Principal Acquires RobustWealth

Principal Financial Group announced it will acquire RobustWealth, a digital wealth management platform it has been working with since August 2017. Based in Lambertville, NJ, RobustWealth was founded in 2015 by CEO & Founder Michael Kerins. According to LinkedIn, the company currently employs 47 people.

RobustWealth provides a suite of white label solutions for investment advisors including a digital advice platform, goal-based investment tools and efficient client on-boarding processes. With the acquisition, RobustWealth gains access to insights from Principal’s work with more than 16 million customers across the world, while Principal will be able to better serve its clients with leading digital advisory capabilities.

“We have to acknowledge people’s needs and wants: there is an unprecedented need for financial advice. And, in today’s fast-paced, always on, digital world, people have a strong desire for personalization, convenience and 24/7 access to their money. The role of the financial advisor – a real person across the table – remains critical. But, we must combine the best of people with the best of technology to meet clients when, where and how they want to be met. Adding RobustWealth’s digital capabilities to Principal’s deep industry knowledge, asset management experience and technology creates a powerful force to help clients in their quest to save more, invest more and protect more for their financial futures.” – EVP and CIO at Principal Financial Group, Tim Dunbar.

RobustWealth will remain under the management of Michael Kerins, as part of Principal, and will operate independently under a management committee within Principal.