Jeff Mello is latest to join eMoney's talent exodus but CEO Ed O'Brien says it's healthy renewal at a firm that added several hundred people since Fidelity bought it

Are we really having this discussion? Imagine that, Fido interfering with a well-oiled machine it acquired. Who'd a thunk it? Sanity made bets on Fido's power of reason. It had the luxury of observing Schwab's failed decades long love affair with software development and divestiture of those assets. Sanity lost the bet. The billions of dollars Fido poured into three decades of failed software development could have funded all wealthtech startups since then. Just imagine how far ahead of all its competitors it would be. All systems normal. Full steam ahead. Here we go off the cliff of reason into the swamp of hubris. JLL

Two quick comments. Before eMoney was acquired the majority of the employees had little to no experience in finance or technology. You can see this on their LinkedIn profiles... again I said the majority not all. I see some of these former eMoney employees at other companies such as Riskalyze and Orion and shake my head as to why these reputable companies would hire these people with eMoney and Starbucks on their resumes. But that’s my opinion. Second, as stated in this article they over hired and needEd to trim the fat... same as Riskalyze did last year when they let go of 100 employees. It’s a smart move to hire and see how fast you can grow and then when you hit your goals and sales start to slow to cut back and focus on retention. eMoney will continue to dominate... more so now that MGP is part of envestment. Walters is trying to go after eMoney with his new product but I saw what he built and it’s old technology... he should have consulted with younger entrepreneurs and developers outside of the industry. Again, my opinion.