eMoney Advisor to Report Record-Breaking Year

Emoney Advisor
Emoney Advisor

– Revenue up 31 percent YOY, and nearly 59 percent since acquisition by Fidelity Investments® in 2015

– Company growth influenced by industry forces, expanded workforce and enhanced product roadmap

RADNOR, Pa., Dec. 20, 2016 /PRNewswire/ — eMoney Advisor today announced that 2016 will be the financial technology company’s most successful year to date, with the firm realizing a 31 percent increase in revenue since year-end 2015, and a nearly 59 percent increase in revenue since Fidelity Investments® acquired the firm in February of 2015. The record growth is a testament to eMoney’s ability to leverage its core wealth planning platform capabilities and advance its already strong industry position.

“This year we returned to our roots with an innovative product strategy that broadens the availability and quality of advice delivered through advisors,” said Ed O’Brien, CEO of eMoney since March and one of nearly 100 employees who has joined the company in 2016.

“At the same time, a steady flow of industry and regulatory factors influenced expectations for the experience of giving and receiving financial advice, and led even elite members of the industry to question if their current tools could keep them competitive. For many, the answer was what we have long known—an integrated and comprehensive wealth-planning platform will outperform a financial planning tool any day of the week. And our numbers reflect that,” O’Brien continued.

2016 was a productive year for eMoney’s product development efforts, culminating with the release of approximately 80 updates and enhancements to its emX Suite, including a reimagined client portal—named best in the industry by WealthManagement.com—a new Advanced Analytics product, and the Fiduciary Framework initiative to bridge the gap between planning and compliance. With other releases like in-app training and on-screen guidance tools, automated onboarding, advanced security through RSA two-form authentication, and innovative integrations with Fidelity, Riskalyze and others that make planning interactive, collaborative and actionable for advisors and their clients, eMoney sought to upgrade its overall experience, setting itself apart as one of the most comprehensive and dynamic fintech solutions on the market.

“Advisors and firms are faced with many choices that ultimately determine the quality of service they provide. This year in particular, we worked hard to implement a strategy that creates more opportunity for advisors to experience the value of eMoney and benefit from the unique and varied ways our technology can set them apart,” O’Brien said.

The goal of accommodating advisors looking to leverage technology differently in their businesses led eMoney to refresh its product and pricing strategy and release an unbundled product offering with emX Select, as well as a new pricing model early in the year.

In combination, these changes paved the way for more firms to execute an office-wide technology strategy that meets their unique needs at a price point that accommodates scale, and contributed to a 21 percent growth in EMA users—eMoney’s street version platform—and a 24 percent increase in Enterprise partnerships, including Waddell & Reed who signed on in July.

“Firms are realizing the cost to build and maintain the type of streamlined, technology-enabled experience required to compete today is prohibitively high,” O’Brien continued. “On the other side of that, they’re also realizing they can no longer justify any amount of cost on technology that meets only a portion of their needs, just to save a few bucks. In the long-term, it’s about a technology partner, not a technology provider.”

As eMoney looks to the year ahead, there are no plans to hit the brakes. The 2017 roadmap features new products and enhancements that will drive the firm’s vision to provide a more automated, interactive, and scalable wealth planning experience, including:

  • A digital advice platform, co-developed with Fidelity
  • Additional custodial integrations
  • A new lead generation solution
  • Expanded compliance capabilities
  • A robust API strategy
  • A 401(k) plan participant experience
  • A revamped advisor marketing product
  • Simplified and full-spectrum planning solutions

To accommodate eMoney’s growth, its workforce expanded by nearly 24 percent since 2015, and approximately 100 additional employees will be hired by the end of 2017. Despite the additional headcount, eMoney’s trademark corporate culture continued to be a top priority, and its headquarters located in Radnor, Pa., as well as its West Coast office located in La Jolla, Calif., were recognized as best places to work in the Philadelphia and San Diego areas, respectively.

“The important role the dedicated and talented members of the eMoney team have played in our growth should not go without mention,” said O’Brien.  “Through an acquisition and leadership transition, this team showed poise and maturity, and remained focused on our mission to support to our 40,000 clients, delivering our most successful year to date.”
Other industry accolades in 2016 include another WealthManagement.com Industry Award for “Platform Innovation,” along with eight Stevie Awards for outstanding customer service. Additionally, O’Brien was named one of the “25 Most Influential People in the Financial Advisory Industry” by Investment Advisor.

“As we close out the year, I couldn’t imagine a better position for our firm to be in,” said O’Brien.  “We have an exciting roadmap in the works for 2017, and I can’t wait to see what the future holds for eMoney, our employees and our industry.”