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Nuula adds wealth management to its list of financial products

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By Edlyn Cardoza

Today

  • Capital
  • FinTech
  • Investment Portfolio

Nuula, a FinTech company focused on providing small businesses with the tools and the capital they need to succeed, recently announced that it is partnering with OneVest to launch an integrated Wealth Management feature within the Nuula app designed to serve the needs of entrepreneurs.

Small business owners are typically solely responsible for their wealth management, and they do not benefit from employer programs from retirement to investing to planning for major life events. Furthermore, wealth management is complicated because small business owners’ wealth is often tied solely to their business. According to Forbes, one-third of small business owners do not have a retirement savings plan at all.

Nuula is launching a new wealth management service to give small business owners a way to help diversify their wealth and plan for critical milestones like retirement, buying a home, or expanding their family.

Nuula chose OneVest because it provides a highly competitive private wealth management service that offers a straightforward goals-based approach that can match the entrepreneur’s risk profile, age and stage, and flexible access to capital, all of which are critical to small business owners.

Nuula users will now be able to fund an investment account, set goals, and track their progress. The feature provides users with a fully automated, actively managed, goals-based investment experience, personalised to them.

“Private wealth management – a service typically reserved for high-net-worth individuals – is now available to small business owners and entrepreneurs on the Nuula app,” said Mark Ruddock, CEO of Nuula. “Small business owners can easily invest towards clear goals like retirement and avoid the risks implicit in having all of their capital tied up in their business. The solution is fully integrated within Nuula, so our customers can manage their business and their investments in one place. We want to empower small business owners to be successful in all aspects of their lives and helping them build wealth is an important part of that.”

“OneVest, embedded into the Nuula app, provides a simple way for users to design smarter investment portfolios aligned to what matters to them,” said Amar Ahluwalia, Co-founder and CEO at OneVest. “We are excited to partner with Nuula and bring small business owners and entrepreneurs an effortless way for them to grow their investments while reducing risk.”

Nuula’s wealth management service will allow small businesses to set specific investment goals and milestones; watch the performance of their investments, which are actively managed and automatically rebalanced on their behalf; and potentially benefit from sophisticated investment solutions comprised of unique asset classes and investment strategies.

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