New York-based digital wealth management platform AdvisorEngine has agreed to acquire the technology assets and intellectual property of Wealthminder, a Virginia-based software firm that supports adviser-client collaboration, for an undisclosed sum.

AdvisorEngine said that the integration of Wealthminder's digital prospecting tools will help financial firms boost new and strengthen existing relationships with clients.

Wealthminder founder and CEO Rich Ellinger will join AdvisorEngine as part of the deal.

AdvisorEngine founder and CEO Rich Cancro said: "When Rich Ellinger and I began talking, it was clear we shared similar philosophies about helping advisors connect with and serve clients.  AdvisorEngine will continue to be an open architecture platform with key integrations to other financial planning tools, as CRMs and planning tools are often very personal to the advisor."

Last year, WisdomTree made a $20m equity investment in AdvisorEngine and agreed to make its asset allocation models available through AdvisorEngine's open architecture platform.