Houlihan Lokey Advises RetireUp

Houlihan Lokey is pleased to announce that RetireUp has been acquired by Tegra118, a portfolio company of Motive Partners. The transaction closed on June 9, 2020.

Founded in 2013 by a team of financial advisors, RetireUp boasts nimble and efficient software and simulations that make it easy for advisors to assess a client’s needs for specific lifetime income products (such as annuities and life insurance). RetireUp’s unique solutions also transform complex financial concepts into easy-to-understand “big-picture” visuals, so advisors can help investors become active participants in their own financial futures. RetireUp is headquartered in Illinois, and the entire team will be joining Tegra118.

Tegra118 is an industry-leading provider of software solutions to the wealth and asset management industry with a vast network of broker-dealers, asset managers, and custodians and trading interfaces. Formerly Fiserv Investment Services, Tegra118’s technology platform provides portfolio management, trading, accounting, rebalancing, and reporting for managed accounts. Tegra118 also provides modular, goals-based financial planning, performance reporting, and fee billing software for financial advisors and asset managers using modern API-based open technology. Tegra118 is committed to delivering powerful solutions that set a new standard for how people interact with, manage, and grow their wealth. The acquisition of RetireUp will accelerate and advance Tegra118’s wealth tech platform.

Tegra118 is a Motive Partners company, a specialist private equity firm with offices in New York City and London, focused on technology-enabled business and financial services companies. Motive Partners acquired a 60% stake in Tegra118, the Investment Services business of Fiserv, Inc. (NYSE:FISV), in February 2020.

Houlihan Lokey served as the exclusive financial advisor to RetireUp and assisted in marketing, structuring, and negotiating the transaction with Motive Partners, and was able to successfully navigate a challenging market environment amid COVID-19. The transaction highlights Houlihan Lokey’s leading position as an advisor to the insurance sector and its intersection with the financial and wealth technology sectors.