Digital wealth manager and neo broker Scalable Capital has acquired specialist ETF information provider justETF for an undisclosed sum.
The acquisition will add to the firm’s existing information resources and enable investors to make more informed decisions on their ETF portfolios.
justETF founders Dominique Riedl and Petra Riedl, along with the team, will remain on board following the acquisition with the brand also remaining.
The firm allows retail investors to make ETF and portfolio comparisons along with providing portfolio tools.
Commenting on the deal, Athanasios Psarofagis, ETF analyst at Bloomberg Intelligence, said: “Clearly we can see the growth of firms such as Scalable Capital as well as Nutmeg which was purchased by JP Morgan.
“The acquisition of justETF is a big deal as it shows the preference of ETFs as the optimal vehicle for robo-advisers and validating that by bringing the research in house.”
Founded in 2014, Scalable Capital offers risk-rated portfolios made-up of ETFs as well as enabling retail investors to trade ETFs themselves through its digital broker.