EMoney Advisor
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| Type of business | Private |
|---|---|
| Founded | 2000 |
| Founder(s) | Edmond Walters |
| President | Jerry L. Johnson |
| CEO | Edmond Walters |
| Industry | Financial Advisory Services |
| Products | eMoney 360 and 360Pro |
| Parent | Commerce Bancorp, then Toronto-Dominion Bank |
| Website | eMoney Advisor |
eMoney Advisor is an online financial planning services company. It was founded in 2000 and purchased by Commerce Bancorp in 2006, and eMoney became a division of Bancorp. The company's main products are the eMoney 360 and 360Pro software suites.
History[edit]
The company was founded by financial planner Edmond Walters in 2000. The company was headquartered in Conshohocken, Pennsylvania, using $2.5 million in start-up money acquired from his former clients. The website is used by financial planners as a technological support structure. In December 2001 Jerry L. Johnson became president of the company, at which point the company had taken on about forty financial institutions as clients.[1][2]
By the end of 2003 the company had approximately $5 million in revenues and 2200 clients.[3] Walters has served as the CEO continuously since the company's founding,[4] though the company was sold by Walters in January 2006 for $32 million in stock to Commerce Bancorp. At this point the company has about 3,100 client financial providers.[5][6] By the end of 2006 about 20,000 advisors used the system, with approximately $110 billion in client assets.[7] Commerce Bancorp itself was purchased by Toronto-Dominion Bank in 2008.[8]
Business overview[edit]
eMoney Advisor uses technology and the Internet to augment the service provided by financial advisors.[9] Accounting Today has written that the company offers, "[A] consolidated view of a client's financial portfolio, including a customer financial home page, daily aggregation of all financial assets, daily updated financial statements, asset allocation tools, daily alerts and a Web-based storage vault of personal documents."[10] The first software the company developed was called AdvisorPlatform, and by 2004 the software was being used to manage $25 billion in assets.[11]
In May 2007 eMoney launched a website for mobile devices[12] and in 2008 the company launched a mobile app in order to connect financial advisors to their customer accounts directly over their mobile devices via their eMoney software licenses. By this point the eMoney software included the software suites eMoney 360 and 360Pro.[13] Financial Advisor Magazine defined the difference between the two by writing that, "eMoney 360 Pro is designed for sophisticated advisors who are fee-based or fee-only and deliver comprehensive financial planning to high-net-worth clients. eMoney 360 is built for more sales-oriented organizations or those that are primarily product-oriented and commission-based." The company redesigned its website in 2012 under web architect Jon Wagner.[14]
References[edit]
- ↑ Gwen Morgan (October 1, 2008). "On the Side". Financial Planning. Retrieved July 2, 2013.
- ↑ Peter Key (October 14, 2002). "eMoney's help on the Web". Philadelphia Business Journal. Retrieved July 3, 2013.
- ↑ Adam Stone (August 30, 2004). "eMoney on fast track". Philadelphia Business Journal. Retrieved July 2, 2013.
- ↑ "Earth Day: Quick Tech Tips to a Greener Practice". Financial Planning. April 22, 2013. Retrieved July 2, 2013.
- ↑ "Commerce Bancorp finishes eMoney purchase". Philadelphia Business Journal. February 24, 2006. Retrieved July 2, 2013.
- ↑ Jeff Blumenthal (January 4, 2006). "Commerce Bancorp buys eMoney Advisor". Philadelphia Business Journal. Retrieved July 2, 2013.
- ↑ "More Than Just Account Aggregation". Advisor One. December 1, 2006. Retrieved July 2, 2013.
- ↑ "Company History". Retrieved July 3, 2013.
- ↑ John Sullivan (May 24, 2013). "Ignore the Talking Baby and the Green Line, eMoney Advisor Warns Investors". Advisor One. Retrieved July 2, 2013.
- ↑ Cherry Hill (January 6, 2006). "Commerce Bank Acquires eMoney Advisor". Accounting Today. Retrieved July 2, 2013.
- ↑ Peter Key (July 19, 2004). "AdvisorPlatform jumps to the level of $25B". Philadelphia Business Journal. Retrieved July 3, 2013.
- ↑ Antoinnete Alexander (September 1, 2008). "Webbed Planning". Accounting Today. Retrieved July 2, 2013.
- ↑ Dan Butcher (December 24, 2008). "EMoney Advisor launches iPhone app". Mobile Marketer. Retrieved July 2, 2013.
- ↑ Joel Bruckenstein (March 30, 2012). "Upping their Game". Financial Advisor Magazine. Retrieved July 2, 2013.
External links[edit]
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