Abrdn has completed a deal to acquire AI-driven wealth management solution business Exo Investing for an undisclosed fee, with the firm hoping to build an “industry leading” technology offering.
The deal, which is expected to complete in the fourth quarter of 2021, will see abrdn launch "24/7 digital wealth management" via an app. Exo Investing offers artificial intelligence powered investment technology, enabling customers to create a portfolio built around their individual goals, risk profile and preferences. Investors will choose between a customised, themed or fully automated approach. ‘Customised' investors can select their preferences in areas such as sector, geography and investment style, while ‘themed' investors can choose pre-defined strategies, such as ESG and...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
