B. Riley Financial, has invested in IQvestment Holdings, a fintech company that provides a B2B e-commerce platform.

Financial terms of the transaction were not revealed.

IQvestment Holdings houses two operating companies, FusionIQ and IQvestment.

FusionIQ is a fintech B2B firm that provides an e-commerce platform, enabling users to offer a digital advisory and/or self-directed user experience to their clients on an intuitive dashboard.

A SEC registered independent adviser, IQvestment provides sub-advisory and support services and flat-fee pricing.

The integration of the two parties’ technology, business processes, as well as relationships is said to offer a end-to-end solution for B. Riley Wealth Management’s retail clients and affiliate businesses.

B. Riley Wealth Management CEO Chuck Hastings will now be part of IQvestment Holding’s board of directors whereas B. Riley Financial chief business officer Jon Merriman has secured a seat on the advisory board.

IQvestment Holdings CEO Mark Healy said: “Chuck’s extensive experience in the financial markets, along with his passion for integrating the digital experience into wealth management, is a key addition to our leadership team.

“Jon’s advice and guidance, as well as his institutional and corporate relationships, will be invaluable.”

“The strategic partnership through B. Riley adds an important dynamic for IQvestment Holdings, enhancing our ability to deliver advanced digital capabilities to our clients through our eCommerce platform.”

The eCommerce platform of IQvestments is said to democratises access to investing. The platform serves both corporate and retail clients.

According to B. Riley Financial, the platform supports cost savings and investor retention, while generating revenue and relationship opportunities.

B. Riley Financial’s service suite includes investment banking and institutional brokerage, private wealth and investment management, corporate advisory, forensic accounting and litigation support, auction and liquidation services, among others.