News, Vision & Voice for the Advisory Community


What to make of Fidelity Investments paying $250 million out of the blue for eMoney

The price paid is about right, experts say, but in the hands of the giant, it could be worth more -- or less

Author Brooke Southall February 12, 2015 at 6:06 AM
no description available
Edmond Walters: We've integrated MoneyGuidePro. People say they are our competition. We don't care.

Related Moves

Orion names 'left-brained' Natalie Wolfsen as CEO to replace Eric Clarke, and AssetMark, which synchronized its announcement, hires Michael Kim as her replacement

Orion Chairman Charles Goldman again lures his protege to self-replace, while Michael Kim was 'integral to AssetMark’s record financial performance over the past several years'

September 8, 2023 at 11:58 PM

Biz Briefs: AdvicePay waives key hiring requirement to land its next CEO • ESG firms may get OK in Oklahoma • eMoney adds new chiefs • CFP Board names new chair-elect • Robinhood cuts more staff

Alan Moore replaces himself with another guy with two respectable titles • eMoney promotes two • Moisand's third in line now known • Robinhood sacks 173 in year-to-date.

July 26, 2023 at 2:34 AM

Biz Briefs: The sorry scene at my local First Republic branch • Schwab launches new (smaller) lay-off round • Schwab hoovers pennies passing FINRA fee to clients • Gensler pleas for funds • Fidelity owner's private equity pres. retires • an Orion-Envestnet staff switcheroo • LPL dumps FutureAdvisor

Range Rovers screeched in and drivers joined a grim queue to get their cash, and cookie • The Schwab-TDA deal cull count now stands at roughly 3.5% of its staff • FMR's hockey star president has stepped down • SEC chief wants more enforcers • An Envestnet executive proves joining a rival is good business • LPL now has an in-house robot.

April 29, 2023 at 1:36 AM

Fidelity will hire 4,000 staff in first half -- a staggering number but a tapering off from 'unprecedented' rate in 2021-2022 that catapulted it to 68,000 employees

The $10.3 trillion giant explains its hiring -- in a layoff environment -- as an RIA-like goal, namely having the human bandwidth to develop 'lifetime' relationships with its 40 million investors

February 17, 2023 at 2:49 AM

See more related moves

Mentioned in this article:

LPL Financial
RIA-Friendly Broker-Dealer, RIA Welcoming Breakaways, Advisory Firm
Top Executive: Dan Arnold

eMoney Advisor LLC
Financial Planning Software
Top Executive: Edward O’Brien

United Capital Financial Advisers
RIA Welcoming Breakaways
Top Executive: Joe Duran

Technology Tools for Today
Consulting Firm
Top Executive: Joel Bruckenstein

Consulting Firm
Top Executive: Michael Kitces



February 17, 2015 — 8:36 PM

First off, eMoney was maybe at best a $40million in revenue company. That puts the multiple much higher. Second, they were put up for sale by Guardian. They went to Investment Bankers and said send me the best deal, auction like. Third, Neesha at Schwab is correct, Fidelity is playing catch up. Fourth, Fidelity needed a client dashboard and the planning tool was a benefit. Schwab did something like 100,000 or more financial plans last year. Finally, the data is Fidelity’s now. There’s nothing unethical about them looking at all the data that they just purchased. Take it as opinion or an industry expert giving his two cents.

The best part about all of this is eventually the client will win in the end. And I believe that’s what we’re in business for, to help the client.

brooke southall

brooke southall

February 17, 2015 — 9:13 PM


Thanks for all of those thoughts.

When you say that Neesha is right in her assertion that Fidelity is 20 years behind, do you mean
in terms of planning software or in terms of having an eMoney-like view of assets?





February 18, 2015 — 2:02 PM

I wouldn’t agree that Fidelity is 20 years behind, I believe they are only behind on the robo feature and aggregation. They have to play catch up with Schwab and Vangaurd. The relationship with Betterment Institutional and Jemstep help, but it’s not the same. They need to turn eMoney into that robo for retail clients and offer their funds at a zero trade or lower the expense ratio. Also, I believe the Wealthfronts and others will struggle to compete long term with Schwab and Vanguard. Only time will tell. Anyone have a crystal ball?


RIABiz Directory

The Industry Sourcebook for RIAs

   |    LISTING

RIABiz Directory sponsored by:

Directory Sponsor Logo