Nutmeg, the online wealth management firm, widened its losses by more than £6m ($7.8 million) last year as it invested in attracting new customers. Operating losses deepened from £12.3m ($16 million) to £18.6m ($24.1 million) despite an increase in turnover from £4.6m ($6 million) to £7.2m ($9.3 million), as expenses expanded to £22.7m ($29.5 million) from £17m ($22 million) the previous year. The London-based fintech, which manages more than £1.8bn ($2.4 billion), has yet to make a profit since its launch in September 2012.

 

Tradeweb Markets, an operator of electronic transaction venues for rates, credit, equities and money markets, is collaborating with margin optimization services providers Cassini Systems and OpenGamma to integrate margin optimization analytics with Tradeweb’s interest rate derivatives platform.

 

Broadridge Financial Solutions, Inc., a global fintech leader and part of the S&P 500 Index, has entered into a purchase agreement to acquire Fi360 Inc. Fi360 is a leading provider of fiduciary-focused software, data and analytics for financial advisors and intermediaries across the retirement and wealth ecosystem. Fi360 also provides the accreditation and continuing education for the Accredited Investment Fiduciary (AIF) Designation, the leading designation focused on fiduciary responsibility. Broadridge’s acquisition of Fi360 will enhance its existing retirement solutions by providing wealth and retirement advisors with fiduciary tools that complement its Matrix trust and trading platform.

 

U.S.-based fintech FinMason announced it has analyzed over 10 million portfolios for clients since launching its analytics API service in 2017. As previously reported, FinMason claims to be the world’s largest independent investment analytics engine for financial services platforms. The fintech firm notably provides access to more than 700 calculations on every publicly traded asset in the world delivered through one simple API.

 

RetireUp, a provider of integrated retirement income planning solutions, announced it is now part of LPL Financial’s Vendor Affinity Program. As part of the program, the more than 16,000 advisors affiliated with LPL, a leader in the retail financial advice market and the nation’s largest independent broker-dealer, can access the solutions at a discounted price.