CI Financial, a Canadian firm providing asset management and wealth management advisory services, has invested in fintech firm d1g1t.
The investment is said to be equivalent to 9.5% of the fintech firm. Other financial terms were not disclosed.
CI said that the infusion will be used to support the fintech firm’s commercial expansion and product offering.
As part of the deal, CI president and COO Darie Urbanky will gain a seat on the d1g1t board.
d1g1t CEO and co-founder Dan Rosen said: “We look forward to working with the CI team to provide the firm’s advisers, as well as the management team, with a whole new set of capabilities that elevate the quality of their client engagement, show value to their clients, and grow the business.”
The investment is part of a strategic alliance between the two parties, which will enable the implementation of d1g1t enterprise wealth management platform across CI’s advisory units.
The d1g1t platform aid the exchange of real-time intelligence about clients, portfolios and the business.
Urbanky noted: “The future of wealth management will involve the combination of human advisers enabled by best-in-class technology.
“We’ve been looking for the right platform for a while and are very excited to partner with d1g1t’s experienced team. The d1g1t platform will help us scale up the high-value, human services that will set us apart in an increasingly digital world.”