FNZ Agrees to Acquire Fixed Income Investing Platform YieldX – Finovate

• FNZ has acquired digital fixed income trading company YieldX.
• The acquisition will combine FNZ’s investment platform, which represents more than 20 million investors across the globe, with YieldX’s digital infrastructure.
• Terms of the deal were not disclosed.

Wealth management firm FNZ snapped up some new tech talent today with the acquisition of digital fixed income trading company YieldX. Terms of the deal, which will combine FNZ’s full-service investment platform with YieldX’s digital infrastructure, were not disclosed.

FNZ anticipates the buy will help it further its mission “to deliver personalized investment solutions to more people across the wealth management industry.” Furthermore, YieldX’s focus on technology will help FNZ provide more investment options at scale, offering investors more variety and transparency.

“We have a joint vision of opening up wealth by transforming the wealth management industry through more transparent, accessible, and personalized technology solutions. YieldX’s solutions perfectly complement our existing strengths and will further differentiate our offering for the benefit of all clients,” said FNZ CEO of North America Tom Chard. “The acquisition also provides a unique opportunity to accelerate our growth and presence in the U.S. as we continue to add market leading capabilities to our global wealth platform. We’re incredibly pleased to welcome Adam and Steve, as well as the wider YieldX team to FNZ. Like us they are highly innovative, customer obsessed, and are an invaluable addition to our team.”

Founded in 2004, FNZ helps financial institutions offer personalized wealth management services to their end users. Acquiring YieldX will help the firm deepen its digital offerings that match clients with fixed-income opportunities that meet their preferred term, yield, and risk tolerance. FNZ currently represents more than 20 million investors across the globe, with more than $1.5 trillion in client assets under management. The firm’s partners include over 650 large financial institutions and 8,000 wealth management firms in 21 countries.

YieldX was founded in 2019 and has since raised $36 million across three rounds. The company’s most recent funding came in 2021 from its integration partner Envestnet, which invested $18 million in YieldX. The company’s clients range from wealth and asset managers, to global B2C financial services and technology providers.

Once the acquisition is finalized, YieldX Co-founders Adam Green and Steve Gross will join FNZ as the company’s CEO of Asset Management and Head of Asset Management Strategy, respectively.

Photo by Mark Stebnicki