Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Has WisdomTree Found an Outside Engine For Advisor Distro? Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, November 21, 2016

Has WisdomTree Found an Outside Engine For Advisor Distro?

News summary by MFWire's editors

Another roboadvisor just landed an asset manager as a backer ... only this time it's a private label roboadvisor receiving the cash and a pure-play, publicly-traded ETF shop that's buying in.

Rich Cancro
AdvisorEngine
CEO & Founder
Today Jonathan Steinberg, president and CEO of WisdomTree [profile], confirms that his New York City-based shop has shelled out $20 million for a 36-percent equity interest in the two-year-old private label roboadvisor that has been known as Vanare. And Vanare also rebranded itself as AdvisorEngine and revamped its online presence.

AdvisorEngine and WisdomTree have also sealed a two-way distribution deal that will involve AdvisorEngine making WisdomTree's asset allocation models available on the platform while WisdomTree pushes AdvisorEngine out to the ETF shop's distribution network.

This is Vanare's Series A financing round, and SenaHill Securities served as AdvisorEngine's financial and strategic advisor on the deal. ETF.com and InvestmentNews reported on the deal.

While some roboadvisors are building out retail brands and distribution, AdvisorEngine founder and CEO Rich Cancro and his team have chosen a more under-the-radar, B2B approach. AdvisorEngine offers broker-dealers, RIAs, and other financial services firms a customizable roboadvisor chassis that they can use for their advisors.

Though WisdomTree now owns more than a third of AdvisorEngine, Cancro stresses that the deal will help the startup "grow as an independent, open architecture firm." Steinberg calls AdvisorEngine "a natural choice" for "forward-thinking institutions" to team up with in a changing wealth management environment. 

Edited by: Neil Anderson, Managing Editor


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly


  1. MFDF Director Discussion Series - Open Forum via Zoom, December 7
  2. 2022 MMI Leadership Pathway Seminar, December 7
  3. 2022 Samfund Annual Celebration, December 7
  4. IMEA In Session - Cyber Security Trends, December 8
  5. U.S. Securities and Exchange Commission Investor Advisory Committee meeting, December 8
  6. MFDF webinar - Investment Valuation and Governance: Deloitte's 20th Annual Fair Valuation Pricing Survey, December 8
  7. Women in ETFs Philadelphia - Holiday Happy Hour With Project Home, December 8
  8. MMI webinar - Defining & Stimulating the Client Experience, December 9
  9. US SIF media webinar: US Sustainable Investing Trends 2022, December 12
  10. Vett Fi Advisor Perspectives Investment Insights Summit 2022, December 13
  11. IDC webinar - Spotlight on the SEC's Swing Pricing and Hard Close Proposals, December 14
  12. 2022 MMI Webinar Sponsored by the MMI Blockchain Finance Forum: Digital Asset Classification, December 14
  13. WE Boston: Annual Give Back Event 2022, December 14
  14. MFDF In Focus: Closed-End Fund Activism, December 14
  15. Crane Data's Money Fund University, Dec 15-16
  16. Crane Data's Holiday Cocktail Party, December 15
  17. MFDF webinar - Impact of 2022 Mid-Term Elections on the Financial Industry, January 10, 2023
  18. IDC's Foundations for Fund Directors, January 11 - 12, 2023
  19. MFDF 2023 Directors' Institute, January 23 - 25, 2023
  20. Exchange: an ETF Experience, February 5 - 8, 2023
  21. 8th Annual Expect Miracles in Manhattan, February 16, 2023
  22. MFDF webinar - Fund Industry Claims Trends: An Insurer's Perspective, March 1, 2023
  23. MFDF 2023 Fund Governance & Regulatory Insights Conference, March 9 - 10, 2023
  24. Crane Data's Bond Fund Symposium, March 23 - 24, 2023
  25. 2023 MMI Summit, March 29 - 30, 2023
  26. 34th Sub-Advised Funds Forum, April 3 - 4, 2023




©All rights reserved to InvestmentWires, Inc. 1997-2022
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use