Fidelity Investments has agreed to acquire wealth planning software firm eMoney Advisor.
The move is part of Fidelity’s strategy to improve its digital offerings across its retail, workplace and institutional channels.
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The founder of eMoney Advisor Edmond Walters will continue to serve as the CEO following the acquisition. The firm will also maintain its existing offices in Pennsylvania and California.
eMoney Advisor will enable Fidelity deliver on its next-generation broker and advisor platform.
The platform which builds on investments Fidelity has made in its Streetscape and WealthCentral workstations, are projected to evolve further to provide comprehensive data management, integrated office capabilities, as well as collaborative tools for investors, advisors and home offices.
Moreover, eMoney Advisor will support Fidelity’s efforts on data aggregation and collaboration in a more integrated manner.
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By GlobalDataClients of Fidelity Institutional, the Fidelity Investments unit delivering clearing, custody and investment management products, will be among the first to benefit from the acquisition.
Fidelity Institutional platform technology head Ed O’ Brien said, "The platform is very powerful, yet it is intuitive and easy to use. eMoney is part of our vison for our next-generation advisor platform, but we will not stop there. We will continue to invest heavily in Streetscape and WealthCentral in our quest to provide the best platform for advisors."
The acquisition deal is subject to customary closing conditions and regulatory approvals.
