Aquiline Acquires Controlling Stake in WealthTech Platform Flourish
Aquiline has agreed to acquire a controlling stake in Flourish, a wealth technology platform currently owned by MassMutual. The transaction is expected to close in the fourth quarter of 2026 after meeting regulatory and closing requirements. Following the deal, MassMutual will retain a significant ownership position. Flourish provides registered investment advisors with tools similar to those used in traditional banking for client services. It serves over 1,300 RIAs and has seen its assets under custody grow from $1 billion to $8 billion in five years. The company also recently launched a home-lending product tailored specifically for the independent advisor market. Aquiline plans to support Flourish's expansion by enhancing capabilities that help registered investment advisors compete with larger broker-dealers. David Canter, former head of Fidelity’s RIA and family office businesses, will join Flourish as executive chairman.
Topics: investment advisors private equity investment wealth technology