Quilter, the FTSE-250 wealth management company, has announced its acquisition of NuWealth in a move to strengthen its digital capabilities.
The acquisition will help Quilter enhance its digital offering, aiming to better support both customers and financial advisers.
The goal is to evolve NuWealth’s platform to provide additional guidance to new investors and later allow them to work with financial advisers as their investment journeys progress.
This step is aligned with proposals from the HM Treasury (HMT) and Financial Conduct Authority (FCA) Advice Guidance Boundary Review, which encourages the development of services that help bridge the advice gap.
Quilter CEO Steven Levin said, “We are excited to welcome NuWealth into Quilter. This acquisition aligns with our strategy to enhance our digital capabilities, ensuring we can support advisers to meet the diverse needs of their clients.
“As client expectations for digital engagement evolve, we recognise that robust technology solutions are key to reducing the advice gap and enabling advisers to reach and support a wider set of clients. Advisers have been asking us to support them with a proposition for their clients who are just starting out their investment journeys or not yet ready for a full advice offering. We will evolve NuWealth to help advisers serve these clients, promote the benefit of financial advice and prepare for future regulatory changes in advice and guidance.”
Quilter’s purchase of NuWealth will accelerate the company’s ability to offer digital guidance and serve a broader range of clients. Additionally, the acquisition will support Quilter’s workplace advice services, provided by Quilter Financial Advisers, the company’s national advice arm, which works with affinity advice partners.
NuWealth’s integration will help meet advisers’ needs for a scalable solution that targets clients at the beginning of their investment journeys, who are not yet ready for full financial advice but need guidance.
NuWealth CEO Kane Harrison added, “We are thrilled to join forces with Quilter. This partnership will allow us to leverage Quilter’s extensive resources and expertise to better serve customers and create solutions for financial advisers. Together, we can drive innovation and provide more comprehensive digital solutions to meet the evolving needs of investors.”
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