National Bank has made a $6 million investment in Toronto-based robo-advisor Nest Wealth. ( Toronto Star File photo )National Bank has made a $6 million investment in Toronto-based robo-advisor Nest Wealth, a major step for one of Canada’s big banks moving into the rapidly growing online investment industry. In a separate agreement announced Friday, Nest Wealth has also licensed its investment technology to National Bank to set up a digital platform to help the bank’s advisors manage clients’ money. Nest Wealth launched in Canada in 2013, and is one of the largest among more than a dozen robo-advisors that have sprung up in recent years as the trend toward online wealth management gathers steam. Torstar Corp., owner of the Toronto Star, also has a minority stake in Nest Wealth.

Source: thestar April 21, 2017 14:03 UTC