Nuula, a fintech company focused on providing small businesses with the tools and the capital they need to succeed, announced that it is partnering with OneVest to launch an integrated Wealth Management feature within the Nuula app designed to serve the needs of entrepreneurs.
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Small business owners are typically solely responsible for their own wealth management. From retirement, to investing, to planning for major life events, they do not have the benefit of employer programs. Furthermore, wealth management is complicated by the fact that often small business owners’ wealth is tied solely to their business. According to Forbes, one third of small business owners do not have a retirement savings plan at all.
Nuula is launching a new wealth management service to give small business owners a way to help diversify their wealth, and plan for critical milestones in their lives like retirement, buying a home, or expanding their family.
Nuula chose OneVest because it provides a highly competitive private wealth management service that offers a straightforward goals-based approach that can be matched to the risk profile, age and stage of the entrepreneur, in addition to flexible access to capital, all of which are critical to small business owners.
Nuula users will now be able to fund an investment account, set goals, and track their progress. What is more, the feature provides users with a fully automated, activity managed, goals-based investment experience, personalized to them.
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“Private wealth management – a service typically reserved for high-net-worth individuals – is now available to small business owners and entrepreneurs on the Nuula app,” said Mark Ruddock, CEO at Nuula. “Small business owners can easily invest towards clear goals like retirement and avoid the risks implicit in having all of their capital tied up in their business. The solution is fully integrated within Nuula, so our customers can manage their business and their investments in one place. We want to empower small business owners to be successful in all aspects of their lives and helping them build wealth is an important part of that.”
“OneVest, embedded into the Nuula app, provides a simple way for users to design smarter investment portfolios aligned to what matters to them,” said Amar Ahluwalia, Co-founder, and CEO at OneVest. “We are excited to partner with Nuula and bring small business owners and entrepreneurs an effortless way for them to grow their investments while reducing risk.”
Nuula’s wealth management service will allow small businesses to set specific investment goals and milestones; watch the performance of their investments, which are actively managed and automatically rebalanced on their behalf; and potentially benefit from sophisticated investment solutions that are comprised of unique asset classes and investment strategies
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