“AdvisorEngine will continue to be an open architecture platform with key integrations to other financial planning tools, as CRMs and planning tools are often very personal to the advisor,” the firm’s founder and chief executive, Rich Cancro, said.

The acquisition should accelerate AdvisorEngine’s growth journey by incorporating elements of goals-based financial planning and advisor marketing tools, according to Joel Bruckenstein, a financial technology expert.

The move comes after WisdomTree's $20 million equity investment in AdvisorEngine, formerly called Vanare, in November last year.