Commerce Bancorp, a New Jersey-based bank, has acquired eMoney Advsior, for $32 million in stock in a move to expand its online banking and ...

Commerce Bancorp, a New Jersey-based bank, has acquired eMoney Advsior, for $32 million in stock in a move to expand its online banking and wealth management businesses. Commerce said it will use eMoney tools to develop a Web-based product allowing clients to review their financial assets in a single statement. “EMoney Advisor is the premier personal financial management tool in America,” said Vernon Hill, president of Commerce Bank, in a statement. "The new Commerce Bank `Virtual Private Banker' is the next great idea in customer relationships, tying together not only a customer's assets with Commerce, but assets and liabilities with over 3,100 financial providers." EMoney Advisor is based in Conshohocken, Pennsylvania, and counts Massachusetts Mutual Life Insurance., MetLife and PricewaterhouseCoopers among its clients, according to a statement from Commerce. Commerce is New Jersey’s largest bank and operates 375 branches in the New York, Philadelphia and Washington, DC, metropolitan areas and southeast Florida.