Objectway, the Global Top 100 FinTech provider of as-a-service software and services to banks, wealth and asset managers, announced today the acquisition of Nest Wealth, a leading Canadian provider of digital wealth solutions.
Building on more than 30 years of business expertise, Objectway has built partnerships with banks, wealth and asset management firms to empower and scale their business through cutting-edge software and services, enabling financial institutions of all sizes and geographies to seamlessly embark on their digital transformation journey.
With more than 10 years of market leadership and innovation, Nest Wealth provides digital wealth solutions for onboarding, account opening, and financial planning to some of the largest financial institutions in Canada – including banks, custodians and asset managers – wealth management firms and individual advisors, as well as direct-to-investor investment management services. Clients include half of Canada’s largest six banks as well as National Bank of Canada, National Bank Independent Network, etc.
Canada is recognized as a market with a growing population and a sophisticated financial eco-system. As a result, the country is one of the top ten most important wealth markets and one of the regions with the largest distribution of wealth advisory services per individual in the world.
By adding Nest Wealth client onboarding and financial planning complementary solutions to Objectway’s capabilities, the Group will enhance its wealth and investment management offering, marketing this to existing and new clients in Canada and the US.
In EMEA, the acquisition also provides the opportunity to further expand and enrich the firm’s wealth solutions design model across the value chain to offer best-in-class digital client onboarding and planning solutions on top of its advisory services, discretionary portfolio management and back-office operations.
“The Nest Wealth team has built a remarkable digital wealth platform with an eminent client base. We look forward to working with them to maximise our business potential, grounded on our common focus on digital innovation and on the same modular, flexible and “as-a-service” approach,” commented Luigi Marciano, Objectway Founder and Group CEO.
“This acquisition marks a significant milestone in our growth and global expansion strategy, enabling us to establish and broaden our market presence in North America and to offer an even more comprehensive range of innovative products and services to existing and new customers in both the EMEA and North American regions in which we operate.”
“We are thrilled to join the Objectway Group, an innovative and highly respected company with a proven track record in the industry. This will accelerate our expansion across the North American region, and open up additional market opportunities in EMEA. In Objectway, we have found the perfect partner, giving our employees and customers continuity, stability and an exciting future of continuous development to solve their problems ,” affirmed Randy Cass, Nest Wealth Founder and CEO.
Objectway was advised by Deloitte, Deloitte Legal and Alpeggiani Avvocati Associati. Nest Wealth was advised by Ascent Line Partners and Wildeboer Dellelce LLP.
BNL is acting as sole lead manager and bookrunner on the associated financing which will involve also SIMEST.
Building on more than 30 years of business and technology expertise, Objectway is an international wealth, banking and asset management software and service provider empowering clients to embrace their future challenges while providing great performance today.
The Objectway software and service platform digitalises as-a-service the entire value chain of private banking, wealth and asset management, thanks to extensive capability, future-proof technology and strong investment operations expertise. It supports more than 100,000 investment professionals to manage more than €1 trillion in assets.
With over €100 million of consolidated revenue, the Group is a global Top 100 fintech provider (IDC ranking). The Group has a global organisation including over 800 business and technology experts, operating from Italy, UK, Belgium, Germany, Switzerland, UAE and Ireland. Objectway clients include 200+ leading Banks, Wealth Managers, Asset Managers and Insurers in more than 15 countries.
About Nest Wealth
Founded in 2014, Nest Wealth began by creating Canada’s first Software as a Service (SaaS) digital wealth management platform, with the goal of increasing investor access to sophisticated wealth management advice.
Over time, Nest Wealth’s digital wealth solutions also empower wealth management firms and individual advisors to provide and manage virtually any investment for any investor through any distribution channel.
Today, Nest Wealth’s digital solutions are used by well-established financial institutions across North America, including the National Bank of Canada, to deliver superior investment experiences to clients. Nest Wealth also offers an automated, low-fee and transparent direct-to-investor wealth management solution that makes it easier for thousands of Canadians to reach their financial goals.