eMoney hits R.I. tax-incentive jobs mark a year early

PROVIDENCE 2019--PROVIDENCE -- Government leaders in Rhode Island and officials of a Pennsylvania-based financial technology company are scheduled to celebrate a milestone for the company on Monday: reaching 100 employees a year earlier than promised.

When eMoney came to Providence in 2017, it promised to hire 100 people by 2020. Now, in the first half of 2019, the company already has 110 workers. "We're just getting started," said chief executive Edward O'Brien. "I think we'll continue to aggressively grow." He predicted employment of 130 to 140 by the end of this year.

The growth will be aided by new, larger offices at 100 Westminster St., with a ceremonial opening scheduled for 11 a.m. Monday, to be attended by company officials, Gov. Gina Raimondo and Providence Mayor Jorge Elorza.

The 23,000-square-foot space will accommodate 200, but the actual number of Providence-based workers could be higher than that because they can do their work remotely and, with flexible scheduling, more than one employee can work from a given work station.

The company creates software that is used by financial planning professionals, O'Brien told The Providence Journal in an interview last week. "Our software is designed to help advisers work directly with their clients."

Financial advisers can connect digitally with their clients through eMoney software and show them in real-time how different life decisions could affect financial plans, such as retiring at age 62 instead of 65.

"We have advisers who meet with clients any time of day, any day of the week. Geographic location is not as important anymore," O'Brien said. "The adviser can show you in real time while you're sitting in your living room."

When eMoney was looking to expand in 2017, it had two offices: a headquarters in Radnor, Pennsylvania, just outside Philadelphia, and an office in San Diego.

O'Brien said the company chose Providence because it's a good place to live and work and because it's a good source of talent, especially from colleges such as the University of Rhode Island, Bryant University and the Rhode Island School of Design.

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