Northern Trust Buys a B2B Robo. Will it Succeed?
In a sign of the times, asset manager Northern Trust recently acquired an RIA so that it could own the digital advice platform the advisory custom built.
Its purchase of Belvedere Advisors includes the robo service Emotomy that also has functionalities of a TAMP. It’s an open-architecture system. The product will also provide access to multiple custodians and will allow advisors to either choose pre-constructed models or create their own.
The deal between Northern Trust and Belvedere Advisors is expected to close by the end of the year, the company stated. The price of the purchase and the terms were not disclosed.
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