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.
Quotes
"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
Caution Regarding Forward-Looking
Statements
This press release includes certain
forward-looking statements. These statements are inherently subject
to significant risks, uncertainties and changes in circumstances,
many of which are beyond the control of the Bank or of Nest Wealth,
including, obtaining the necessary regulatory approvals, the Bank's
ability to complete the integration of Nest Wealth's technology
successfully, changes in general economic and market conditions in
the areas where the Bank and Nest Wealth do business and the
effects of competition in the markets in which the Bank and Nest
Wealth operate. Except as required by law, the Bank does not
undertake to update any forward-looking statements, whether written
or oral, that may be made from time to time, by it or on its
behalf. The forward-looking information contained in this press
release is presented for the purpose of interpreting the
information contained herein and may not be appropriate for other
purpose.
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 nbc.ca 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 www.nestwealth.com 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.
SOURCE National Bank of Canada