Vanare, a digital wealth management technology firm, has received $20m in financing from WisdomTree Investments and has changed its name to AdvisorEngine.
The name change, according to the company, underscores its original vision to empower advisors using integrated technology across the full client spectrum, ranging from high net-worth clients to lower balance relationships.
Also, WisdomTree and AdvisorEngine 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.
WisdomTree CEO and president Jonathan Steinberg 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."
SenaHill Securities acted as exclusive strategic and financial advisor to Vanare.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData