The platform has purchased a company that offers intuitive planning software for wealth professionals
WealthBar Financial Services has announced its latest acquisition in a bid to continue its expansion into the advisor side of its business.
WealthBar has acquired Snap Projections, a firm that offers intuitive financial planning software to help wealth professionals formulate customized wealth and retirement plans for their business.
“Snap gives advisors a powerful way to build engagement with clients by conveying a visual story of what they're working towards,” said WealthBar co-founder and CEO Tea Nicola. “With this partnership we're expanding on the support that we provide to the advisor community as they build their businesses.”
According to a press release from WealthBar, Snap Projections allows advisors to easily build out and compare various “what if” scenarios to improve their understanding of financial impacts and outcomes. Since launching five years ago, Snap Projections has reportedly been used by financial professionals to build more than 50,000 financial plans for Canadians.
“WealthBar is an ideal partner because they share our vision of ensuring all Canadians can access professional financial planning," Pawel Brzeminski, founder and chief executive of Snap Projections, said in a statement. “This will allow financial advisors working with Snap to access the best tools on the market allowing them to be more productive, deliver extraordinary value to their clients, and grow through referrals."
“Many Canadians can benefit from the expertise of a professional financial advisor and the combination of Snap and WealthBar demonstrates how digital services can enhance and strengthen the advisor-investor relationship," said Kurt MacAlpine, CEO of CI Financial, which is the parent company of WealthBar.
As part of the acquisition, WealthBar said it will make additional investment into Snap Projections to let it accelerate future product development, develop new channel partnerships, and grow its team.