WBI’s affiliate CyborgTech, the technology firm that developed Cy, an award-winning advisor-assisted robo advisory platform, announced today that it is acquiring Fortuna, a Toronto based FinTech specializing in sales enablement and client communication technology for financial advisors. Through the transaction CyborgTech will be acquiring Fortuna360, a video relationship management platform for financial professionals. The platform enables collaboration in a secure and efficient manner that fosters lasting client relationships through increased client connectivity. As part of the acquisition, Cy will also acquire Fortuna’s Client Acquisition Platform which helps to connect consumers with financial advisors. In 2021 and 2022, Cy was selected as the winner of the “Best Robo Advisory Platform” by FinTech Breakthrough, an independent market intelligence organization that recognizes the top companies, technologies, and products in today’s global FinTech market. Cy is an enterprise grade robo advisory platform that pairs human financial advice with machine optimized portfolios. Cy is a Cloud based all-in-one, investor-centric platform offering complete client profiling and benchmarking, a required rate of return calculator, loss simulator, advanced portfolio optimization, digital onboarding and back-office service. Fortuna has won numerous industry awards representing Canada at the global stage. Fortuna was one of the winners of the Bank of Montreal-DMZ Fintech accelerator program soon after inception and most recently selected as part of an exclusive group of Top FinTech Startups in Canada for 2021. “Over the last few years, Cy has partnered with Fortuna to digitize our marketing and sales outreach. We are excited to acquire the sales enablement and client communication platforms from Fortuna. This technology will give Cy and the advisors using the platform the tools to supercharge growth and efficiently scale their business,” said Matt Schreiber, CEO of CyborgTech. “About 5 years ago, the Fortuna team came together with a mission to connect advisors with high-net worth prospects. Since then, we’ve helped 1000s of financial advisors with an entirely new way to get in front of new clients. The fact is that post-pandemic the vast majority of client acquisition begins online. Today, we’re very excited to announce this acquisition to further our original mission. Cy has built a platform to onboard this client base in a seamless manner. It’s a natural fit, we’re very excited to give end consumers direct access to investment management,” said Omer Jamal, CEO of Fortuna. Cy is expected to embed Fortuna’s technology to further streamline the financial advisor’s business practice, digitize wealth management and improve client investment outcomes. The economics terms of the acquisition were not disclosed.
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