In my case, this error started happening after a large number of Windows security updates were installed, and only occurred when I tried to open SSMS by using a runas command with the /noprofile switch. This had been working fine previously, but after the patching, the presence of the /noprofile switch caused this error to come up when opening SSMS 2014.
I also wasn't able to open Visual Studio 2010 using a runas /noprofile command either, which also had been working previously.
To resolve the issue, I did the following:
In a regular command prompt:
Runas /user:xxx\yyyyy cmd
(where xxx\yyyy is the account that I am trying to run SSMS and VS as.)
In the new command prompt:
cd program files (x86)\Microsoft Visual Studio 10.0\Common7\IDE
After this, all my settings for Visual Studio were gone, but otherwise I was able to open both Visual Studio 2010 and SSMS 2014.