ETF has invested $20 million in a robo advice wealth platform 

WisdomTree Investments, Inc. (NASDAQ:WETF) announced that it has invested $20 million for a 36% equity interest in AdvisorEngine, formerly known as Vanare, an end-to-end digital wealth management platform which enables individual customization of investment philosophies. 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 deep distribution network. AdvisorEngine’s award-winning offering, enhanced through the collaboration with WisdomTree, enables advisors to more effectively serve their clients in a post-DOL Fiduciary Rule environment.¹

Jonathan Steinberg, WisdomTree CEO and President, said, “The end-investor experience is being revolutionized by new technologies and new investment products like ETFs. Forward-thinking financial institutions have an opportunity to thrive in this changing environment. AdvisorEngine’s expertise in B2B digital advice makes it a natural choice for these firms.”

Pioneering Technology

AdvisorEngine, a pioneer in digital wealth management technology, was the first company to integrate private-label robo-advice within a full enterprise B2B digital wealth management technology platform. AdvisorEngine will continue to offer an array of distinct product offerings that provide advisors with new client prospecting tools, online client onboarding, institutional grade analytics, trading, performance reporting and billing. Its technology is distinctive in that it provides these features from an advisor-centric point of view, allowing advisors to deepen their engagement with clients and demonstrate the value of the advisory relationship.

Rich Cancro, AdvisorEngine Founder and Chief Executive Officer, said, “The name change of Vanare to AdvisorEngine underscores the company’s vision to empower advisors using integrated technology across the full client spectrum, ranging from high net worth clients to lower balance relationships.”

“WisdomTree and AdvisorEngine are both innovators. The financial investment and strategic relationship with WisdomTree will enhance our execution and allow us to grow as an independent, open architecture firm,” Cancro added.

SenaHill Securities LLC acted as exclusive strategic and financial advisor to AdvisorEngine (Vanare).

¹DOL Fiduciary Rule set to be implemented in April 2017 in the United States. Similar regulation is in progress in varying stages globally.

Source: WisdomTree

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