TORONTO -- Nest Wealth has acquired privately owned Razor Logic Systems, an Edmonton-area company that provides banks, investment firms and independent advisors with a platform to generate complex financial plans for their clients.
Financial terms of the deal weren't disclosed, but Nest Wealth says it's offering employment to all Razor Logic employees.
Razor Logic chief executive Dave Faulkner, a co-founder, has agreed to remain with the operation based in St. Albert, Alta., northwest of Edmonton.
Among the firms that use Razor Logic services are IDC Worldsource, Financial Horizons Group, HUB Financial and Raymond James.
Nest Wealth is a privately owned company that operates a business-to-business online platform for wealth management professionals.
It says Razor Logic's main product, RazorPlan, provides the ability to create full financial plans quickly.
Among Nest Wealth's customers are National Bank and MD Financial, a unit of Scotiabank.
"Because of what our two companies are able to accomplish together, our users will be able to offer personalized financial plans integrated with their actual investment portfolios," Randy Cass, Nest Wealth's founder and CEO, said.
Nest Wealth has a consumer-focused robo advisor service in addition to its business-to-business clients.