WisdomTree Investments, Inc. (NASDAQ:WETF), an exchange-traded fund
(“ETF”) and exchange-traded product (“ETP”) sponsor and asset
manager driven by research and technology, and AdvisorEngine Inc.,
a digital wealth management platform, jointly announce their
commitment to providing advisor growth solutions through
AdvisorEngine’s acquisition of Kredible Technologies, Inc.
(“Kredible”), a technology-enabled, research-driven practice
management firm designed to help advisors acquire new clients.
WisdomTree and AdvisorEngine: Collectively Helping
Advisors Grow Their BusinessesIn November 2016,
WisdomTree, an independent-thinking asset manager with a focus on
research and a history of innovation, and AdvisorEngine, a B2B full
enterprise wealth management technology platform, established a
strategic relationship with a common goal: to help financial
advisors grow their businesses and better connect with their
clients in a rapidly evolving industry and regulatory
environment.
“AdvisorEngine has been continuously focused on helping
financial advisors scale and grow. Our investment in Kredible’s
powerful, research-based marketing tools further demonstrates our
commitment to the financial services space,” said AdvisorEngine
CEO, Rich Cancro. “So many advisors struggle with building out a
solid online presence; Kredible’s platform streamlines the process
with the goal of acquiring new clients.”
Thomas Skrobe, WisdomTree Head of Client Solutions, said,
“WisdomTree and AdvisorEngine are committed to building a global
advisor solutions program to help meet evolving client needs. With
the wealth management industry changing quickly and significantly,
financial advisors need to evolve the way they do business.
Kredible’s solutions are a natural addition to our offerings,
enabling advisors to differentiate themselves and grow their
businesses through digital enhancements and modern techniques.”
Beyond WisdomTree’s ETF, ETP and CIT offerings, the Company
provides access to an advisor solutions program, which includes
portfolio consulting services, model portfolios and practice
management, incorporating leadership, organizational development
and marketing services.
The Incredible Opportunity for KredibleKredible
is a technology-enabled practice management firm targeting
financial advisors with the goal of helping advisors modernize and
enhance their online presence. Kredible research, including eye
tracking studies of high net worth clients, shows that
approximately 72% of the clients surveyed said online information
is “extremely” or “very” influential to who they hire.
Direct benefits to the advisor include:
- Ability to attract more prospects and win more business by
optimizing their digital presence, such as their social profiles
and organic search rankings
- Access to relevant content and analytics
- A behavioral, research-based online property for each advisor
that helps fill a void in most financial advisors’ online
presence
Brad Shepard, Kredible Founder and CEO, said, “Based on our
research, more than 50% of new prospects indicate that they have
eliminated a financial advisor from consideration based on what
they did or didn’t find about them online. The modern advisor must
evolve to meet ever-changing expectations including the way their
prospects and clients find them to determine if they are credible
to manage their financial life and communicate with them on an
ongoing basis.”
“We’re thrilled to join WisdomTree and AdvisorEngine in this
effort,” Shepard adds.
Enhancing Connectivity Between Client and
AdvisorIn February, AdvisorEngine announced the
acquisition of a financial planning technology that both
streamlines the onboarding process and includes an easy-to-use
digital prospecting tool that helps financial firms create and
deliver advice, execute on that advice and monitor client progress.
Going forward, AdvisorEngine will continue to be an open
architecture platform with key integrations to other financial
planning tools and CRMs, as such tools are often very personal to
the advisor.
AdvisorEngine’s Cancro adds, “The financial investment and
strategic relationship with WisdomTree has allowed us to expand the
AdvisorEngine platform to deliver an innovative and sophisticated
set of tools that advisors can use to differentiate themselves from
the competition. Add Kredible to the platform, and you have a
deeper, broader layer of advisor growth solutions to complement our
existing solutions.”
In November 2016, WisdomTree made a $20 million minority equity
investment in AdvisorEngine and announced a strategic agreement
whereby WisdomTree’s asset allocation models would be made
available through AdvisorEngine’s open architecture platform and
WisdomTree would actively introduce the AdvisorEngine platform to
its deep distribution network. WisdomTree is also announcing an
additional $5 million investment in AdvisorEngine to continue to
fuel its growth, leadership and innovation in the advisor solutions
space.
About WisdomTree WisdomTree Investments, Inc.,
through its subsidiaries in the U.S., Europe, Japan and Canada
(collectively, “WisdomTree”), is an exchange-traded fund (“ETF”)
and exchange-traded product (“ETP”) sponsor and asset manager
headquartered in New York. WisdomTree offers products
covering equities, fixed income, currencies, commodities and
alternative strategies. WisdomTree currently has
approximately $43.8 billion in assets under management
globally. For more information, visit our Investor Relations
website.
WisdomTree® is the marketing name for WisdomTree Investments,
Inc. and its subsidiaries worldwide.
About AdvisorEngine Inc.AdvisorEngine, a
pioneer in digital wealth management technology, was the first
company to integrate private-label robo-advice technology within a
full enterprise B2B digital wealth management platform.
AdvisorEngine integrates online and traditional wealth management
processes and workflows to help advisors build deeper relationships
with their clients. Its open architecture platform provides
fully customizable robo-advisor tools, dashboards to analyze and
track business development online account opening and funding,
billing, data aggregation and performance reporting. AdvisorEngine
helps investment firms scale their existing business profitably and
connect with the next generation of clients and advisors. More
information about the firm, which is headquartered in New York, is
available at www.AdvisorEngine.com.
About SenaHill PartnersSenaHill Partners is a
merchant bank offering a full suite of investment, operating and
advisory services to the financial technology sector. From
inception and capital raising through scaling and growth to
strategic exit, SenaHill bridges the gap between FinTech innovators
and global financial institutions to bring a new level of
efficiency, collaboration and success to the industry. For more
information please visit www.SenaHill.com.
SenaHill Securities, LLC acted as exclusive strategic and
financial advisor to AdvisorEngine.
Inertia Advisors, a division of KEMA Partners LLC, acted as
exclusive financial advisor to Kredible in connection with the
transaction.
WisdomTree Contact Information
Media Relations
WisdomTree Investments, Inc.
Jessica Zaloom / Kylie Scott
+1.917.267.3735 / +1.917.267.3860
jzaloom@wisdomtree.com / kscott@wisdomtree.com
Investor Relations
WisdomTree Investments, Inc.
Jason Weyeneth, CFA
+1.917.267.3858
jweyeneth@wisdomtree.com
AdvisorEngine Contact Information
Media Relations
Impact Communications, Inc.
Jessica Taylor / Marie Swift
+1.913.649.5009 / +1.913.961-4030
jessicataylor@impactcommunications.org / marieswift@impactcommunications.org
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