Junxure, CRM, wisdomtree, robo, pr, Financial Advisors, Financial Planners, Wealth Management, Investment Advisors, Platform, B2B

AdvisorEngine Acquires Junxure and Raises Additional Growth Capital

Combination enables financial advisors to incorporate smart automation across investment and business processes - regardless of CRM provider

NEW YORK and RALEIGH, N.C. (Jan. 2, 2018) -- AdvisorEngine, the innovative fintech company that is reimagining how technology can serve financial advisors, has acquired CRM Software, Inc., better known as Junxure – provider of the industry's most awarded CRM ("client relationship management") software with a 98 percent client satisfaction rate1 across 12,000 users managing over $600 billion in assets. The combined company will pair digital solutions with consulting services to help financial advisors use technology as a competitive advantage.

The acquisition further enhances AdvisorEngine's open-architecture ecosystem and continues the company's approach of connecting disparate technologies, data and workflows to create a unified user experience. Junxure users will not experience any changes in service and will continue to be supported by their dedicated Junxure client success team.

"The next frontier of innovation within financial services is happening at the intersection of personal relationships, data science and automation – which makes native CRM functionality especially powerful," said Rich Cancro, AdvisorEngine Founder and CEO. "I am thrilled to bring the companies together while maintaining Junxure's culture of innovation and independence."

"This combination opens up new possibilities for Junxure clients across prospecting, client engagement, financial planning, portfolio construction and business operations," said Greg Friedman, Junxure President and Co-Founder. "Having known Rich for years, I am truly excited about this next chapter for Junxure clients and employees."

As part of the acquisition, WisdomTree Investments, Inc.—the global ETP sponsor driven by research and technology, and AdvisorEngine's largest shareholder—has committed to lend up to $30 million of working capital to AdvisorEngine, including providing an initial funding amount of $22 million today. The majority of the proceeds will be used to fund the acquisition, with the remainder to be used for future technology development and other growth initiatives.

"WisdomTree is proud to be part of AdvisorEngine's open-architecture ecosystem," said Jarrett Lilien, Executive Vice President–Head of Emerging Technologies for WisdomTree. "We see compelling opportunities to help advisors create operational alpha through technology and differentiate investment performance through smart portfolio construction."

A HISTORY OF INNOVATION AND CLIENT SERVICE

The concept behind Junxure began in 1995, when financial advisor Greg Friedman was searching for a way to scale his business without compromising personal service. "I was frustrated because there were no providers out there who actually understood how my advisory business worked," Friedman added. "So, I built my own solution. I didn't set out to build a CRM company, but over the years people started asking if they could use our technology."

Since launching its purpose-built CRM for financial advisors in 2001, Junxure has built a loyal user base, including financial advisors, operations leaders and business management personnel. Today, many Junxure users spend more time in Junxure than any other financial software application. Recently, the firm's Junxure Cloud® product was recognized at the 2017 Wealthmanagement.com Awards as the industry's top CRM.

ADVISORENGINE + JUNXURE = A POWERFUL COMBINATION

"As the companies are integrated, Junxure clients will gain access to a beautiful user experience that is unified across business management personnel, financial advisors and their clients," Friedman said. "AdvisorEngine uses design as differentiation."

AdvisorEngine offers prospecting and client engagement tools, paperless client onboarding, account aggregation, CRM, goals-based financial planning tools, model portfolios, portfolio construction analytics, compliance monitoring tools, performance reporting and fee billing. Beginning immediately, AdvisorEngine will invest significantly in CRM-related initiatives to further enhance Junxure functionality and integrate more deeply with third-party technology companies, including other CRM providers. 

"AdvisorEngine is fully committed to an open-architecture technology framework. We know that every advisory firm is different, so we believe in delivering powerful workflows that are CRM-agnostic," Cancro said. "Regardless of their contact management system of choice, all AdvisorEngine users will benefit from the Junxure acquisition."

BOLSTERING COMPANY LEADERSHIP

"AdvisorEngine will benefit tremendously from the experience and leadership of the Junxure team. We expect to retain Junxure employees and will make new hires across our offices in Atlanta, New York and Raleigh," said AdvisorEngine Chief Operating Officer Craig Ramsey.

Chris Lybeer, AdvisorEngine General Manager, will lead the integration of the firms, ensuring close coordination across AdvisorEngine's offices. Carly de Diego, AdvisorEngine Head of Advisor Solutions, will oversee the client success organization, ensuring consistent client service.

Junxure employees will take on key leadership roles in the combined company. Greg Friedman will serve as a strategic advisor and speak at AdvisorEngine workshops around the country. Junxure Vice President Mike Sbrocco—a finance and operations executive with public company experience at digital creative agency Isobar—has been named AdvisorEngine Chief Financial Officer, overseeing finance and human resources for the combined business. Junxure Chief Information Officer Tim Betts—a technology executive with previous experience at Charles Schwab, LMS Medical Systems, GE Healthcare and IBM—has been named AdvisorEngine Chief Information Officer, overseeing all technology efforts for the combined business.

ABOUT ADVISORENGINE

AdvisorEngine builds powerful and intuitive technology for financial advisors. The company delivers a unified experience across three core groups: client, advisor and business management personnel. AdvisorEngine's wealth management technology platform operates at the forefront of the industry, applying smart automation to mission-critical advisor activities. The AdvisorEngine team is made up of enterprise technologists, data scientists, designers, futurists, business builders and former financial advisors. For more information, please visit www.AdvisorEngine.com.

ABOUT JUNXURE

CRM Software, Inc. (d/b/a Junxure) was established in 2001 by Ken Golding and Greg Friedman, MS, CFP®, a financial advisor who developed the initial Junxure software to streamline operations at his growing firm. Today, Junxure is an industry leader of advisor technology and practice management solutions with more than 12,000 active users and a client retention rate of 96 percent. Greg Friedman serves as both President of Junxure as well as President of Private Ocean, one of the West Coast's most innovative wealth management firms. The inspiration for Junxure consulting, training and software comes from Mr. Friedman's day-to-day experience running his practice and helping his clients achieve their personal financial goals. For more information, please visit www.junxure.com.

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 $48.9 billion in assets under management globally.  For more information, visit their Investor Relations website

1 Based on 2017 internal user survey.

Media contact:

Jessica Shores
Impact Communications
(800) 974-7753
JessicaShores@ImpactCommunications.org    

 

wisdomtree, pr, Kredible

WisdomTree and AdvisorEngine Strengthen Advisor Growth Program Through Kredible Technology Acquisition

Companies Integrate Kredible, a Technology-Enabled, Research-Driven Practice Management Firm Designed to Help Advisors Acquire New Clients

NEW YORK (April 27, 2017) – 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 Businesses

In 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 Kredible

Kredible 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 Advisor

In 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 Partners
SenaHill 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.