Wealth management platform FNZ has completed its acquisition of Germany-based Fondsdepot Bank.
This is FNZ’s latest foray into the country and brings together investment platform ebase, specialist wealthtech provider DIAMOS and Fondesdepot.
Following the acquisition of Fondesdepot Bank, FNZ employs more than 1,000 people and has over €120bn assets under management (AuM) for more than two million customers in Germany.
Sebastian Henrichs will continue to be chief executive of Fondsdepot Bank and lead FNZ Germany simultaneously.
FNZ aims to transform the industry with its end-to-end wealth platform. In addition, it combines technology, infrastructure and investment operations into a single platform to enable financial institutions to deliver personalised services.
Adrian Durham, group CEO of FNZ, said: “We are delighted to have successfully completed the acquisition of Fondsdepot Bank, which, together with ebase and DIAMOS, accelerates our mission to open up wealth by making wealth management more accessible to more people.
“We also look forward to welcoming Sebastian. He has extensive leadership experience and a track record of success in the German wealth management sector, and I’m confident that the team will continue to grow FNZ’s business in Germany.”
Sebastian Henrichs, CEO Fondsdepot Bank, added: “I am very excited about the opportunity to join FNZ and to work with such a strong team. Together, we will continue to grow FNZ’s market-leading client offering by leveraging our combined platform capabilities and market knowledge. All of our employees will play a critical role in achieving this goal, creating even more exciting career opportunities in the future.”
At the end of 2022, FNZ collaborated with Envestnet.
Under the partnership, the two entities integrated their platforms to offer end-to-end digital wealth management experience.
The integration will enable account opening and funding in real time. The solution will also support the full lifecycle of client account with automated servicing and maintenance.