By Stephanie Bartup | Private Asset Management Magazine
December 22nd, 2014
Next-generation wealth management technology platform Vanare has bought NestEgg Wealth, allowing the firm to launch the first ever offering to completely integrate online wealth management with traditional wealth management.
Vanare, a platform for investment advisors, said the acquisition would enable clients to access easily-customized digital advice.
Rich Cancro, founder and CEO 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which distinguishes us from our competitors and makes us the disruptive challenger in an industry that is plagued with outdated systems and legacy issues.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 the strategic combination would bring “tremendous value” to the wealth management space.
“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,” he said. “We expect to be the dominant technology platform for RIAs with this offering, and create a new level of scale and growth for RIAs.”