Walters steps down as CEO of eMoney Advisor

Tom Paine

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Edmond Walters, the Main Line investment advisor who founded eMoney Advisor, the Conshohocken-based invetment management software firm that was sold to Fidelity for an estimated $250 million in February, has resigned effective immediately, Fidelity announced today.

Edmond Walters / LinkedIn

Michael Durbin, the president of Fidelity Wealth Technologies, will serve as interim CEO.

The publication Investment News cited sources suggesting that Walter's resignation was not the typical post acquisition, pre-planned succession, but rather a decision by Walters based upon fundamental differences in strategic vision. One of them could be Walter's desire to maintain an open architecture in which eMoney's tools would continue to be available to Fidelity competitors, versus Fidelity desiring to keep the product more to itself.

eMoney's website says it now has 328 employees.