FMG, a marketing technology company for financial advisors, has bought Vestorly, a content management engine that, the company says, applies artificial intelligence to curate personalized content for advisors to push out to their clients.
“Vestorly pioneered the use of artificial intelligence to help financial advisors create an engaging and personalized content experience for their clients and prospects," said Scott White, CEO of FMG, in a statement. "We’re excited to enhance our AI capabilities through this acquisition and look forward to expanding the functionality available to Vestorly's customers by leveraging the full FMG platform. With the integration of this technology, we can apply AI to every aspect of advisor marketing.”
FMG already uses AI in its Curator tool, which automatically populates an advisor’s social media feed with content based on personal preferences. But Vestorly will help scale those personalization capabilities, and apply AI to other products and features, according to the company.
The deal represents FMG’s seventh acquisition in six years. That includes MarketingPro, Platinum Advisor Strategies and, most recently, Twenty Over Ten. In May, FMG rebranded from FMG Suite, and started to offer its marketing and website products separately.
Last September, the martech company tapped Susan Theder, former chief marketing officer at Advisor Group, as chief marketing and experience officer.
Vestorly was founded in 2011 by Justin Wisz and Ralph Pahlmeyer, raising over $2 million in early seed financing backed by AlphaPrime Ventures, Gaspar Global Ventures and Formation 8, the venture capital fund of Addepar’s Joe Lonsdale.
Wisz was named one of WealthManagement.com’s Ten to Watch in 2015, but left the company in 2018 to join venture capital firm RTP Ventures. Pahlmeyer has served as CEO since his departure.