Here is your Riskalyze Fintech Five for September, a focused take on what we think are the recent top five stories in wealth management technology.
Our first story brings back memories of that old Julia Roberts film, Runaway Bride. It felt like Wealthfront and UBS were halfway through the vows, and we’re not quite sure who started running first, but lo and behold, both parties issued a dignified statement that they had “mutually” decided to part ways before they even got married.
UBS had been set to turn Wealthfront into the digital client acquisition engine for their human advice business, and getting that deal done and priced at the top of the market for $1.4 billion dollars was an absolute coup for Wealthfront.
The strange thing is that acquisition deals are normally binding, so just because UBS might have felt that …