Changes that eMoney Advisor made to offer cheaper, less complex planning tools for some advisers early this year helped the fintech firm that's backed by Fidelity Investments achieve record revenue growth this year.
That move, along with an industry-wide growth in planning-centric advice, led more firms to adopt eMoney services and led to a 31% increase in revenue year over year, said Ed O'Brien, eMoney's chief executive since March.
Revenue has increased at the Radnor, Penn.-based firm nearly 59% since eMoney was acquired by Fidelity in February 2015. It's added about 17,000 new users since then, said the firm, which did not disclose profits.
“The advice industry in general is getting more serious about engaging clients with planning and leading with planning,” he said. “Our technology comes with everything an adviser needs to build a financial plan.”
Early in 2016, eMoney unbundled its platform for advisers so they can choose to buy three different levels of its planning and client-facing tools. The cost ranges from $162 per month per user to $324 per month per user, according to the firm.
During the first half of 2017, the firm will introduce its digital planning tools with Fidelity, it's so-called robo adviser platform, so advisers can automate its client experience for some customers, Mr. O'Brien said.
It also plans to unveil next year lead generation tools for advisers that will be able to deploy automated multimedia campaigns and personalized communications with metrics reporting. It's tentatively called Advisor Branded Marketing, the firm said.