Vanare Raises $20 Million Series A

NEW YORK — Vanare, a digital wealth management technology platform, announced it has secured $20 million in Series A financing. The strategic investment was made by WisdomTree Investments.

Vanare will also change its name to AdvisorEngine, to better describe the company’s vision to empower advisors using integrated technology across the full client spectrum, ranging from high net-worth clients to lower balance relationships.

WisdomTree and AdvisorEngine have also entered into a strategic agreement where WisdomTree’s asset allocation models will be made available through AdvisorEngine’s open architecture platform and WisdomTree will actively introduce the platform to its deep distribution network.  AdvisorEngine will allow advisors to more effectively serve their clients and scale their business.

Jonathan Steinberg, WisdomTree CEO and President, said, “The end-investor experience is being revolutionized by new technologies and new investment products like ETFs.  Forward-thinking financial institutions have an opportunity to thrive in this changing environment. AdvisorEngine’s expertise in B2B digital advice makes it a natural choice for these firms.”

Rich Cancro, AdvisorEngine Founder and Chief Executive Officer, said, “The name change of Vanare to AdvisorEngine underscores the company’s vision to empower advisors using integrated technology across the full client spectrum, ranging from high net worth clients to lower balance relationships.”