The startup WeAdvise is a company focused exclusively on B2B business. Provider of robo-advisory technologyWith its white-label technology for digital asset management, the Munich-based company offers both financial service providers and non-banks the opportunity to tap into new revenue streams and manage existing business. Investors in the startup include independent asset managers such as Consulting Team, Nowinta, and R&M. These companies also intend to use the startup's technology for their own digital businesses. In addition, Arts Asset Management, a subsidiary of C-Quadrat, Austria's largest bank-independent asset manager, has also invested in the Munich-based startup.
The Munich-based company Fundsaccess specializes in technologies for hybrid asset management at the point of sale. With Fundsaccess solutions, banks, insurance companies, and distributors can legally represent and manage their clients' financial lives throughout the entire advisory process.
Leading provider of digital and hybrid investment advice
The combination of the two startups is expected to create the leading provider of digital and hybrid investment advice. With hybrid advice, investors transition seamlessly from digital self-service offerings to personal support from an advisor. According to the company, Fundsaccess generates annual revenue of over €6 million after the merger with WeAdvise and is profitable. The more than 50 joint existing customers include established financial service providers such as AXA, Gothaer, Swiss Life Select, and the JDC Group. According to the company, more than 1.3 million accounts and portfolios, or over €62 billion in client assets, are managed on the combined platform by a good 20,000 advisors. The existing teams, with almost 50 employees at the two locations in Munich and Kiel, will be retained.
“By joining forces in the Digital Advisory segment, we are strengthening ourselves for the future, which will be characterized by digital and hybrid consulting models,”
so Reinhard Tahedl, CEO of Finconomy. And further:
“The combination of both solutions will enable our B2B partners to deliver their wealth management services through a single technology platform, regardless of their distribution channels.”
