Forced to reconcile with the growth of automated and cheaper robo advisor services, the traditional wealth management industry has turned to technology to keep its high-touch, high-net-worth-focused approach relevant.

Financial advisor platform and service provider Envestnet is taking the acquisition route, spending an estimated $32 million on financial technology companies Finance Logix and Upside -- a bet that the best wealth management model combines human advisor-client relationships with the latest technology.

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