Online financial planning firm YourWealth.co.uk has been acquired by South African investment firm Momentum for an undisclosed fee.
YourWealth launched last year as a direct-to-consumer platform, and in November set up an adviser-facing service to sit alongside its D2C planning tool Money Hub.
The UK arm of Momentum has acquired Your Wealth and the Money Hub app technology subject to regulatory approval.
Momentum chief executive Ferdi van Heerden says: “This acquisition is exciting for Momentum as it is in line with our South African initiative aimed at providing consumers with pertinent information to assist them to manage their financial wellness. This acquisition ensures the same approach can be provided to our UK clients.”
YourWealth founder Toby Hughes says: “My vision when we set out was to empower people to make better choices over their financial futures by using our technology. The deal gives us the opportunity to fast track development for both YourWealth and the MoneyHub app to accelerate that vision.”