Schroders invests in digital wealth fintech with strategic investment in WeInvest
Schroders today announces it has reached an agreement to acquire a minority equity stake in WeInvest, a Singapore-based digital wealth services business. Completion of the investment is expected to take place in June.
WeInvest is a wealth technology platform provider for banks, wealth and asset managers, insurance companies and independent financial advisors. WeInvest’s complete end-to-end investment offering covers the technology platform, investment strategies, operations, execution and custody.
Susan Soh, CEO Singapore, Schroders, said:
“Many of our distribution channels are actively evolving their platforms to equip their wealth advisors with digital tools to manage and service their clients more effectively, and to provide digital advice.
“We believe this investment opens up opportunities for closer collaboration with our distributors, through a platform that enables them to tailor solutions for their clients.”
Bhaskar Prabhakaran, Co-founder and CEO, WeInvest, said:
“We are extremely excited to have found an investor in Schroders. The firm is one of the most successful and the largest asset management companies globally. With our expanding presence in digital wealth services, and Schroders’ focus on managing investments across a broad range of clients, we believe this investment forges a great strategic fit which will lead to higher value-add for our clients and the industry at large.”
Graham Kellen, Chief Digital Officer, Schroders, said:
“Having the right technology to deliver holistic client-centric solutions is the key differentiator in the asset management industry today. At Schroders, we have placed ‘digital’ at the core of our overall business strategy, from optimisation of our operation and investment engine, to enhancing our engagements with clients and offering customised solutions for investors. WeInvest complements our continued digitisation progress and we believe it can bring long-term value to our business as a whole.”
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Note to Editors
As a global investment manager, we help institutions, intermediaries and individuals meet their goals, fulfil their ambitions, and prepare for the future. But as the world changes, so do our clients’ needs. That’s why we have a long history of adapting to suit the times and keeping our focus on what matters most to our clients.
Doing this takes experience and expertise. We bring together people and data to spot the trends that will shape the future. This provides a unique perspective which allows us to always invest with conviction. We are responsible for £447.0 billion (€503.6 billion/$604.7 billion)* of assets for our clients who trust us to deliver sustainable returns. We remain determined to build future prosperity for them, and for all of society. Today, we have 4,600 people across six continents who focus on doing just this.
We are a global business that’s managed locally. This allows us to always keep our clients’ needs at the heart of everything we do. For over 200 years and more than seven generations we’ve grown and developed our expertise in tandem with our clients’ needs and interests.
Further information about Schroders can be found at www.schroders.com.
Issued by Schroder Investment Management Limited. Registration No 1893220 England. Authorised and regulated by the Financial Conduct Authority. For regular updates by e-mail please register online at www.schroders.comfor our alerting service.
*as at 31 December 2017
Founded in 2015 and based in Singapore, WeInvest is a trusted partner in digital wealth services, enabling financial institutions to service their clients better with innovative digital offerings. WeInvest is also operational in Malaysia, Indonesia, Hong Kong, India and Dubai.
WeInvest helps institutions deliver a full-suite digital investing experience to their customers and offers three main services: TrackWealth, an aggregation as a service platform enabling clients to track their finances; AdviseWealth, a B2C robo-advisory platform; and GroWealth, a goal-based and thematic investing platform.
Further information about WeInvest can be found at www.weinvest.net.