000 investor accounts . 29 we also generate revenues from recurring , contractual licensing fees for providing access to our technology platform . these revenues are recorded under revenues from licensing and professional services . licensing fees are generally fixed in nature for the contract term and are based on the level of investment solutions and services provided , rather than on the amount of client assets on our technology platform . licensing fees accounted for 15 % , 15 % and 16 % of our total revenues for the years ended december 31 , 2013 , 2012 and 2011 , respectively . fees received in connection with professional services accounted for the remainder of our total revenues . as of december 31 , 2013 , approximately $ 360 billion of investment assets for which we receive licensing fees for utilizing our technology platform were serviced by approximately 7,800 financial advisors through approximately 1,508,000 investor accounts . the following table provides information regarding the amount of assets utilizing our platform technology , investor accounts and financial advisors in the periods indicated . replace_table_token_5_th revenues from assets under management or administration we generally charge our customers fees based on a higher percentage of the market value of aum than the fees we charge on the market value of aua , because we provide fiduciary oversight and or act as the investment advisor in connection with assets we categorize as aum . the level of fees varies based on the nature of the investment solutions and services we provide , as well as the specific investment manager , fund and or custodian chosen by the financial advisor . a portion of our revenues from assets under management or administration include costs paid by us to third parties for sub-advisory , clearing , custody and brokerage services . these expenses are recorded under cost of revenues . we do not have fiduciary responsibility in connection with aua and , therefore , generally charge lower fees on these assets . our fees for aua vary based on the nature of the investment solutions and services we provide . for over 85 % of our revenues from assets under management or administration , we bill customers at the beginning of each quarter based on the market value of customer assets on our platform as of the end of the prior quarter . for example , revenues from assets under management or administration recognized during the fourth quarter of 2013 were primarily based on the market value of assets as of september 30 , 2013. our revenues from assets under management or administration are generally recognized ratably throughout the quarter based on the number of days in the quarter . our revenues from assets under management or administration are affected by the amount of new assets that are added to existing and new client accounts , which we refer to as gross sales . gross sales , from time to time also include conversions of client assets to our technology platform . the amount of assets that are withdrawn from client accounts are referred to as redemptions . we refer to the difference between gross sales and redemptions as net flows . positive net flows indicate that the market value of assets added to client accounts exceeds the market value of assets that have been withdrawn from client accounts . our revenues from assets under management or administration are also affected by changes in the market values of securities held in client accounts due to fluctuations in the securities markets . certain types of securities have historically experienced greater 30 market price fluctuations , such as equity securities , than other securities , such as fixed income securities , though in any given period the type of securities that experience the greatest fluctuations may vary . the following table provides information regarding the degree to which gross sales , redemptions , net flows and changes in the market values of assets contributed to changes in aum or aua in the periods indicated . replace_table_token_6_th during 2013 , we added $ 24.5 billion of conversions included in the above aum/a gross sales figures , and an additional $ 33.6 billion of conversions in licensing . replace_table_token_7_th during 2012 , we added $ 10.4 billion of conversions included in the above aum/a gross sales figures , and an additional $ 13.2 billion of conversions in licensing . story_separator_special_tag the company also derives professional service fees from providing contractual customized platform software development and implementation services , which are recognized under a proportional performance model utilizing an output-based approach . the company 's contracts generally have fixed prices , and generally specify or quantify interim deliverables . our revenue recognition is also affected by our judgment in determining whether collectability is reasonably assured . with regard to allowances for uncollectible receivables , we consider customer-specific information related to delinquent accounts and past loss experience , as well as current economic conditions in establishing the amount of the allowance . purchase accounting during the fourth quarter of 2011 , we completed the acquisition of fundquest for consideration totaling $ 27,796. in the second quarter of 2012 , we completed the acquisitions of prima and tamarac for consideration totaling $ 13,925 and $ 48,427 , respectively . in the third quarter of 2013 , the company completed the acquisition of wms for total consideration of $ 24,730. for more information on the acquisitions see note 3 to the notes to consolidated financial statements . assigning fair market values to the assets acquired and liabilities assumed at the date of an acquisition requires knowledge of current market values , and the values of assets in use , and often requires the application of judgment regarding estimates and assumptions . while the ultimate responsibility resides with management , for material acquisitions , we retain the services of certified valuation specialists to assist with assigning estimated values to certain acquired assets and assumed liabilities , including intangible assets . acquired intangible assets , excluding goodwill , are valued using a discounted cash flow methodology based on future cash flows specific to the type of intangible asset purchased . this methodology incorporates various estimates and assumptions , the most significant being projected revenue growth rates , margins , and forecasted cash flows based on the discount rate and terminal growth rate . management projects revenue growth rates , margins and cash flows based on the historical operating results of the acquired entity adjusted for synergies anticipated to be achieved through integration , expected future performance , operational strategies , and the general macroeconomic environment . we review finite-lived intangible assets for triggering events such as significant changes in operations , customers or future revenue that might indicate the need to impair the assets acquired or change the useful lives of the assets acquired . there was no impairment or change in useful lives recognized on other intangible assets in 2013 , 2012 or 2011. assumed liabilities are valued based on estimates of anticipated expenditures to be incurred to satisfy the assumed obligations , including contractual liabilities assumed , which require the exercise of professional judgment . assumed contracts may have favorable or unfavorable terms that must be valued as of the acquisition date . such valuation is subject to management judgment regarding the evaluation and interpretation of contract terms in relation to other economic circumstances , such as the market rates for office space leases . if we assume a performance obligation to customers as of the acquisition date , a deferred revenue obligation is recognized . judgment is required to evaluate whether a future performance obligation exists and to assign a value to the performance obligation . estimation of working capital settlement amounts , if not resolved prior to the first reporting period after an acquisition , but before the end of the purchase measurement period , requires exercise of management judgment . we measure these amounts at the acquisition date fair value , if their fair value can be determined during the measurement period . if these estimated working capital settlement amounts are not resolved prior to the first reporting period after acquisition , we recognize the asset or liability if it can be reasonably estimated . subsequent adjustments to these provisional working capital settlement amounts are evaluated by management to determine the proper accounting treatment under relevant authoritative guidance . assumed acquired tax liabilities for uncertain tax positions are dependent on assessing the past practices of the acquisition target based on our review of actual tax filings and information obtained through due diligence procedures . evaluation of the validity of tax positions taken by the acquisition target are subject to management judgment . transaction costs associated with business combinations are expensed as they are incurred . 35 internally developed software costs relating to internally developed software that are incurred in the preliminary stages of development are expensed as incurred . management determines when projects have met the criteria of the application development stage . this typically occurs when the conceptual formulation and evaluation of software functionality are finalized . once work on a software application has passed the preliminary stages , internal and external costs , if direct and incremental , are capitalized until the software application is substantially complete and ready for its intended use . these costs include expenditures related to software design , technical specifications , coding , installation of hardware and parallel testing . we cease capitalizing these costs upon completion of all substantial testing of the software application . we also capitalize costs related to specific upgrades and enhancements of our internally developed software when we conclude that it is probable that the expenditures will result in additional functionality . our maintenance and training costs are expensed as incurred . internally developed software is amortized on a straight-line basis over its estimated useful life . we evaluate the useful lives of these assets on an annual basis and test for impairment whenever events or changes in circumstances occur that could impact the recoverability of these assets . there were no impairments to internally developed software during the years ended december 31 , 2013 , 2012 and 2011. non-cash stock-based compensation expense non-cash stock-based compensation expense for stock option and restricted stock grants is estimated at the grant date based on each grant 's fair value , calculated

liquidity and capital resources as of december 31 , 2013 , we had total cash and cash equivalents of $ 49,942 , compared to $ 29,983 as of december 31 , 2012. we plan to use existing cash as of december 31 , 2013 and cash generated in the ongoing operations of our business to fund our current operations and capital expenditures in 2014 . 45 cash flows the following table presents information regarding our cash flows and cash and cash equivalents for the periods indicated : replace_table_token_17_th operating activities net cash provided by operating activities in 2013 increased by $ 309 compared to 2012 , primarily due to an increase in net income of $ 3,195 in 2013 compared to the prior year period , an increase in depreciation and amortization of $ 2,929 , an increase in stock-based compensation of $ 4,396 , offset by an increase of $ 2,629 in deferred income taxes , an increase of $ 2,030 in excess tax benefits from stock-based compensation and an overall net decrease in the change in operating assets and liabilities of $ 5,498. net cash provided by operating activities in 2012 increased by $ 3,799 compared to 2011 , primarily due to a decrease in net earnings of $ 7,140


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources as of december 31 , 2013 , we had total cash and cash equivalents of $ 49,942 , compared to $ 29,983 as of december 31 , 2012. we plan to use existing cash as of december 31 , 2013 and cash generated in the ongoing operations of our business to fund our current operations and capital expenditures in 2014 . 45 cash flows the following table presents information regarding our cash flows and cash and cash equivalents for the periods indicated : replace_table_token_17_th operating activities net cash provided by operating activities in 2013 increased by $ 309 compared to 2012 , primarily due to an increase in net income of $ 3,195 in 2013 compared to the prior year period , an increase in depreciation and amortization of $ 2,929 , an increase in stock-based compensation of $ 4,396 , offset by an increase of $ 2,629 in deferred income taxes , an increase of $ 2,030 in excess tax benefits from stock-based compensation and an overall net decrease in the change in operating assets and liabilities of $ 5,498. net cash provided by operating activities in 2012 increased by $ 3,799 compared to 2011 , primarily due to a decrease in net earnings of $ 7,140
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 Suspicious Activity Report : envestnet | wms 's overlay portfolio management console helps wealth managers efficiently build customized client portfolios that consider both proprietary and open-architecture investment solutions . we believe that our business model results in a high degree of recurring and predictable financial results . revenues overview we earn revenues primarily under two pricing models . first , a majority of our revenues is derived from fees charged as a percentage of the assets that are managed or administered on our technology platform by financial advisors . these revenues are recorded under revenues from assets under management ( aum ) or administration ( aua ) or collectively ( aum/a ) . our asset-based fees vary based on the types of investment solutions and services that financial advisors utilize . asset-based fees accounted for approximately 83 % , 81 % and 81 % of our total revenues for the years ended december 31 , 2013 , 2012 and 2011 , respectively . in future periods , the percentage of our total revenues attributable to asset-based fees is expected to vary based on fluctuations in securities markets , whether we enter into significant license agreements , the mix of aum or aua , and other factors . as of december 31 , 2013 , approximately $ 180 billion of investment assets subject to asset-based fees were managed or administered utilizing our technology platform by approximately 23,000 financial advisors through approximately 740,000 investor accounts . 29 we also generate revenues from recurring , contractual licensing fees for providing access to our technology platform . these revenues are recorded under revenues from licensing and professional services . licensing fees are generally fixed in nature for the contract term and are based on the level of investment solutions and services provided , rather than on the amount of client assets on our technology platform . licensing fees accounted for 15 % , 15 % and 16 % of our total revenues for the years ended december 31 , 2013 , 2012 and 2011 , respectively . fees received in connection with professional services accounted for the remainder of our total revenues . as of december 31 , 2013 , approximately $ 360 billion of investment assets for which we receive licensing fees for utilizing our technology platform were serviced by approximately 7,800 financial advisors through approximately 1,508,000 investor accounts . the following table provides information regarding the amount of assets utilizing our platform technology , investor accounts and financial advisors in the periods indicated . replace_table_token_5_th revenues from assets under management or administration we generally charge our customers fees based on a higher percentage of the market value of aum than the fees we charge on the market value of aua , because we provide fiduciary oversight and or act as the investment advisor in connection with assets we categorize as aum . the level of fees varies based on the nature of the investment solutions and services we provide , as well as the specific investment manager , fund and or custodian chosen by the financial advisor . a portion of our revenues from assets under management or administration include costs paid by us to third parties for sub-advisory , clearing , custody and brokerage services . these expenses are recorded under cost of revenues . we do not have fiduciary responsibility in connection with aua and , therefore , generally charge lower fees on these assets . our fees for aua vary based on the nature of the investment solutions and services we provide . for over 85 % of our revenues from assets under management or administration , we bill customers at the beginning of each quarter based on the market value of customer assets on our platform as of the end of the prior quarter . for example , revenues from assets under management or administration recognized during the fourth quarter of 2013 were primarily based on the market value of assets as of september 30 , 2013. our revenues from assets under management or administration are generally recognized ratably throughout the quarter based on the number of days in the quarter . our revenues from assets under management or administration are affected by the amount of new assets that are added to existing and new client accounts , which we refer to as gross sales . gross sales , from time to time also include conversions of client assets to our technology platform . the amount of assets that are withdrawn from client accounts are referred to as redemptions . we refer to the difference between gross sales and redemptions as net flows . positive net flows indicate that the market value of assets added to client accounts exceeds the market value of assets that have been withdrawn from client accounts . our revenues from assets under management or administration are also affected by changes in the market values of securities held in client accounts due to fluctuations in the securities markets . certain types of securities have historically experienced greater 30 market price fluctuations , such as equity securities , than other securities , such as fixed income securities , though in any given period the type of securities that experience the greatest fluctuations may vary . the following table provides information regarding the degree to which gross sales , redemptions , net flows and changes in the market values of assets contributed to changes in aum or aua in the periods indicated . replace_table_token_6_th during 2013 , we added $ 24.5 billion of conversions included in the above aum/a gross sales figures , and an additional $ 33.6 billion of conversions in licensing . replace_table_token_7_th during 2012 , we added $ 10.4 billion of conversions included in the above aum/a gross sales figures , and an additional $ 13.2 billion of conversions in licensing . story_separator_special_tag the company also derives professional service fees from providing contractual customized platform software development and implementation services , which are recognized under a proportional performance model utilizing an output-based approach . the company 's contracts generally have fixed prices , and generally specify or quantify interim deliverables . our revenue recognition is also affected by our judgment in determining whether collectability is reasonably assured . with regard to allowances for uncollectible receivables , we consider customer-specific information related to delinquent accounts and past loss experience , as well as current economic conditions in establishing the amount of the allowance . purchase accounting during the fourth quarter of 2011 , we completed the acquisition of fundquest for consideration totaling $ 27,796. in the second quarter of 2012 , we completed the acquisitions of prima and tamarac for consideration totaling $ 13,925 and $ 48,427 , respectively . in the third quarter of 2013 , the company completed the acquisition of wms for total consideration of $ 24,730. for more information on the acquisitions see note 3 to the notes to consolidated financial statements . assigning fair market values to the assets acquired and liabilities assumed at the date of an acquisition requires knowledge of current market values , and the values of assets in use , and often requires the application of judgment regarding estimates and assumptions . while the ultimate responsibility resides with management , for material acquisitions , we retain the services of certified valuation specialists to assist with assigning estimated values to certain acquired assets and assumed liabilities , including intangible assets . acquired intangible assets , excluding goodwill , are valued using a discounted cash flow methodology based on future cash flows specific to the type of intangible asset purchased . this methodology incorporates various estimates and assumptions , the most significant being projected revenue growth rates , margins , and forecasted cash flows based on the discount rate and terminal growth rate . management projects revenue growth rates , margins and cash flows based on the historical operating results of the acquired entity adjusted for synergies anticipated to be achieved through integration , expected future performance , operational strategies , and the general macroeconomic environment . we review finite-lived intangible assets for triggering events such as significant changes in operations , customers or future revenue that might indicate the need to impair the assets acquired or change the useful lives of the assets acquired . there was no impairment or change in useful lives recognized on other intangible assets in 2013 , 2012 or 2011. assumed liabilities are valued based on estimates of anticipated expenditures to be incurred to satisfy the assumed obligations , including contractual liabilities assumed , which require the exercise of professional judgment . assumed contracts may have favorable or unfavorable terms that must be valued as of the acquisition date . such valuation is subject to management judgment regarding the evaluation and interpretation of contract terms in relation to other economic circumstances , such as the market rates for office space leases . if we assume a performance obligation to customers as of the acquisition date , a deferred revenue obligation is recognized . judgment is required to evaluate whether a future performance obligation exists and to assign a value to the performance obligation . estimation of working capital settlement amounts , if not resolved prior to the first reporting period after an acquisition , but before the end of the purchase measurement period , requires exercise of management judgment . we measure these amounts at the acquisition date fair value , if their fair value can be determined during the measurement period . if these estimated working capital settlement amounts are not resolved prior to the first reporting period after acquisition , we recognize the asset or liability if it can be reasonably estimated . subsequent adjustments to these provisional working capital settlement amounts are evaluated by management to determine the proper accounting treatment under relevant authoritative guidance . assumed acquired tax liabilities for uncertain tax positions are dependent on assessing the past practices of the acquisition target based on our review of actual tax filings and information obtained through due diligence procedures . evaluation of the validity of tax positions taken by the acquisition target are subject to management judgment . transaction costs associated with business combinations are expensed as they are incurred . 35 internally developed software costs relating to internally developed software that are incurred in the preliminary stages of development are expensed as incurred . management determines when projects have met the criteria of the application development stage . this typically occurs when the conceptual formulation and evaluation of software functionality are finalized . once work on a software application has passed the preliminary stages , internal and external costs , if direct and incremental , are capitalized until the software application is substantially complete and ready for its intended use . these costs include expenditures related to software design , technical specifications , coding , installation of hardware and parallel testing . we cease capitalizing these costs upon completion of all substantial testing of the software application . we also capitalize costs related to specific upgrades and enhancements of our internally developed software when we conclude that it is probable that the expenditures will result in additional functionality . our maintenance and training costs are expensed as incurred . internally developed software is amortized on a straight-line basis over its estimated useful life . we evaluate the useful lives of these assets on an annual basis and test for impairment whenever events or changes in circumstances occur that could impact the recoverability of these assets . there were no impairments to internally developed software during the years ended december 31 , 2013 , 2012 and 2011. non-cash stock-based compensation expense non-cash stock-based compensation expense for stock option and restricted stock grants is estimated at the grant date based on each grant 's fair value , calculated

