Bionic Turtle Has Been Acquired by CeriFi

We wanted to share some exciting news: Bionic Turtle has been acquired by CeriFi. You can read the press release here…s-acquisition-of-bionic-turtle-301242071.html.

David started BT over 15 years ago (yikes!). His original vision was to build an entire online school. He started with the FRM because he loves finance and the FRM seemed to be perhaps the most difficult professional financial certification/designation (at the time, he had earned the CFA and the FRM for self-learning purposes). In truth, he did not intend to be exclusively focused on the FRM the whole time. But he actually enjoyed going deep and building this forum community, so those things took priority over “scaling” into other exams. We each have strengths and weaknesses. David is firstly a teacher and expert technician who loves to study risk; who loves to practice the art/science of investing and who wants to advance my own data science skills. Building a business requires an entire set of additional competencies. Some of these are frankly not my strong suit. Having realized that we (David and Nicole) needed help to grow and reach more learners, years ago David began to have conversations with potential partners. The team at Leeds Equity ( really impressed him with their track record and their vision of disrupting financial education. They started the new company by acquiring Dalton Education ( and these folks are simply the best at what they do. It’s really important to us that we joined a company with good values, which is the case here. And of course, we want to be the best. Dalton is easily the best CFP exam prep provider with deservedly the largest market share (but also see And Investopedia just ranked us #1 in the FRM (see; we are grateful this reviewer really dug into the details for his comparison) so you can see that we are building a truly world-class organization!

What does this imply in the meantime? In the immediate, there is no big change. Over time, improvements both small and big will manifest. David and Nicole are still working hard on the 2021 material updates and support. We are both committed to the next stage of growth. We’ve already added a CFA product. Thank you for your support over the years.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recent Posts

Introduction to the Quantitative Foundation of Risk – Present Value

A common question asked by FRM candidates (and people who are considering whether to sit for the FRM exam) is, where can I find an...

Read More

Week in Financial Education (June 28, 2021)

Welcome to the latest WIFE. For Part 1, we wrote a new set of insurance company practice questions (PQs). I was recently asked how much...

Read More

A Note about Delta-Gamma Value at Risk (VaR) as Taylor Series

Alberto asked a good question here about using the delta-gamma formula to estimate the VaR of an option position. Lu Shu (lushukai) gave an excellent reply...

Read More