Last updated: 13:30 / Monday, 18 July 2016
Will Still Serve its Clients

TIAA buys the Wealth Management Tech Provider, MyVest

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TIAA buys the Wealth Management Tech Provider, MyVest
  • Terms of the deal were not disclosed
  • MyVest will now operate as a subsidiary of TIAA that focuses on emerging technologies and will report to its Chief Digital Officer, Scott Blandford
  • MyVest will continue to serve its current client base
  • MyVest provides scalable, customized wealth management services on a single unified platform for financial institutions

TIAA has announced that it has acquired MyVest, an holistic wealth management technology company. This acquisition underscores the firm´s commitment to help individuals navigate their financial lives in a clear, simple and efficient way. Terms of the deal were not disclosed.

Headquartered in San Francisco, MyVest provides scalable, customized wealth management services on a single unified platform for financial institutions. It  will now operate as a subsidiary of TIAA that focuses on emerging technologies and will report to its Chief Digital Officer, Scott Blandford.

Both companies have collaborated since 2009 to help provide customized discretionary investment and tax management services for individuals. This acquisition will advance TIAA´s efforts to deliver a full suite of digital advice capabilities in addition to its in-person and phone-based services.

Following this acquisition, the firms will continue to work together to deliver simplified advice and planning technology across TIAA's portfolio of financial services products, from retirement plans to IRAs and banking products.

MyVest employs a team of experienced technology, investment management and services operations professionals and will continue to serve its current client base.

“We remain committed to serving our clients and continuing to provide the tools advisors need to prepare their clients for the future,” said MyVest CEO Anton Honikman.

 

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