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Financial acquires a robot-advisor

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Writing

7 January 2019 11:30

Photo : Freepik

Financial IT announced on December 14 it had reached an agreement under which Financial IT will acquire a majority stake in WealthBar, a platform for wealth management and financial planning online.

“WealthBar has developed a platform board digital of the first order, with tools and advanced services and an exceptional customer experience, pointed out Peter W. Anderson, chief executive officer of CI Financial. The addition of this technology and this expertise will accelerate the development of the digital strategy overall, is focused on innovation, operational efficiency, advisor productivity and client experience of all of our activities, asset management and wealth management. “

Support advisors with a platform

CI Financial says that this acquisition will broaden the range of services and platforms it provides to investors and advisors. “For example, we see a considerable potential to provide advisors with the option of a digital platform to serve their customers,” said Anderson.

“We firmly believe that investors benefit from the advice of a professional financial adviser. In supporting advisers with a platform to engage them at all stages of their wealth management, we foster a relationship that grows as the need of a council of investors grows. “

“We are thrilled to participate in this strategic partnership, said Tea Nicola, co-founder and ceo of WealthBar. Financial is a strong company. Their independence and objectivity has largely motivated our decision to choose them as partners. Since its creation in 2014, WealthBar has experienced a rapid growth. The support of CI and its resources will allow us to take a different path for our growth. We also see many interesting opportunities for the development of new platforms and innovative services within the Financial group. “

WealthBar will continue to operate as an independent company under the direction of Tea Nicola, Chris Nicola and Neville Joanes, which all retain a stake in the company.

The transaction is expected to conclude in January 2019. The terms were not disclosed.

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