In the latest incidence of insurance companies acquiring technology companies to jumpstart innovation, John Hancock has acquired Guide Financial Inc., a software provider that enables investors to make better financial decisions and build wealth utilizing artificial intelligence, behavioral finance and advisor integration, John Hancock said. Terms were not disclosed.
"This partnership brings together John Hancock's resources and deep experience supporting financial professionals with Guide Financial's innovative financial advisory technology, thought leadership and software development expertise," Ramza said. "John Hancock is committed to driving ongoing innovation for advisors, and we are pleased to welcome the Guide Financial technology and management team into our family of companies as a part of that long-term commitment."
See also: Insurance Technology M&A: 10 Key Deals
Guide Financial will continue to operate independently and will report to Tim Ramza, SVP of wealth business development and strategy for John Hancock.
The partnership will offer Guide Financial the additional resources to development its web-based software portal for independent financial advisors, John Hancock said.
"We look forward to enhancing our support of independent advisors across the country who have responded so favorably to our product,” said Ramza. "Over time, the partnership will enable both companies to collaborate and explore opportunities to build innovative technology solutions for providers of financial products and advice, and even further enhance the advisor and customer experience. We are also excited by the opportunity to explore how behavioral finance concepts and advanced technologies can be integrated with John Hancock's current products and services."
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