Client onboarding and financial planning capabilities were key motivators
Canadian digital wealth solutions provider Nest Wealth has been acquired by a global top 100 fintech firm.
Objectway, a provider of software-as-a-service and services to banks, wealth and asset managers, sees the addition of Nest Wealth as a milestone in its aim to be the trusted end-to-end global partner for the wealth management industry.
For Nest Wealth, the deal means expanding the reach of its solutions, and was welcomed by founder and CEO Randy Cass.
“This will accelerate our expansion across the North American region, and open up additional market opportunities in EMEA,” he said. “In Objectway, we have found the perfect partner, giving our employees and customers continuity, stability and an exciting future of continuous development to solve their problems.”
Last year, Cass spoke to Wealth Professional about the robo-advisor revolution and the digitization of the wealth management industry in areas including client onboarding, account opening, and portfolio selection.
“The trend is accelerating among the firms where clients have been historically, and continue to be today,” he said. “The challenger brand growth might have slowed, but the digitization of the industry has accelerated and continues to accelerate in 2023.”
Objectway has more than 30 years of business expertise and is headquartered in Milan, Italy, and founder and group CEO Luigi Marciano praised Nest’s capabilities in client onboarding and financial planning in complementing its existing offering.
“The Nest Wealth team has built a remarkable digital wealth platform with an eminent client base,” he said. “This acquisition marks a significant milestone in our growth and global expansion strategy, enabling us to establish and broaden our market presence in North America and to offer an even more comprehensive range of innovative products and services to existing and new customers in both the EMEA and North American regions in which we operate.”
