FNZ, a New Zealand-based wealth management platform, has raised $1.4 billion in new equity funding from Canada Pension Plan Investment Board (CPP Investments) and Motive Partners. Through the new fundraising round, the Kiwi financial services company has taken its valuation to more than $20 billion. Currently, FNZ is said to work with more than 650 […]
Bluespring Wealth Partners, a subsidiary of Kestra Holdings, has acquired Security Financial Management, a wealth management advisor in Florida and Minnesota, for an undisclosed price. Founded more than three decades ago by Dave Allen and Frank Lovaglio, Security Financial Management has over 15 financial professionals. It has three offices in Florida and one in Minnesota […]
PureFacts Financial Solutions, a Canada-based wealthtech solutions provider, has secured CAD 37 million ($28.69 million) in a funding round that saw the participation of Canadian Business Growth Fund (CBGF), Round13 Capital, and The Bank of Nova Scotia. The wealthtech company plans to use the proceeds from the funding round for expediting product development and for […]
SIMON Markets, a US-based fintech company that was spun out by Goldman Sachs in late 2018, has raised $100 million in a Series B funding round for its digital wealth management platform. The Series B funding round was led by growth equity firm WestCap. Existing investors of SIMON Markets also took part in the financing […]
Danske Bank has agreed to sell its international private banking activities in Luxembourg operating as Danske Bank International (DBI) to Switzerland-based Union Bancaire Privée (UBP). The Danish banking group expects the sale to give it a one-off gain of nearly DKK 250 million ($39.89 million). Danske Bank said that the transaction represents its efforts to […]
Intellect Design Arena said that its insurtech business Intellect SEEC has been selected by UK-based St. James’s Place (SJP) Wealth Management as the strategic artificial intelligence (AI) transformation partner for its investment unit. St. James’s Place is one of the major wealth management organisations in the UK. It offers advice to clients based on their […]
Zensar Technologies, a subsidiary of RPG Group, has been selected by UK-based fintech company Infinity Circle for end-to-end development of the latter’s next-gen wealth management platform. Infinity Circle is aiming to simplify wealth management via innovation, excellence in customer experience, and 100% digital-enabled secure transactions. Zensar Technologies will play the role of its design and […]
Steward Partners, a US-based wealth management firm, has completed its acquisition of Umpqua Investments, a registered broker dealer and registered investment adviser, from Umpqua Holdings. The combined entity has been renamed Steward Partners Investment Solutions. According to Steward Partners, the acquisition marks its planned growth into the Pacific Northwest. It has added 22 financial advisors, […]
Utmost Group Limited, a specialist life assurance group, has agreed to acquire Isle of Man-based investment platform provider Quilter International for around £483m in cash. Quilter International provides cross-border investment solutions. The company, which is currently owned by Quilter plc, mainly caters to affluent and high net worth British residents looking to invest outside of […]
Fidelity D & D Bancorp has agreed to acquire rival Pennsylvania-based bank holding company Landmark Bancorp in a cash-cum-stock deal worth $43.4 million. Landmark Bancorp is the holding company of Landmark Community Bank, a community bank based in Pittston. Landmark Community Bank offers commercial banking services via five bank centers in Luzerne and Lackawanna counties. […]