Aquiline, a global private investment firm focused on financial services and technology, has entered into a definitive agreement to invest in Flourish, an innovative WealthTech platform currently owned by MassMutual that gives registered investment advisors, or RIAs, private-bank-like solutions to serve their clients.
Following completion of the deal, which is expected to close in the fourth quarter of 2026 subject to customary closing conditions and regulatory approvals, Aquiline will hold a controlling interest in Flourish, while MassMutual will retain a significant stake in the business.
Industry veteran David Canter, who previously led Fidelity’s RIA and family office segments, will join Flourish’s board as incoming executive chairman.
New York-based Flourish acts as a growth engine for more than 1,300 RIAs. Its advisor-led cash-management solution has grown assets under custody from $1bn to $8bn over five years, and the company recently launched what it describes as the first home-lending solution built exclusively for the independent advisor channel.
Aquiline will work alongside Flourish to build on its record of meeting the changing needs of independent advisors through new functionality and capabilities, helping RIAs compete against larger broker-dealers and wirehouses. MassMutual pointed to Aquiline’s experience investing across wealth, retirement and investment technology, along with its history of scaling go-to-market strategies and backing consumer-friendly financial services innovation, as key reasons for selecting the firm as a partner.
Aquiline’s past investments in the wealth and retirement space include Ascensus, Assetmark, RIA-in-a-Box and Sageview.
Flourish CEO Max Lane said, “Flourish was built on a single insight: identify where clients’ financial lives spill outside the traditional advisory relationship and help advisors grow by bringing those assets into their orbit. As we enter this next chapter with Aquiline’s strategic backing, we are positioned to move even faster and better to serve the independent advisor market. This new structure preserves our deep, ongoing relationship with MassMutual while providing the agility to accelerate our roadmap and deliver the next generation of products that independent advisors need to succeed.”
Flourish incoming executive chairman David Canter said, “I am delighted to join Flourish as the firm continues to develop its proposition for independent advisors. Cash management and lending solutions are key foundational components of a comprehensive wealth management platform. In an increasingly competitive advisor landscape, Flourish’s solutions enable independent advisors to more effectively respond to clients’ needs by actively engaging in their clients’ most meaningful financial decisions while protecting and growing their practices.”
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