Advizr, a highly intuitive and automated financial planning application for advisors serving Gen X and Y clients, announces the close of another financing round and adds industry titans to its growing list of investors and advisory board.
‘We are extremely excited about this next chapter for Advizr’
Advizr has raised a total of $1.74M for this round, bringing Advizr’s total raise to $2.6M. The new funds will allow the company to accelerate its acquisitions of new RIAs and financial institutions that are looking to segment their businesses and serve more customers.
‘We are extremely excited about this next chapter for Advizr’, says Hussain Zaidi, Co-founder and CEO of Advizr. ‘As client facing financial advisors, and now startup entrepreneurs, we have always believed the majority of clients have been underserved by their advisors, specifically Gen X and Y. With our fully automated financial planning offering, we are empowering advisors and financial institutions to deliver comprehensive financial plans to all of their clients in an engaging and time efficient manner, regardless of the client’s net worth.’
Advizr proudly serves over 100 RIAs who have favored it over incumbent technologies. The number of advisors on the platform is expected to increase rapidly as larger enterprise contracts are finalized. In addition, the demand for such a solution from advisors is high as they look to compete with consumer facing Robo Advisors by offering tools that have compelling user experiences and self-directed workflows.
‘The digital generation valued their experience as much as they value features. The Advizr team has demonstrated an understanding of user experience and effective feature choice and it shows in their product. I believe they will be leaders in the financial planning tech space,’ says Steve Lockshin.
Advizr, through its patent pending technology, is recreating the discussion that would happen between a financial planner and its client. The applications for this level of automation are endless, allowing advisors who have previously engaged in investment management only to partake in financial planning topics such as retirement planning, education funding, large purchase goals and family protection planning. The technology is also ideal for larger enterprises that are looking to engage more customers through their self-directed channels such as their call centers, online sites and 401k offerings.
‘There has been substantial M&A activity in the financial planning tech space. Very few independent players stand today, creating a substantial opportunity for new, independent players. The market is prime for a solution that is new age, highly automated and directed to a large percentage of the market that are underserved,’ says Andy Putterman, previous CEO of Fortigent and Partner at 1812 Park.
Advizr is proud to announce the following key additions to the investor list and advisory board team: Steve Lockshin, founder of AdvicePeriod and co-founder of Fortigent, Andy Putterman, Partner at 1812 Park, LLC and the previous CEO and co-founder of Fortigent; Marty Bicknell, CEO of Mariner Holdings, the parent company of Mariner Wealth Advisors and Montage Investments, Ann Kaplan, a Partner at Circle Wealth Management and an early investor and previous chairman of the board of Learnvest, John Chrin, a Partner at Circle Wealth Management and early investor at Learnvest, Aron Miodownick, a partner at Cambrian Consulting, Brett Danko, renowned speaker and President of Main Street Financial Solutions and Fenway Summer Ventures, a VC firm focused on fintech.
‘Having had the opportunity to be part of a successful online financial planning venture, it is exciting to participate in yet another powerful solution that is helping more people achieve their financial objectives. Advizr has been developed by practicing Certified Financial Planners who understand this space well. This is a team that I am excited to bet on,’ said Ann Kaplan.
‘Advizr is a refreshing new player in the financial planning space with a comprehensive, online, easy to use, client centric product that enables advisors and individuals to take control of the financial planning experience. Advizr aims to demystify financial planning, in a way similar to how tax software has enlightened individuals and reduced the annual drudgery of filing taxes,’ said John R Chrin.
Advizr, based in New York, NY, is dedicated to creating software that will expand consumer and advisor access to high-quality financial planning services in an accessible format. The powerful, intuitive, interactive financial planning solution empowers advisors to serve their clients in a cost-effective way, regardless of net worth. To learn more about Advizr, please visit www.advizr.com.
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