CAPITAL ONE FINANCIAL CORP acquired United Income for Not disclosed, a transaction announced in August 2019.
United Income operates in Wealth management / fintech, is based in Washington, D.C., USA. Capital One acquired United Income, a Washington, D.C.-based digital wealth-management and retirement-planning platform for households nearing or in retirement, after having taken at least a 10% stake in the company the prior year. United Income helps retirement-age savers manage and draw down their wealth and continued to operate under its existing management team after the deal. Terms were not disclosed. (Announced August 2019; no dedicated SEC filing located.)
Adds a retirement-focused digital wealth-management platform, extending Capital One's consumer financial-services capabilities.
A retirement-planning technology and team in a growing digital-advice segment. Adds wealth-management and retirement-planning capability to Capital One's consumer franchise. Continued operating independently under its existing management team.
Advisory firms were not disclosed for this transaction.