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Financial Advisory  + Wealth Management  | 
Wealth Management Platform FNZ to Buy Fixed Income Fintech YieldX

Wealth Management Platform FNZ to Buy Fixed Income Fintech YieldX

Wealth management platform and global financial services provider FNZ has made its second acquisition of the year, buying Miami-based YieldX, a provider of fixed income portfolio management technology as well as optimization services and direct indexing solutions for the wealth management sector.

Financial terms of the deal were not disclosed.

Following the acquisition, YieldX co-founders Adam Green and Steve Gross will join FNZ as CEO of Asset Management and Head of Asset Management Strategy, respectively.

The deal is less than a week after UK-based FNZ announced it completed its purchase of German commercial bank Fondsdepot, which was initially announced in late 2021.

In 2020, FNZ entered the US market when it acquired State Street’s wealth manager services business. In April of 2021, the company launched its own US wealth management venture, FNZ Trust Company.

FNZ states it currently serves 650 “large” financial institutions and 8,000 wealth management firms encompassing $1.5tn in client assets representing 20mn global investors.

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About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.