Finextra: Vanare Acquires NestEgg for Robo-Wealth Management

Finextra | Source: Vanare Press Release

Vanare, a next-generation wealth management technology platform for investment advisors, announced today the acquisition of NestEgg Wealth to launch the first ever offering that completely integrates online wealth management with traditional wealth management in one seamless solution.

Vanare's innovative platform offers Registered Investment Advisors (RIAs) and their clients a comprehensive, interactive and intuitive experience.

With Vanare's acquisition of NestEgg, a pioneering private-label online wealth management platform, Vanare adds an easily-customized digital advice offering for RIAs to offer to clients based on their firm's investment philosophy. RIAs no longer have to choose between focusing on their existing practice and competing with Roboadvisors. Vanare's combined platform empowers the advisor to seamlessly connect with their clients through the channel that their clients prefer, whether digital or in-person, all while enabling the RIA to efficiently find and service more clients.

Rich Cancro, Founder and Chief Executive Officer of Vanare, said, "Vanare's acquisition of NestEgg truly puts Vanare on a new level of innovation for wealth management technology platforms. We are the only institutional-quality platform that combines traditional wealth management services with a native Roboadvisor technology, which distinguishes us from our competitors and makes us the disruptive challenger in an industry that is plagued with outdated systems and legacy issues. We are fully integrating all the disconnected wealth management processes into one powerful and scalable platform that focuses on the advisor and client experience."

Alexey Sokolin, CEO of NestEgg, said, "I am extremely excited that NestEgg is now a core component of Vanare. This strategic combination will bring tremendous value to the wealth management space and enhance the RIA and client relationship, providing new benefits for both. Instead of trying to disrupt the advisor, we are empowering the industry to serve clients at any wealth level with high quality investment advice and real personal relationships. We expect to be the dominant technology platform for RIAs with this offering, and create a new level of scale and growth for RIAs."

Cancro added, "I feel privileged to have Alexey Sokolin join Vanare as a Partner and Chief Operating Officer of the company. He brings tremendous experience, vision and an intuitive eye for innovation, and I couldn't be more pleased to have him in the management team."