BizEquity and eMoney team up on offering for financial advisors

Source: BizEquity

BizEquity, the world’s leading online provider of business valuation knowledge and big data, today announces that it has signed a strategic partnership with eMoney Advisor LLC (eMoney), the leading provider of advanced wealth-planning solutions for financial advisors.

The agreement will result in BizEquity’s patented ‘Advisor Office’ business valuation service being integrated as part of the emX Select dashboard within eMoney’s emX wealth management system, as the wealth management technology firm continues development of its integration offerings. eMoney’s platform is currently used by nearly 30,000 financial professionals—including 46 of the top 50 Broker-Dealers and 50% of the leading insurance companies in the US, as well as an extensive network of independent RIAs, banks and planning professionals— and aggregates more than $1.6 trillion dollars in assets.

BizEquity’s ‘Advisor Office’ service harnesses sophisticated big data knowledge to help financial, investment and insurance professionals care for their existing clients, by being able to deliver a full picture of their financial profile to ensure proper estate planning. Additionally, BizEquity offers a prospecting search feature within Advisor Office which allows advisors to search for their most promising prospects and to arm them with the ability to deliver business value and performance insights on-demand.

The eMoney emX platform, which will now include BizEquity’s ‘Advisor Office’ service as an available integration, supports a network of financial professionals serving more than one million end-clients across all fifty US states. eMoney’s software provides an unmatched interactive wealth-management experience for advisors and their clients by combining award-winning technology with resources that enable advisors to foster deep and lasting client relationships. The platform has been tailored to suit a range of financial professionals from individuals and RIA offices to institutions and banks which are looking for an enterprise-wide solution.

Through integrating BizEquity’s patented ‘Advisor Office’ service the emX platform will offer an enhanced and more comprehensive set of tools to help financial professionals compete in the increasingly technologically advanced advisory market.

Over the past 36 months, the traditional market for existing offline financial advisory services has been challenged by a new breed of ‘robo-advisors’ providing largely online, automated, portfolio management and investment advice, and direct online insurance offerings. As a result, many wealth managers, financial advisors and insurance professionals are increasingly looking for cloud based big data tools and services, such as business valuations and company performance analysis, to help remain competitive and offer their clients a full depth and breadth of advisory services.

Furthermore with 10 million businesses expected to change ownership over the next 10 years, and many business owners planning retirement based on the sale of their company, business valuation knowledge is a vital service for financial institutions and advisors to provide.

BizEquity has already signed agreements with over 80 financial institutions globally, including leading wealth management firms, financial advisors and international banks, including Metro Bank US, Dynasty Financial Partners in New York; and one of the UK’s largest wealth management firms.

Globally the business valuation industry is also set for accelerated growth and the market opportunity is significant with some 200 million businesses worldwide and over 98% of them failing to value themselves annually, largely due to the time and cost constraints. BizEquity is an excellent example of the fast-paced expansion of the global FinTech sector. International investments in FinTech ventures tripled from $4.05 billion in 2013 to $12.2 billion in 2014 and this shows no sign of slowing in 2015.

Michael M. Carter, Founder and CEO of BizEquity, commented:

“BizEquity is proud to partner with eMoney Advisor. eMoney has nearly 30,000 of the most innovative financial and insurance professionals on their platform and we are delighted that our ‘Advisor Office’ online service will become a part of the emX platform as the company continues to innovate and enhance its service offering.”

Kyle Wharton, Senior Vice President, Business Development at eMoney, commented:

“At eMoney, we’re committed to helping our advisors win through innovation and technology. By integrating BizEquity’s valuation service into our emX Select offering, we’re taking another step toward delivering the complete range of applications and tools that advisors need to be successful, all within one comprehensive platform.” 

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