National Bank to make $6 mln strategic investment in Nest Wealth

© Nest Wealth 2017."Nest Wealth" is the trade name of Nest Wealth Asset Management Inc.

National Bank of Canada has agreed to make a $6 million minority investment in Nest Wealth Asset Management Inc, a Toronto-based financial technology startup. The deal forms part a strategic agreement between National Bank and Nest Wealth that will see the latter’s technology used to enhance the bank’s digital platforms. Founded in 2014 by CEO Randy Cass, Nest Wealth has developed an automated wealth management system that offers direct-to-investor solutions as well as advanced business solutions. The company raised $1.5 million in funding from Metroland Media Group Ltd in 2015.


National Bank And Nest Wealth Announce A Strategic Minority Investment And Commercial Agreement

MONTREAL, April 21, 2017 /CNW Telbec/ – National Bank, one of Canada’s Big Six, and Nest Wealth, a leader in financial investment technology, are proud to announce the signing of multiple agreements. The agreements include both a strategic minority investment of $6 million by National Bank in Nest Wealth and a commercial agreement between the two companies. The commercial agreement will see National Bank employing Nest Wealth’s cutting-edge investment technology to enhance the Bank’s internal digital platforms for the ultimate benefit of its clients.

The transaction is subject to regulatory approval.


“It is a great pleasure to partner with Nest Wealth, a top Canadian fintech company renowned for its innovation and ability to offer exceptional digital platform experiences. Our objective at National Bank is clear: to augment and complement our present platforms, thereby equipping our advisors with an additional working tool that will take our investment offer to the next level. With this agreement, National Bank is increasing its digital services to end-clients, while continuing to emphasize the importance and value of financial advising relationships. We are very proud of that.”

Martin Gagnon
Co-President and Co-Chief Executive Officer, National Bank Financial
Executive Vice-President – Wealth Management

“We are thrilled to be entering into these agreements with National Bank, a truly innovative and historical Canadian bank. At Nest Wealth we know that digital wealth platforms can be a game-changer for millions of Canadians who are working hard to save and accumulate wealth. National Bank shares our singular focus on making the end-investor better off and we are excited to work with this great institution to expand the reach of Nest Wealth Pro and our other industry-leading wealth management solutions.”

Randy Cass
Founder and CEO of Nest Wealth

About National Bank of Canada
With $234 billion in assets as at January 31, 2017, National Bank of Canada, together with its subsidiaries, forms one of Canada’s leading integrated financial groups. The Bank has more than 21,000 employees and is widely recognized as a top employer. Its securities are listed on the Toronto Stock Exchange (TSX: NA). Follow the Bank’s activities at or via social media such as Facebook, LinkedIn and Twitter.

About Nest Wealth
Nest Wealth is an automated wealth management solutions provider that offers both direct-to-investor solutions through and advanced business solutions through its Nest Wealth Pro product. Nest Wealth’s consumer solutions make it easy for investors to obtain sophisticated wealth management focused on their long-term goals without high fees, large minimums or lack of transparency. The company also makes it fast and affordable for wealth management firms to offer online and mobile wealth management solutions that meet the expectations of today’s clients by offering white-labelled B2B solutions including simple onboarding, greater transparency and fully integrated back office and compliance functionality.

For further information: National Bank: Marie-Pierre Jodoin, Senior Manager, Public Affairs, 514-394-4209, [email protected]; Nest Wealth: Corey Goldman, Goldman Communications Inc., 416-322-2863, [email protected]

Photo courtesy of Nest Wealth Asset Management Inc

Find new deal opportunities, super-charge your fundraising efforts and track top managers with VCJ. Get your FREE trial! Or subscribe now!