The Charles Schwab Corporation (“Schwab”) today announced that it has entered into an asset purchase agreement to acquire the technology and intellectual property of Motif in an all cash transaction. Motif is a fintech pioneer that has combined breakthrough technology and data science to deliver customized thematic portfolios to investors. The acquisition will include all of Motif’s technology and intellectual property, including algorithms, patents and source code.
“Schwab shares our spirit and passion for making personalized investing easier and more accessible for all. We’re excited to join them in helping to shape the future of wealth management to better serve investors.”
“As a company with a deep history of innovating to improve the financial lives of investors, we are thrilled to bring transformative technology to Schwab to help our clients navigate their investment needs in a more personal way,” said Neesha Hathi, EVP and Chief Digital Officer at Schwab. “We continue to see an increasing number of clients interested in customizing their investing experience to suit their values, objectives and personal circumstances. We intend to leverage Motif’s platform to build on Schwab’s existing capabilities and help accelerate our development of thematic and direct indexing solutions for Schwab’s retail investors and RIA clients – all with the sophisticated digital experience our clients expect from Schwab.”
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Schwab will be hiring a majority of Motif’s development and investment talent. Founder and CEO, Hardeep Walia, will join Schwab as part of its acquisition-related hiring of Motif’s staff.
“For over a decade, Motif’s unwavering mission has been to introduce investors to the power of thematic investing. By combining data science and automation, we have developed an innovative and personalized investing platform that appeals to both individuals and advisors,” said Walia. “Schwab shares our spirit and passion for making personalized investing easier and more accessible for all. We’re excited to join them in helping to shape the future of wealth management to better serve investors.”
