With cash burn high, WisdomTree offloads AdvisorEngine onto white knight, Franklin Templeton -- which could score big with forgotten Junxure
Franklin CEO Jenny Johnson is taking the San Mateo, Calif., fund firm on an M&A tear of RIAs and RIA software and asset managers, with Legg Mason already under contract.
Author Oisin Breen
May 7, 2020 at 2:51 AM
May 8, 2020 — 7:19 PM
Well, at least that's part of the way in the right direction. Problem is all of these product companies are still focused on using technology to sell products (Mutual Funds, ETFs, etc.). Trying to fit yet another generic technology solution into the intermediary channel. Too many already exist and no one wants to be beholden to a single financial product company. Instead, they should be using technology to solve higher order problems (ie. Saving for retirement, income in retirement, etc.) and positioning not at advisors, but to the mass market. New "financial products" could then stem from that. Just sayin'