US fintech Marygold & Co. (MGUK), the acquisition arm of parent company The Marygold Companies (TMC), has acquired Tiger Financial & Asset Management, a UK-based investment advisor, for an undisclosed sum.
Based in Northampton, England, Tiger has approximately £42 million in assets under advice. The firm’s core business is managing clients’ financial wealth across a range of products.
MGUK says it intends to leverage the proprietary fintech capabilities of US global holding company TMC, currently in development, and provide ‘bionic’ wealth management services to UK clients through a combination of app-based functionality enriched by access to qualified financial advisors.
Marygold CEO Matthew Parden says: “The acquisition of Tiger is a very important first step for Marygold in the UK, giving us the initial regulatory license to be able to grow and expand our advice services to new clients.
“We are hugely encouraged by the coming opportunity to leverage our highly transformative fintech capabilities within the UK financial advice market, which is ripe for change.”
Tiger founder Keith Halford says the company’s team will remain with the company and will continue “to advise Tiger’s clients and maintain the high standards of service they have come to appreciate”.