eMoney has grown 30% in licensed revenue in the past year, and 35% in number of associates.
According to eMoney CEO Ed O’Brien, the company has just under 400 empolyees today.
“It’s tremendous growth, especially when you look at financial services in the aggregate for the past year. I think we’re sort of against the trend,” O’Brien said during a visit to ThinkAdvisor’s offices.
In the last five years, the financial services sector overall has grown 10.12% in net income and 12.28% in revenues, according to the NYU Stern School of Business.
In mid-March of this year, eMoney Advisor named O’Brien as its new CEO. Prior to that, eMoney was acquired by Fidelity in February 2015.
“It’s been a great six weeks,” OBrien told ThinkAdvisor. “The company itself I couldn’t be more proud of, and reinforces that I made a great decision to join eMoney.”
According to Drew DiMarino, senior vice president of sales at eMoney who was at the interview, one reason eMoney has experienced exponential growth is because there’s been a shift regarding technology in the industry.
“Why are we in this exponential and explosive growth phase?” DiMarino said. “Because major firms that were building technology to support the advisor-client relationship realized, ‘We should really focus on our core competencies, take our technology/development team [and] focus them internally on what is core to us, and then work with a firm like eMoney.’”
eMoney offers an emX platform with three product solutions – emX Pro, emX and emX Select – that gives an advisor access to all their services from one screen with one login. Depending on the advisor’s needs, emX offers tools that include aggregation, third-party integration, mobile web-app for clients, and interactive financial planning capabilities.