UK-based wealth management and employee benefits business Mattioli Woods has acquired a 4% stake in Tiller Group, a software as a service wealth management platform which operates in Jersey as Tiller Technologies.
According to Mattioli Woods, it will use Tiller's platform to develop a digital self-investment app.
The platform will provide an investment solution under one digital interface, including onboarding, risk profiling, managing investment portfolios and client reporting, and is expected to launch later this year.
Mattioli Woods Group MD Michael Wright commented: "This platform allows us to simplify and enhance the process of bringing on board new clients efficiently and highly securely – appropriate for a Covid and post-Covid environment."
The company is taking an initial shareholding of 4% through a subscription of new shares in Tiller, with the potential to increase its holding in future.