AdvisorEngine Acquires Junxure to Pair Digital Solutions with Consulting Services

By CIOReview | Wednesday, May 2, 2018
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CRM Software, Inc., also known as Junxure, has been acquired by AdvisorEngine. With the acquisition, the companies will now pair the digital solutions with consulting services to help financial advisors use technology as a competitive advantage.

Junxure has a record of offering industry’s best CRM software with a 98 percent client satisfaction rate, while AdvisorEngine is a FinTech company that is reimagining how technology can serve financial advisors. “The next frontier of innovation within financial services is happening at the intersection of personal relationships, data science and automation—which makes native CRM functionality especially powerful. I am thrilled to bring the companies together while maintaining Junxure's culture of innovation and independence,” says Rich Cancro, Founder, and CEO of AdvisorEngine.

The acquisition of Junxure also boosts AdvisorEngine’s open-architecture ecosystem and helps the firm in connecting distinct technologies, data, and workflows to build a unified user experience. However, the new development would not change anything for Junxure users as they will continue to be supported by the company’s dedicated client success team.

"This combination opens up new possibilities for Junxure clients across prospecting, client engagement, financial planning, portfolio construction, and business operations. Having known Rich for years, I am truly excited about this next chapter for Junxure clients and employees,” said Greg Friedman, Co-founder, and president of Junxure.

Playing an important role in the acquisition is WisdomTree Investments, Inc. The global sponsor company is lending around $30 million of working capital to AdvisorEngine. A major part of WisdomTree’s investment will go to fund the acquisition, while the rest of the amount will be used for future technology development and other growth initiatives.

Jarrett Lilien, Executive Vice President–Head of Emerging Technologies for WisdomTree, expressed his happiness over the development and said that their organization is proud to be part of AdvisorEngine's open-architecture ecosystem. “We see compelling opportunities to help advisors create operational alpha through technology and differentiate investment performance through smart portfolio construction.”