NEW YORK, Nov. 18, 2016 /PRNewswire/ -- 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.
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SOURCE Vanare