Schroders announces it has reached an agreement to acquire a minority equity stake in WeInvest, a Singapore-based digital wealth services company. Completion of the investment is expected to take place in June.
WeInvest is a wealth technology platform provider for banks, wealth and asset managers, insurance companies and independent financial advisors. WeInvest’s complete end-to-end investment offering covers the tech platform, investment strategies, operations, execution and custody.
Susan Soh, CEO Singapore, Schroders, said:
“Many of our distribution channels are actively evolving their platforms to equip their wealth advisors with digital tools to manage and service their clients more effectively, and to provide digital advice.
“We believe this investment opens up opportunities for closer collaboration with our distributors, through a platform that enables them to tailor solutions for their clients.”
Bhaskar Prabhakara, Co-founder and CEO, WeInvest, said:
“We are extremely excited to have found an investor in Schroders. The firm is one of the most successful and the largest asset management companies globally.
With our expanding presence in digital wealth services, and Schroders’ focus on managing investments across a broad range of clients, we believe this investment forges a great strategic fit which will lead to higher value-add for our clients and the industry at large.”
Graham Kellen, Chief Digital Officer, Schroders, said:
“Having the right technology to deliver holistic client-centric solutions is the key differentiator in the asset management industry today.
At Schroders, we have placed ‘digital’ at the core of our overall business strategy, from optimisation of our operation and investment engine to enhancing our engagements with clients and offering customised solutions for investors.
WeInvest complements our continued digitisation progress and we believe it can bring long-term value to our business as a whole.”
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