View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
November 5, 2021

GeoWealth raises $19m to drive product expansion and distribution

By Verdict Staff

GeoWealth, a modern turnkey asset management program (TAMP) built for advisers, has raised a $19m in Series B funding round led by Kayne Partners Fund.

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

The firm also secured a follow-on investment from JP Morgan Asset Management, which led its Series A funding in December 2018.

GeoWealth combines its proprietary, integrated technology with a high-touch outsourced service model, enabling advisors to focus on relationships with clients.

Since 2018, the platform assets have surged more than 300% to $16.7 bn and AUM has increased over 700% to $7.3bn.

GeoWealth will use the fresh capital to expand its product, engineering, and distribution teams.

Kayne Anderson Capital Advisors managing director of growth equity Robert Shilton said: “GeoWealth’s rapid growth is a reflection of its exceptional ability to solve the challenges facing financial advisors today.

“Whether it’s flexible investment solutions, a modern back office, or an elevated client experience, GeoWealth stands apart from legacy providers by combining the best of SaaS and an outsourced investment platform.

“We believe GeoWealth is at the cusp of what could be explosive growth, and Kayne is committed to bringing our firm’s full suite of capabilities and expertise to support GeoWealth in the coming years.”

GeoWealth president Colin Falls said: “It was apparent from our initial meetings with the Kayne team that they were the right partner for our next phase of growth.

“We are excited to immediately deploy this growth capital to pursue our most important strategic priorities: accelerating product development to meet the evolving needs of our clients and expanding our distribution team to ensure that all RIAs have access to GeoWealth.”

Recently, Chilean fintech startup Fintual secured $39m in a new funding round to further accelerate its business operations in Mexico.

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Private Banker International