This acquisition says a lot about Fidelity's tech strategy and shows that the firm is paying attention to the opportunities that embracing technology in the financial advising space brings. Robo-advisors such as Betterment and Wealthfront have shown that consumers want a seamless, digital solution for managing their portfolios. eMoney and their competitors have shown that financial advisors need the same.
Conshohocken, Pa.-based eMoney makes a popular software platform used by 46 of the nation's top 50 broker-dealers and 25,000 employees of banks and registered investment advisory firms, including those affiliated with Fidelity's arch rivals in the custodial business.