Fidelity Investments is to acquire eMoney Advisor, a Conshohocken, Pennsylvania-based wealth planning software company.
The amount of the transaction, which is subject to customary closing conditions and regulatory approvals, was not disclosed.
The acquisition was part of Fidelity’s commitment to continue enhancing its digital solutions across its retail, workplace and institutional channels.
Today, eMoney’s software is used to track more than $1.4 trillion in client assets managed by 25,000 financial professionals across an extensive network of independent RIAs, banks and accounting firms, as well as 46 out of the top 50 broker dealers and 50 percent of the top insurance companies in the U.S.
eMoney Advisor will remain focused on serving a wide range of financial services providers. Following the close of the deal, its leadership will remain in place with its founder Edmond Walters continuing to serve as its chief executive officer and will maintain its current offices in Pennsylvania and California.
It will help Fidelity deliver on several elements of its next generation broker and advisor platform, which is expected to evolve further to offer comprehensive data management, efficient and integrated office capabilities, and collaborative tools for investors, advisors and home offices.
FinSMEs
02/02/2015