A scalable approach to digital client acquisition is an important lever for the wealth management industry and we believe that SmartAsset has the widest reach and the most advanced capabilities in this space,” said Rudy Adolf, Founder and CEO of Focus. “SmartAdvisor is an innovative platform that delivers customized and qualified client leads to fiduciary financial advisors. “This investment will help us to accomplish our mission of becoming the web’s premier resource for financial tools and information resources.” We have a shared mission to connect investors with financial advisors and we could not be happier to have the support of investors who bring with them the expertise and acumen needed for us to further accelerate our growth,” said SmartAsset’s CEO and Co-Founder Michael Carvin. “We are delighted to team up with Focus given their leadership position in the RIA industry and their history of promoting growth for their entrepreneurial partners. Focus Co-Founder Rajini Kodialam and Principal Eric Amar will join the SmartAsset Board as a member and an observer, respectively. The capital injection aims to fuel the growth of the proprietary “SmartAdvisor” platform, which connects qualified investors with financial advisors. SmartAsset is a Y Combinator company founded in 2012, providing personal finance tools and information resources to more than 45 million people each month. The deal marks Focus’ first direct investment in FinTech and demonstrates Focus’ commitment to provide value added growth support to its partner firms while supporting innovation in the wealth management space.įocus invested in SmartAsset’s series C funding totaling $28 million, along with Javelin Venture Partners, TTV Capital, IA Capital and Citi Ventures among others. New York, NY – J– Focus Financial Partners (‘Focus’), a leading partnership of independent, fiduciary wealth management firms, today announced its minority investment in SmartAsset, a New York-based FinTech company, which connects prospective clients with financial advisors and provides tools to help people make financial decisions. The company helps millions of people make better financial decisions while simultaneously enabling advisors to grow their business.” -Mark Johnson, Partner at TTV Capital.Investment Enhances Value Added Business Development Support for Focus Partner Firms by providing an incredibly valuable resource for both consumers and financial advisors alike. With this funding, SmartAsset plans to invest in improving the user and matching experiences for both consumers and financial advisors. “SmartAsset is quickly expanding its lead in one of the largest markets in the U.S. With this additional capital we are going to make further investments in building the web’s best personal finance resource and enhancing our ability to connect consumers to financial advisors across the U.S.” – Michael Carvin, Founder and CEO of SmartAsset. “Our mission is to help people get better financial advice. ![]() In addition, financial advisors and firms on its wealth management referral platform, SmartAdvisor, now generate $1.5 billion in new, closed assets under management (AUM) per month. Since raising its Series C in June of 2018, SmartAsset has grown revenue by 10 times and is on the cusp of $100 million in annual recurring revenue (ARR). SmartAsset reaches more than 100 million people each month through its personal finance content, custom tools and personalized calculators. The financing round was led by existing investor TTV Capital with participation from Javelin Venture Partners, Contour Venture Partners, Citi Ventures, New York Life Ventures, North Bridge Venture Partners, and CMFG Ventures. Smartasset SmartAsset raises $110 millionĪnnounced that it has closed a $110 million Series D round, valuing the company at over $1 billion.
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