Analysts see this investment as a major step for the online investment industry. “It’s the first time that any of the big six banks has made a strategic investment in a Canadian fintech company,” said Nest Wealth founder and CEO Randy Cass. Nest Wealth launched in Canada in 2013 and is now one of the largest among more than a dozen robo-advisors. The fintech does not disclose its assets under management, but Cass said they have grown “like a weed” by 300 per cent in the last 12 months.   “With this agreement, National Bank is increasing its digital services to end clients while continuing to emphasise the importance and value of financial advising relationships,” said Martin Gagnon, co-president and co-chief executive officer of National Bank Financial and executive vice-president of wealth management.

http://www.altfi.com/article/2880_national_bank_of_canada_invests_c6_m_in_robo_adviser_nest_wealth