Commerce Bancorp Inc., parent to some 375 Commerce Bank branches in the New York, Philadelphia and Southeast Florida markets, has acquired online wealth manager eMoney Advisor for $32 million. Based in Conshohocken, Pa., eMoney Advisor and its proprietary AdvisorPlatform is employed by both advisors serving high-net-worth clients and financial institutions such as Massachusetts Mutual Life Insurance Co., Guardian Life, Big Four firm PricewaterhouseCoopers, New England Financial and MetLife.
Commerce said that the purchase of eMoney will enable it to develop a Web-based aggregated financial system for its customers.
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