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WisdomTree takes a stake in digital wealth-management platform AdvisorEngine

Published 11/20/2016, 07:42 AM
WisdomTree takes a stake in digital wealth-management platform AdvisorEngine
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  • On Friday, WisdomTree Investments (NASDAQ:WETF) announced a $20M purchase of a 36% equity stake in digital wealth-management platform, AdvisorEngine (formerly Vanare). WisdomTree's asset-allocation models will be made available as defaults on AdvisorEngine's open architecture platform.
  • There is a trend here: ETF providers are joining up with digital-advice platforms, thereby finding a shelf to distribute their products and strategies.
  • Mind you, Friday's deal doesn't go as far as BlackRock's (NYSE:BLK) acquisition of FutureAdvisor last year or Invesco's (NYSE:IVZ) acquisition of Jemstep this year, Alois Pirker, research director for Aite Group's wealth-management practice notes.


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