This morning AdvisorEngine announced a series of transformational transactions that increased its valuation to over $100 million, and affirmed its status as the leading technology platform for financial advisors to manage and grow their business.
First, AdvisorEngine acquired Junxure, the provider of the industry-leading client relationship management technology platform. Junxure is used by 1,400 financial advisory firms, with $600 billion of assets running through its platform. This transaction brings that additional scale and capability to the AdvisorEngine Platform.
To fund the Junxure acquisition and provide additional working capital for integration and future growth, AdvisorEngine received a commitment of $30 million from WisdomTree (NASDAQ: WETF), the publicly-traded asset management firm.
Finally, AdvisorEngine entered into and agreement that gives WisdomTree the option to fully acquire the remaining equity interests of AdvisorEngine with the closing to occur no later than January 15, 2019.
While an incredible amount of opportunity exists to continue to further expand its platform, we are exceptionally proud of the achievements to date from from the entire management team of AdvisorEngine, especially their CEO, Richard Cancro.
You can find the full press release at the link below.
Article