- Acquisition Announcement: London-based wealth manager Quilter has acquired digital investment platform NuWealth, launched in 2019, for an undisclosed sum.
- NuWealth Specialization: NuWealth focuses on providing market access to novice investors through features like fractional share trading, themed ETFs, and access to stocks in the UK, EU, and US markets.
- Plans for NuWealth: Quilter aims to evolve NuWealth to work with financial advisers, helping new investors start their investment journey with potential future access to advisers.
- Expansion of Digital Capabilities: The acquisition will strengthen Quilter’s digital services and support its workplace advice offerings through Quilter Financial Advisers.
- Support for Advisers: Quilter CEO Steven Levin notes that the acquisition addresses the need for a solution to help financial advisers support clients who are new to investing.
- Future Focus: Quilter plans to adapt NuWealth to promote financial advice and prepare for future regulatory changes in the sector.
