NEW YORK, Nov. 18, 2016 /CNW/ -- Vanare, the innovative
digital wealth management technology platform that has been gaining
momentum in the financial services industry for approximately three
years, announced today that it has secured $20 million in Series A financing. The strategic
investment was made by WisdomTree Investments,
Inc. (NASDAQ: WETF). SenaHill Securities, LLC acted as
exclusive strategic and financial advisor to Vanare.
Vanare also announced that it will change its name to
AdvisorEngine, which underscores the company's original vision to
empower advisors using integrated technology across the full client
spectrum, ranging from high net-worth clients to lower balance
relationships.
WisdomTree and AdvisorEngine have also entered into a strategic
agreement whereby WisdomTree's asset allocation models will be made
available through AdvisorEngine's open architecture platform and
WisdomTree will actively introduce the platform to its deep
distribution network. AdvisorEngine's award-winning offering,
enhanced through the collaboration with WisdomTree, enables
advisors to more effectively serve their clients and scale their
business.
Jonathan Steinberg, WisdomTree
CEO and President, said, "The end-investor experience is being
revolutionized by new technologies and new investment products like
ETFs. Forward-thinking financial institutions have an
opportunity to thrive in this changing environment. AdvisorEngine's
expertise in B2B digital advice makes it a natural choice for these
firms."
PIONEERING TECHNOLOGY
AdvisorEngine, a pioneer in digital wealth management
technology, was the first company to integrate private-label
robo-advice within a full enterprise B2B digital wealth management
technology platform. AdvisorEngine will continue to offer an
array of distinct product offerings that provide advisors with
advanced client prospecting tools, online client onboarding,
institutional grade analytics, trading, performance reporting and
billing. Its technology is distinctive in that it provides these
features from an advisor-centric point of view, allowing advisors
to deepen their engagement with clients and demonstrate the value
of the advisory relationship.
Rich Cancro, AdvisorEngine
Founder and Chief Executive Officer, said, "The name change of
Vanare to AdvisorEngine underscores the company's vision to empower
advisors using integrated technology across the full client
spectrum, ranging from high net worth clients to lower balance
relationships."
"WisdomTree and AdvisorEngine are both innovators. The financial
investment and strategic relationship with WisdomTree will enhance
our execution and allow us to grow as an independent, open
architecture firm," Cancro added.
The funding comes after a tremendous year of client growth. The
company has announced numerous technology and custodian
integrations, significantly expanding its potential reach to
registered investment advisors and financial institutions.
AdvisorEngine will utilize the Series A infusion to fill strategic
staff positions that will support the continued development and
expansion of the wealth management platform.
As a part of the rebranding initiative, AdvisorEngine has
launched a new web site that serves as an introduction to the
platform for advisors seeking an end-to-end digital wealth
management technology solution.
ABOUT ADVISORENGINE (FORMERLY VANARE INC.)
In 2014, AdvisorEngine launched the first ever wealth management
technology platform built specifically for advisors with an
integrated White Label Digital Advisor. AdvisorEngine integrates
online and traditional wealth management processes and workflows to
help advisors build deeper relationships with their clients. From
online account opening and report automation to comprehensive API
platforms—and everything in between—AdvisorEngine provides the
tools advisors need to scale more efficiently and compete more
effectively. Founded by a team of experienced, creative financial
and technology executives, AdvisorEngine continues to innovate in
order to keep advisors at the forefront of wealth management. The
firm, which is headquartered in New
York, has launched a new website; more information can be
found at www.AdvisorEngine.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 $39.0
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 SENAHILL
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.
Logo - http://photos.prnewswire.com/prnh/20161117/441040LOGO
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/vanare-raises-20-million-in-series-a-financing-announces-company-name-change-300365872.html
SOURCE Vanare