Private Equity firms partner for WealthTech platform


Mid-market private equity firm Parethenon Capital Partners and M2 have teamed up with former Matrix Financial Solutions president John Moody to launched a wealth management platform.

The financial terms of the strategic partnership are undisclosed.

The tech platform aims to serve retirement plan, bank trust and wealth management providers and will expand through strategic acquisitions as well as organic growth.

Moody was founder and president of Matrix before selling it to Broadridge Financial Solutions in 2011.

He commented: “the opportunity to continue to drive innovation in technology enabled administration has never been better given the changing regulatory framework.

“Moreover, we are pursuing this opportunity at a time of critical importance for Americans to invest and save in smarter and more cost-efficient ways.”

Parthenon Capital’s co-CEO and managing partner Brian Golson stated: “This partnership complements Parthenon’s longstanding industry effort in asset management technology.

“After 10 years of looking for ways to work together, we’re pleased to have the opportunity to collaborate with John. He’s a talented and experienced leader with an outstanding vision for the sector.”

Parthenon is joined by M2, a newly formed operating company focused on financial services.

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