Asset ManagementTegra118 Makes First Strategic Acquisition with Purchase of Retirement Income Planning Software

RetireUp enables dynamic client-advisor interactions on retirement income, bringing exciting new capabilities to Tegra118’s front office solution set
BusinessWire BusinessWireJune 12, 20205 min

Tegra118, a top provider of wealth and asset management technology solutions – and a portfolio company of Motive Partners, a specialist private equity firm – announced its acquisition of Illinois-based RetireUp, a leading provider of retirement planning technology. The acquisition will help advisors enrich their client relationships with powerful retirement income planning through a seamless, modern experience. It underscores Tegra118’s promise to accelerate innovation, build its core platform with purpose, and simplify the wealth management experience for clients.Fintech News

Founded by a team of financial advisors, RetireUp boasts nimble and efficient software and simulations that make it easy for advisors to assess a client’s needs for specific lifetime income products. RetireUp’s solutions also transform complex financial concepts into easy-to-understand “big-picture” visuals, so advisors can help investors become active participants in their own financial futures. The entire RetireUp team will join Tegra118 as part of this transaction.

“We’re excited about our acquisition of RetireUp, a platform that helps advisors bring retirement income to the center of client conversations,” said Cheryl Nash, Chief Executive Officer, Tegra118. “In today’s climate, retirement income is top of mind. Advisors and investors benefit from richer discussions that provide a full picture of lifetime income from Social Security, annuities, pensions, insurance and other assets. This acquisition marks an important one in our growth story and is a testament to Motive Partners’ commitment to accelerate and advance Tegra118’s wealthtech platform.”

“RetireUp is a strong complement to Tegra118’s rapidly expanding suite of front office solutions,” said Alvi Abuaf, Industry Partner at Motive Partners and Board Member at Tegra118. “Its clean user interface helps advisors easily incorporate annuities into the overall financial planning process, for an experience that’s holistic, collaborative, and personalized. It’s especially useful during these turbulent times, as annuities become a more important component of investment portfolios given their security and predictability. The acquisition will also bolster Tegra118’s offerings in the growing Insurance Wealth Advisory segment. In sum, it exemplifies Motive Partners’ vision of investing in innovative tools and capabilities that better serve the needs of financial advisors and investors.”

“We’re thrilled to join the Tegra118 team,” said Michael Roth, RetireUp’s President. “Since 2012, RetireUp has supported insurance broker-dealers with a focus on annuity and financial planning advice. Joining forces with Tegra118, an established leader in the wealth management industry, is a logical and exciting next step that allows us to thoughtfully expand our footprint. Our combined offerings give Tegra118 an edge in addressing the growing market for lifetime income solutions.”

RetireUp Head of Technology Dan Santner commented, “RetireUp and Tegra118 bring unique strengths to the industry through proven, mission-critical technology that helps advisors enrich their client relationships through innovative, impactful solutions.”

Together with our clients, we at Tegra118 are building the future of wealth management technology, and RetireUp’s unique strengths will make our proven, mission-critical technology even stronger. Learn more at www.tegra118.com.

BusinessWire

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