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FNZ buys YieldX

FNZ buys YieldX

Wealth management platform FNZ has made its second acquisition in a week, buying YieldX, a US-based provider of fixed income portfolio management technology, optimisation services and direct indexing tools.

Financial terms of the deal were not disclosed.

Founded in 2019, Miami-based YieldX serves wealth and asset managers, B2C financial services players and technology providers operating across the globe.

FNZ says the combination will see financial institutions, advisors and their clients benefit from the combination of its full-service, end-to-end platform and YieldX’s digital infrastructure and technology.

These capabilities, which will be integrated into FNZ’s wealth platform, enable clients to scan the universe of fixed-income opportunities globally, and quickly identify the outcomes that mirror their desired term and yield, based on their risk profile.

YieldX co-founders Adam Green and Steve Gross will join FNZ, the former as CEO of asset management, and the latter as head of asset management strategy.

Tom Chard, CEO, North America, FNZ, says: "YieldX’s solutions perfectly complement our existing strengths and will further differentiate our offering for the benefit of all clients.

"The acquisition also provides a unique opportunity to accelerate our growth and presence in the US as we continue to add market leading capabilities to our global wealth platform."

Earlier FNZ acquired German credit institution Fondsdepot Bank, one of a spate of acquisitions in recent months as the firm spends some of the $1.4 billion in raised in an equity funding round last year.

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