With the country’s economy struggling, many Spaniards are looking to diversify their wealth.
But a wealth management service provider is trying to bring them closer together.
Carnegie Wealth, which operates in the U.K., said in a report last week that it will launch a Spanish-language online platform, called MBIG, in December.
The startup will sell a number of tools and services to the Spanish-speaking population, including a wealth manager, a tax planner, a retirement plan and a wealth advisor.
Carnegie Wealth is partnering with the investment firm Viva Capital and the company’s founders are Mark Merton and Joaquin Solórzano.
Merton and Solóruzano are best known for their wealth management business, MBIM, which was bought by Swiss investment firm Fidelity in 2014.
They have a history of investing in Latin America, where they have diversified their investments to include real estate, real estate investments and stocks.MBIG will offer the tools and solutions offered by Carriage Wealth, a wealth transfer platform that Merton founded in 2010.
The platform will help users manage their finances in the Spanish language.
“We believe that we can make the Spanish financial system more accessible and understandable for Spanish-speakers,” Merton told Bloomberg News.
“Our vision is to help Spanish-people understand their financial situation and to simplify the financial lives of millions of Spanish-citizens.”
Carriage Wealth said it aims to launch its Spanish-based service in Spanish by the end of the year, but Merton declined to give specific dates.MONEY FROM BRIEF INTRODUCTION”We’re bringing together the most innovative and successful entrepreneurs and investors in Spain and in the world to bring our ideas to life,” Solórdo told Bloomberg.
“This is going to be a new opportunity for the Spanish people, the Spanish economy and for the whole of Europe.”MBIIG, which has raised $3.5 million from Fidelity Investments, has already invested in several Spanish-focused businesses.
In 2016, the company invested in a new technology incubator called Espace de Autos, which aims to make it easier for people to start their own businesses in Spain.
The company also has investments in online investment platforms and a mobile banking company called Crede.
MBII is planning to expand into other markets in the coming months.