Principal Financial Group has made a “strategic business decision” to close down its RobustWealth subsidiary, the digital advice startup company that it acquired in 2018, Digital Insurance journal reported. Principal made the decision after it completed its acquisition of the remaining shares of RobustWealth on June 4, according to a message to clients obtained by the industry journal. In a statement to Digital Insurance, Principal said the shutdown is part of a transition, and that it acquired full ownership of RobustWealth “to better integrate its technology, capabilities, and talent into the organization to drive value across the organization through innovation and the evolution of our digital advice and automated investment technologies.” RobustWealth managed $856 million across nearly 7,000 client accounts, with a declining market share that dropped to 0.19% among online portfolio management tools.