FNZ, the wealth management platform, has agreed to acquire YieldX, the US-based provider of fixed income portfolio management technology, optimisation services and direct indexing tools for the wealth management industry.
YieldX’s digital infrastructure and technology solutions will be integrated into FNZ’s wealth platform, helping clients to scan a universe of fixed-income opportunities globally, and identify outcomes that mirror their desired term and yield, based on their risk profile.
The acquisition is hoped to support FNZ’s mission to deliver personalised investment solutions to in the wealth management industry, providing a wider range of investment options at scale to end investors.
Founded by Adam Green and Steve Gross in 2019, YieldX is based in Miami and has an office in New York. It services a wide range of clients, from top-tier wealth and asset managers, to B2C financial services and technology providers operating across the globe.
Following the acquisition, Adam Green will join FNZ as CEO of asset management, and Steve Gross will join FNZ as head of asset management strategy. Together with the senior leadership team, they will support the broader expansion efforts for asset management products, solutions, and technology across North America.
Today, FNZ administers more than US$1.5 trillion in client assets representing over 20 million investors worldwide. It partners with over 650 large financial institutions and 8,000 wealth management firms in 21 countries, including abrdn, Barclays, Colonial First State, Envestnet, Generali, Lloyds Bank, Santander, and Vanguard.
Tom Chard, CEO North America, FNZ, said, “We have a joint vision of opening up wealth by transforming the wealth management industry through more transparent, accessible, and personalised technology solutions. YieldX’s solutions perfectly complement our existing strengths and will further differentiate our offering for the benefit of all clients. The acquisition also provides a unique opportunity to accelerate our growth and presence in the US as we continue to add market leading capabilities to our global wealth platform. We’re incredibly pleased to welcome Adam and Steve, as well as the wider YieldX team to FNZ. Like us they are highly innovative, customer obsessed and are an invaluable addition to our team.”
Adam Green, co-founder and CEO of YieldX, said, “The demand for digital, personalised fixed income solutions has skyrocketed over the last year as yields have risen. Pairing our capabilities with the world-class platform and team at FNZ will allow us to accelerate and scale the delivery of our solutions.”
©Markets Media Europe, 2023
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