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Platform delivers innovative product solutions and further enhances MassMutual s digital strategy and talent
Massachusetts Mutual Life Insurance Company (MassMutual) and Stone Ridge Asset Management (Stone Ridge), an asset manager with more than $10 billion in assets under management (AUM) that focuses on registered investment advisers (RIAs), institutions, and insurance companies, today announced that MassMutual and Stone Ridge Holdings Group have entered into a definitive agreement for MassMutual to acquire Flourish, a fintech platform for RIAs. Financial terms of the transaction are not being disclosed.
Flourish provides digitally enabled products and services to RIAs through various modules, including an established cash management offering, Flourish Cash. Flourish Cash is offered through Stone Ridge Securities LLC, Stone Ridge s registered broker-dealer, which MassMutual will acquire pending regulatory approval. Flourish s highly talented and experienced team is expect
MassMutual Set to Acquire Fintech Platform Flourish
Massachusetts Mutual Life Insurance Company (MassMutual) announced on Monday it has entered into a definitive agreement with
Stone Ridge Asset Management, an asset manager, to acquire
Flourish, a fintech platform for RIAs.
According to the duo, Flourish provides digitally enabled products and services to RIAs through various modules, including an established cash management offering, Flourish Cash. Flourish Cash is offered through Stone Ridge Securities LLC, Stone Ridge’s registered broker-dealer, which MassMutual will acquire pending regulatory approval.
“Today, Flourish services more than 350 RIAs representing more than $600 billion of AUM and is well positioned to seamlessly deliver additional, valuable services to RIAs and their clients. After the acquisition, Flourish will continue to serve RIAs, operating independently from MassMutual’s existing insurance and wealth management business. The team will focus on del