Friday 30 July 2021

*UKHotViewsExtra* Embark deal highlights increasing role of technology in UK wealth management

LBGLloyds Banking Group (LBG) has announced a deal to acquire digital wealth management specialist, Embark Group for £390m. The “robo-adviser” platform currently has around 425k retail customers and more than £40bn of assets under administration.

EmbarkEmbark has enjoyed strong growth since its foundation in 2013 thanks in part to its strategic partnership with wealth management technology provider FNZ. A lot of this growth has been achieved via acquisition, with Embark having added Zurich’s retail wealth platform and the Horizon and Alliance Trust portfolios.

The highly competitive UK wealth management sector has seen significant change in recent years, influenced by tight margins and new technology-based approaches and the Embark deal is very much part of that wider trend. My latest UKHotViews Extra Embark deal highlights increasing role of technology in UK wealth management examines the acquisition and explores some of the other activity taking place in the sector, driven by the influence of technology. 

HVPTechMarketView clients, including HotViews Premium subscribers, can download this UKHotViewsExtra now. If you do not already have access but are interested in reading this or any other content, please contact Deb Seth for more information.

Posted by Jon C Davies at '09:33' - Tagged: M&A