Savvy Wealth Completes $11 Million Capital Raise

Latest round led by Cal Berkeley’s ‘The House Fund’ follows an initial $7M raise earlier this year

NEW YORK–(BUSINESS WIRE)–#CapitalRaiseSavvy Wealth, a digital-first platform for financial advisors centered around modernizing human financial advice, announced today that it has raised $11 million in Series A-1 funding led by The House Fund. Additional investors include Index Ventures and Thrive Capital, who also participated in its Seed round, as well as new investor Brewer Lane Ventures. The fresh capital demonstrates confidence in Savvy’s business model by new and existing investors that include founders of Plaid, Instacart, Figma, Opendoor, Flexport and several other strategic partners.

“Next-generation investors demand a tech-forward, personalized relationship with their financial advisor,” said Jeremy Fiance, Managing Partner of The House Fund. “This is a first-class team and product set that we believe will transform how financial advisors grow their business and serve their clients.”

This raise brings Savvy to $18M in new funding in less than a year, enabling the company to focus on developing modern software that promises to streamline and simplify marketing, compliance, and back-office operations for growth-minded financial advisors seeking to increase AUM. Savvy’s founding class of five financial advisors bring direct experience managing client assets at BNY Mellon, Merrill Lynch, Morgan Stanley, as well as independent RIAs across the country.

“Savvy exists with the sole purpose of empowering financial advisors to increase efficiency, scale revenue, and provide an unforgettable client experience,” said Ritik Malhotra, Co-Founder and CEO of Savvy. “Today’s advisors still rely on antiquated processes and outdated technology that ultimately lead to subpar client experiences. We’ve built a platform that provides what we believe is the right mix of seamless technology and superior support that allows advisors to do what they do best: serve their clients’ unique needs.”

Recent research from Vanguard and Escalent revealed that 93% of investors prefer having a human advisor. By championing innovation in a space rife with manual processes and onerous compliance red tape, Savvy’s aim is to modernize practice management and empower entrepreneurial financial advisors to build their businesses by providing an intentionally built, integrated technology platform that accelerates growth.

“Having spent more than two decades in the wealth management industry, I believe technology implementation will be a driver of success for financial advisors in the years to come,” said Eric Kirste, CFP®, CIMA®, AIF®, one of the initial five founding Principal Wealth Managers at Savvy. “Savvy truly understands the challenges in front of time-constrained advisors, and I’m excited to be a part of the modernization of financial advice.”

In the upcoming months, Savvy will onboard several new financial advisors to the platform and roll out its direct-to-consumer acquisition model to attract high-net-worth individuals and families. Advisors who partner with Savvy receive equity ownership similar to tech industry employees and founders. For more information on joining Savvy, please visit jobs.lever.co/savvywealth.

About Savvy Wealth

Savvy Wealth is a digital-first platform for financial advisors centered around modernizing human financial advice. Financial advisors who partner with Savvy leverage Its intentionally built, integrated technology platform to supercharge organic growth with enhanced software, and sales and marketing automation. Savvy’s proprietary technology empowers advisors to scale revenue faster and spend more time focused on growth. Follow Savvy on LinkedIn to stay up-to-date on the latest company news and updates.

Contacts

Media Contacts 

StreetCred PR 

savvy@streetcredpr.com

Will Ruben 

847-208-8289

william@streetcredpr.com

Jimmy Moock 

610-304-4570 

Jimmy@streetcredpr.com