Liechtenstein-based private bank LGT has agreed to buy a strategic minority stake in the German digital wealth manager LIQID.

Founded in 2016, LIQID offers professional wealth management investment solutions as well as private equity, venture capital and real estate investments to wealthy private investors.

Earlier this year, LIQID’s client assets crossed the €1bn mark, making it one of Germany’s largest digital wealth managers.

The tie-up will see LGT collaborating with the digital wealth manager to develop the latter’s investment strategy for its wealth management offering.

The LIQID Wealth offering provides comprehensive investment strategies in traditional asset classes and is available to private investors investing €100 000 or more.

The move aims to expand LGT’s investment offering to the LIQID clients.

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By GlobalData

LIQID CEO and founder Christian Schneider-Sickert said: “LGT is not only a benchmark in private banking and asset management, but also an established investor in growth companies.

“With its focus on sustainability and entrepreneurship, LGT ideally complements our ambitions and values. Together with LGT, I look forward to developing LIQID into Europe’s leading provider of digital private banking.”

LGT chairman H.S.H. Prince Max von und zu Liechtenstein said that the partnership with LIQID will enable a broader segment of private investors in Germany to access LGT’s investment expertise.

He said: “LIQID has an impressive track record of growth, and we are convinced that the provision of professional investment expertise in a digital format – in combination with LIQID’s dedicated client focus and commitment to quality – constitute a promising business model.

“We are delighted to be supporting LIQID in its ongoing expansion and also expect this to provide impetus for the further digitalisation of our own services.”

LGT reported a decrease in its profit in 2020, hit by a $63.7m (CHF59m) earn-out in connection to the completion of the LGT Vestra takeover.

The bank acquired LGT Vestra in last October.