Aquiline to Invest in Flourish, a Leading Wealthtech Platform for Independent Advisors

Industry veteran David Canter to join board

NEW YORK, Sept. 2, 2026 /PRNewswire/ -- Aquiline today announced that it has entered into a definitive agreement to invest in Flourish, an innovative wealthtech platform currently owned by MassMutual, which equips Registered Investment Advisors ("RIAs") with private-bank-like solutions to deliver better results for their clients. The transaction is expected to close in the fourth quarter of 2026, subject to customary closing conditions and regulatory approvals. Following closing, Aquiline will hold a controlling interest in Flourish, while MassMutual will retain a significant stake.

Based in New York, Flourish serves as a growth engine for more than 1,300 RIAs. Having grown assets under custody in its advisor-led cash-management solution from $1 billion to $8 billion in five years, Flourish recently launched the first home-lending solution designed exclusively for the independent advisor channel.

Aquiline will work with Flourish to build upon the company's successful record of addressing the evolving needs of the independent advisor through innovative functionality and capabilities, empowering RIAs to compete with large broker-dealers and wirehouses. Aquiline's experience investing across wealth, retirement, and investment technology and its track record of scaling go-to-market and backing consumer-friendly innovation in financial services were key to MassMutual's decision to select Aquiline as a partner. Past Aquiline investments in the wealth and retirement space include Ascensus, Assetmark, RIA-in-a-Box, and Sageview.

David Canter, who previously led Fidelity's RIA and Family Office segments, will join the Flourish board as executive chairman.

Charles Janeway, Principal at Aquiline, said: "Under MassMutual's ownership, Flourish has built a following that includes some of the largest and fastest-growing RIA firms. We look forward to putting our network and experience in wealth management to work on Flourish's behalf."

Max Lane, CEO of Flourish, said: "Flourish was built on a single insight: identify where clients' financial lives spill outside the traditional advisory relationship and help advisors grow by bringing those assets into their orbit. As we enter this next chapter with Aquiline's strategic backing, we are positioned to move even faster and better to serve the independent advisor market. This new structure preserves our deep, ongoing relationship with MassMutual while providing the agility to accelerate our roadmap and deliver the next generation of products that independent advisors need to succeed."

David Canter, incoming Flourish Executive Chairman said: "I am delighted to join Flourish as the firm continues to develop its proposition for independent advisors. Cash management and lending solutions are key foundational components of a comprehensive wealth management platform. In an increasingly competitive advisor landscape, Flourish's solutions enable independent advisors to more effectively respond to clients' needs by actively engaging in their clients' most meaningful financial decisions while protecting and growing their practices."

Aaron D. Grey, Chief Experience Officer of Focus Financial Partners, a longstanding Flourish client, said: "Flourish has worked with Focus advisors for years, built on a shared conviction that comprehensive advice means considering every part of a client's financial life, not just their portfolio. As Flourish builds out Lending alongside Cash, our advisors are equipped to serve as a primary point of contact for clients across their financial needs, rather than splitting that role with a bank. We believe this new backing can help Flourish innovate quickly, creating additional opportunities for our advisors and clients who work with them."

Paul LaPiana, CFP, Head of Brand, Product, and Affiliated Distribution at MassMutual, added: "This transaction reflects our strong confidence in Flourish's future and its path for continued growth. By welcoming Aquiline as an investor and building on MassMutual's continued support and ownership, we believe Flourish will be even better positioned for long-term success."

Wells Fargo acted as Exclusive Placement Agent and Financial Advisor to Flourish and MassMutual.

About Aquiline

Aquiline is a global private investment firm with offices in New York, London, and Philadelphia that focuses on financial services and technology. As of March 31, 2026, Aquiline had approximately $11 billion of assets under management and deployed approximately $8.4 billion of capital across the firm's strategies since inception.

For more information about Aquiline, its investment professionals, and its portfolio companies, visit www.aquiline.com.

About Flourish

Flourish is the growth engine for RIAs that empowers advisors to give their clients a private-bank-like experience. Through high-yield cash accounts and exclusive home lending, Flourish helps RIAs unearth new assets, defend against asset loss, and better compete with wirehouses and banks. The platform has driven over $1 billion in net new flows to custodians and holds more than $8 billion in assets under custody. Flourish works with more than 1,300 RIA firms representing over $2.6 trillion in AUM, including Focus Financial, Carson Group, and Mariner Wealth Advisors. For more information, visit www.flourish.com.

SOURCE Aquiline Capital Partners LP