UK wealth manager Quilter buys NuWealth to boost first-time investor support
London-headquartered wealth manager Quilter has acquired NuWealth, a digital investment platform launched in 2019, for an undisclosed sum.
Quilter to acquire NuWealth
NuWealth specialises in democratising market access for novice investors with features including fractional share trading, themed exchange-traded funds (ETFs), and access to a wide range of stocks from the UK, EU and US markets.
Quilter says that upon completion of the deal, it plans to “evolve NuWealth to work with advisers to help them support clients at the start of their investing journey”.
“It will be particularly beneficial for people starting to invest who are looking for additional help and guidance, with the option to work with a financial adviser later in the investing journey,” the company adds.
This expansion of Quilter’s digital capabilities will also bolster its workplace advice function provided by Quilter Financial Advisers, its national advice business, serving affinity advice partners.
“Advisers have been asking us to support them with a proposition for their clients who are just starting out their investment journeys or not yet ready for a full advice offering,” comments Quilter CEO Steven Levin.
“We will evolve NuWealth to help advisers serve these clients, promote the benefit of financial advice and prepare for future regulatory changes in advice and guidance.”
