Amerant in Fla. invests $2.5 million in robo adviser

Amerant Bancorp in Coral Gables, Fla., has invested $2.5 million in a robo adviser.

Marstone in New York said it raised $5 million in the latest phase of Series A financing. The company has now raised a total of $20 million, with the first close taking place in May 2020. 

The $7.8 billion-asset Amerant accounted for half of the funds invested in the latest phase, Marstone said in a Monday press release. Peter Kraus and John Thain were among the other investors. 

“The financial industry is in the midst of incredible transformation,” Margaret Hartigan, Marstone’s CEO, said in the release.

“Consumers are hungry for highly personalized, digital-first wealth and banking experiences that grow their financial understanding and empower them to make smarter, forward-looking decisions,” Hartigan added. “Financial institutions that can’t or won’t meet these needs will be surpassed by those that do.”

Amerant in May entered into a multi-year agreement with Marstone designed to boost the bank’s assets under management. Amerant, as an investor, will get to appoint a representative to Marstone’s board.

“We are excited to make this investment in Marstone and support its mission to make financial planning more attainable for everyone,” Jerry Plush, Amerant’s vice chairman and CEO, said in the release. 

“Marstone’s platform allows us to offer our customers a highly personalized, thoughtful, and specialized experience,” Plush added. “We look forward to further developing our relationship as Marstone continues to create an industry-leading financial ecosystem.”