Waddell & Reed Partners With eMoney Advisor To Complete Technology Strategy

Tom Burroughes

8 July 2016

Waddell & Reed, the US financial planning firm, and eMoney Advisor, a technology-driven wealth firm, have partnered to provide digital planning services via eMoney’s emX Pro solution.

The agreement is part of Waddell & Reed’s strategy to deliver technology solutions to its roster of more than 1,800 professionals in its network.

The offering is part of moves by firms to manage costs, remain relevant and comply with changes such as the Department of Labor’s Fiduciary Rule.

The emX Pro offering includes a range of interactive wealth-management tools that enable advisors to support basic and advanced financial planning needs and better identify business opportunities, the firm said in a statement yesterday.

The move comes after Waddell & Reed in February announced a strategic partnership bringing Envestnet, and Docupace Technologies together to create a custom platform that will help Waddell & Reed financial advisors open and manage client accounts.

“eMoney rounds out our fully integrated solution and will further enhance Waddell & Reed’s financial planning culture,” Matthew Reeves, senior vice president of advisory products and services at Waddell & Reed, said. “Through our work with eMoney, Envestnet and Docupace, we will support all components of an advisor’s practice and their ability to seamlessly transition from financial plan to investment proposal and ultimately straight-through to account opening.”

Founded in 1937, Waddell & Reed, Inc. is one of the oldest financial planning firms in the US and is a subsidiary of Waddell & Reed Financial, which had assets under management of approximately $95 billion at March 31.