United Income said to be acquired by Capital One

United Income, an automated investment advice platform, has been reportedly been acquired by Capital One.

As part of the deal, the current management team of United Income will remain and will operate autonomously, according to reports in the media. After the close of the deal, United Income is looking to expand its team in a bid of boosting innovation.

United Income offers a holistic wealth management advice service, including integrated financial planning to support everything from cashflow management to estate planning. The platform also offers personalised insights to members, detailing how their wealth, cashflow, taxes, spending, and other financial information can change in the future.

Other services offered by the company include investment management, tax reduction, and retirement management.

Capital One has been embroiled in a lot of pressure over the past few months, after it was subject to a hack. The attack occurred in March but was not discovered until July, and resulted in 106 million of Capital One’s customers’ data being compromised.

A legal firm in Ontario revealed a lawsuit against the firm on behalf of the six million Canadians to be affected by the attack.

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