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

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

Related Moves

Five RIA Doubletakes: An RIA-only law firm breaks away • Kitces launches picker of 'best of breed' RIA software bundles • Vanguard targets 2070 just as media targets TDFs • SEC fishing for RegBI Scofflaws, including RIAs • CFP appoints first African-American chair

RIA Lawyers will reject RIA custodians• Kitces Nascar montage is now interactive and helpful • Vanguard's super long TDF draws critics• SEC supply lines are stretched with new battle front • Kamila Elliot is ex-DFA, diverse and calling CFP shots

January 12, 2022 – 3:13 AM

Envestnet and Edmond Walters end odd couple 'Apprise' relationship with buyout, but leave open the door to jointly pursue RIA-to-entrepreneur dashboard... later

The MoneyGuidePro owner and eMoney founder execute clean break with Apprise IP rebranded as 'Wealth Studio.' Walters off to the races with a startup and vague promise to collaborate later.

April 6, 2021 – 12:50 AM

Fidelity Investments loses Kathleen Murphy who largely caught up Fido to Schwab (near $4T) on the retail side by reversing net promoter scores

The 'no whining allowed' leader of the Boston giant's retail business, who oversaw $2 trillion in net new assets, was ready to exit but hung in through a year dominated by COVID-19 challenges

January 23, 2021 – 2:02 AM

How a white senior vice president at an LPL OSJ came to hire a former black minister as recruiter despite the latter's pledge to make it 'uncomfortable' at times

Rob Sandrew hit it off with Keith L. Frasier, willing to speak up on racial and racial justice issues, who also checks all the boxes for attracting talent and assets at a firm that recruited $2 billion last year

August 19, 2020 – 2:18 AM

See more related moves

Mentioned in this article:

LPL Financial
Asset Custodian
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