Wednesday, January 27 at 2:00 p.m. ET In part 1 of a 3 part series you'll see how financial planning and marketing work together to grow your business, engage clients, and maintain strong relationships.
Radnor, PA – June 30, 2020 – eMoney Advisor (eMoney), a leading provider of technology solutions and services that help people talk about money, today announced it has marked 20 years of transforming the financial advice industry through planning-led solutions. Over the last two decades, eMoney expanded its client base to more than 70,000 financial professionals by developing best-in-class digital tools ranging from advanced planning software to compliance, analytics and marketing solutions.
The Early Days
Founded at the end of the dot-com bubble in June 2000 in Radnor, Pa., eMoney was created to make advisors more efficient by leveraging the internet. While financial technology solutions existed in the late 1990s, a gap presented itself in financial planning tools. In 2001, eMoney released the first version of its platform, including the Advisor Dashboard, Client Portal, Aggregation, and The Vault.
“Just a couple decades ago, a typical financial plan was delivered to clients in a giant box or binder. By the time it was printed, the plan was already out of date,” said Nick DiLisi, head of technology at eMoney, who joined the company in September 2001. “At eMoney, we envisioned developing technology, with features like a Client Portal, that would give clients access to a living, breathing plan at their fingertips.”
The Great Recession
When the Great Recession hit in 2008, financial planning became more important than ever. Investment-focused clients relied on their advisors to lead them through the market downturn and help them achieve their financial goals, despite uncertainty. That same year eMoney hired its one hundredth employee to further support planning-led advisors. By the end of the recession in 2009, eMoney released its first ever mobile experience to create a more interactive client experience.
“This anniversary comes at a time of great financial hardship for many, due to the economic downturn caused by COVID-19,” said Matthew Schulte, head of financial planning and one of the original founding employees of eMoney. “But we’ve been here before. We supported advisors and clients through the 2008 recession by helping them understand the value of financial planning and maintaining a long-term view in times of volatility to achieve financial goals.”
Years of Growth
eMoney expanded its presence to the West Coast, adding a second office in San Diego, Ca., in 2013. Just two years later, in 2015, eMoney was acquired by Fidelity Investments and grew to serve 30,000 financial professionals and 1.2 million households. With Ed O’Brien joining as CEO in 2016, the company grew its footprint in Providence, R.I. and built out its remote workforce.
“At eMoney, we’ve experienced tremendous growth over the last 20 years, even as financial planning technology has become more competitive,” said eMoney’s CEO Ed O’Brien. “We remain committed to helping financial advisors and firms provide holistic planning and more efficiently serve a broader range of clients, and we believe technology will continue to be that connector.”
As the need for multi-generational planning grows, eMoney will continue to expand its product offerings, focusing on advanced planning, aggregation and APIs, among other areas. Additionally, the company is currently developing a financial wellness app set to launch later this year to help advisors introduce financial planning topics at scale and encourage behavioral change for users. eMoney also plans to debut additional product offerings and new research at its annual summit in October, which brings together industry professionals and thought leaders to discuss the financial planning industry’s unique challenges and solutions in the pipeline.
As of June 2020, eMoney’s team of more than 700 people serves 73,000 financial professionals and more than 4.3 million households. An internal celebration will be held at a Town Hall meeting July 15 to recognize the 20-year milestone and reflect on eMoney’s rich history.
“As we celebrate this exciting milestone, we understand none of this would be possible without our talented team and the support of our clients. We thank them for their continued commitment to eMoney over the years and for their unwavering desire to deliver financial advice using technology and innovation,” said O’Brien.
To get a free trial and see how eMoney can help your firm grow during the next 20 years, please visit: https://bit.ly/38d1W11.
eMoney Advisor, LLC (“eMoney”) provides technology solutions and services that help people talk about money. Rooted in holistic financial planning, eMoney solutions strengthen client relationships, streamline business operations, enhance business development and drive overall growth. More than 70,000 financial professionals across firms of all sizes use the eMoney platform to serve 4 million households throughout the U.S.
Director, Corporate Communications