AdvisorEngine (fka Vanare), a NYC-based innovative digital wealth management technology platform, secured $20m in Series A financing.
The strategic investment was made by WisdomTree Investments, Inc. (NASDAQ: WETF).
WisdomTree and AdvisorEngine have also entered into a strategic agreement whereby WisdomTree’s asset allocation models will be made available through AdvisorEngine’s open architecture platform and WisdomTree will actively introduce the platform to its distribution network.
Led by Rich Cancro, Founder and Chief Executive Officer, AdvisorEngine integrates private-label robo-advice within a full enterprise B2B digital wealth management technology platform that offers advanced client prospecting tools, online client onboarding, institutional grade analytics, trading, performance reporting and billing.
The company intends to use the funds for the continued development and expansion of its wealth management platform.