Advisor-focused technology companies have found a buyer's market in the wealth management industry, with Envestnet the latest to announce the acquisition of a software developer.
For $30 million, the platform provider acquired financial planning software firm Finance Logix with $24 million in cash and Envestnet stock worth $6.5 million. The Tuscon, Ariz.-based technology company develops financial planning and client engagement tools for banks, broker-dealers and RIA firms.
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