GeoWealth Secures Growth Investment Round Led by BlackRock
GeoWealth, a proprietary technology and turnkey asset management platform (TAMP), has secured an $18 million growth investment led by BlackRock (NYSE: BLK). The funding will support the continued development of GeoWealth's offerings, enabling advisors to meet client demand for a broader range of asset types in a unified account. Kayne Anderson Growth Capital and J.P. Morgan Asset Management also participated in the round.
The capital will be used to enhance GeoWealth's proprietary technology platform, including the development of unified managed account (UMA) capabilities, alternative investments reporting, and tax management functionalities. As of December 31, 2023, GeoWealth's platform supports over $28 billion in assets, with more than 180,000 accounts managed by nearly 200 registered investment advisors (RIAs).
GeoWealth, una piattaforma tecnologica proprietaria e di gestione patrimoniale chiavi in mano (TAMP), ha ottenuto un investimento di crescita di 18 milioni di dollari guidato da BlackRock (NYSE: BLK). Il finanziamento supporterà lo sviluppo continuo delle offerte di GeoWealth, consentendo ai consulenti di soddisfare la domanda dei clienti per una gamma più ampia di tipi di attivi in un conto unificato. Anche Kayne Anderson Growth Capital e J.P. Morgan Asset Management hanno partecipato al round.
I capitali saranno utilizzati per migliorare la piattaforma tecnologica proprietaria di GeoWealth, inclusa la sviluppo di capacità di conto gestito unificato (UMA), reporting sugli investimenti alternativi e funzionalità di gestione fiscale. A partire dal 31 dicembre 2023, la piattaforma di GeoWealth supporta oltre 28 miliardi di dollari in attivi, con più di 180.000 conti gestiti da quasi 200 consulenti di investimento registrati (RIA).
GeoWealth, una plataforma tecnológica propietaria y de gestión de activos llave en mano (TAMP), ha asegurado una inversión de crecimiento de 18 millones de dólares liderada por BlackRock (NYSE: BLK). La financiación apoyará el desarrollo continuo de las ofertas de GeoWealth, permitiendo a los asesores satisfacer la demanda de los clientes por una gama más amplia de tipos de activos en una cuenta unificada. Kayne Anderson Growth Capital y J.P. Morgan Asset Management también participaron en la ronda.
El capital se utilizará para mejorar la plataforma tecnológica propietaria de GeoWealth, incluyendo el desarrollo de capacidades de cuentas gestionadas unificadas (UMA), informes de inversiones alternativas y funcionalidades de gestión fiscal. A partir del 31 de diciembre de 2023, la plataforma de GeoWealth soporta más de 28 mil millones de dólares en activos, con más de 180,000 cuentas gestionadas por casi 200 asesores de inversión registrados (RIA).
GeoWealth는 독점 기술과 턴키 자산 관리 플랫폼(TAMP)을 운영하고 있으며, 블랙록(뉴욕 증권 거래소: BLK)이 주도한 1800만 달러의 성장 투자를 확보했습니다. 이 자금은 고객의 다양한 자산 유형에 대한 수요를 충족하기 위해 GeoWealth의 제공 서비스를 지속적으로 개발하는 데 지원할 것입니다. 케인 앤더슨 성장 자본과 J.P. 모건 자산 관리도 이번 투자 라운드에 참여했습니다.
자본은 GeoWealth의 독점 기술 플랫폼을 개선하는 데 사용되며, 통합 관리 계좌(UMA) 기능, 대체 투자 보고 및 세금 관리 기능의 개발이 포함됩니다. 2023년 12월 31일 기준으로, GeoWealth 플랫폼은 280억 달러 이상의 자산을 지원하며, 18만 개 이상의 계좌가 거의 200명의 등록 투자 고문(RIA)에 의해 관리됩니다.
GeoWealth, une plateforme technologique propriétaire et de gestion d'actifs clé en main (TAMP), a sécurisé un investissement de croissance de 18 millions de dollars dirigé par BlackRock (NYSE: BLK). Ce financement soutiendra le développement continu des offres de GeoWealth, permettant aux conseillers de répondre à la demande des clients pour une gamme plus large de types d'actifs dans un compte unifié. Kayne Anderson Growth Capital et J.P. Morgan Asset Management ont également pris part à ce tour de table.
Le capital sera utilisé pour améliorer la plateforme technologique propriétaire de GeoWealth, y compris le développement de capacités de comptes gérés unifiés (UMA), le reporting des investissements alternatifs et les fonctionnalités de gestion fiscale. Au 31 décembre 2023, la plateforme de GeoWealth supporte plus de 28 milliards de dollars d'actifs, avec plus de 180 000 comptes gérés par près de 200 conseillers en investissement enregistrés (RIA).
GeoWealth, eine proprietäre Technologie- und Turnkey-Asset-Management-Plattform (TAMP), hat eine Wachstumsinvestition in Höhe von 18 Millionen Dollar gesichert, die von BlackRock (NYSE: BLK) geleitet wird. Diese Finanzierung wird die fortlaufende Entwicklung der Angebote von GeoWealth unterstützen und es Beratern ermöglichen, die Kundenanforderungen nach einer breiteren Palette von Vermögenswerten in einem einheitlichen Konto zu erfüllen. Auch Kayne Anderson Growth Capital und J.P. Morgan Asset Management haben an dieser Runde teilgenommen.
Das Kapital wird verwendet, um die proprietäre Technologieplattform von GeoWealth zu verbessern, einschließlich der Entwicklung von fähigkeiten für einheitliche verwaltete Konten (UMA), Berichterstattung über alternative Investments und Funktionen zur Steuerverwaltung. Zum 31. Dezember 2023 unterstützt die Plattform von GeoWealth über 28 Milliarden Dollar an Vermögenswerten, mit mehr als 180.000 Konten, die von fast 200 registrierten Investmentberatern (RIA) verwaltet werden.
- Secured $18 million growth investment led by BlackRock
- Platform supports over $28 billion in assets
- Manages more than 180,000 accounts for nearly 200 RIAs
- Continued development of UMA capabilities and alternative investments reporting
- None.
Insights
GeoWealth's
The investment will primarily fuel GeoWealth's technology development, focusing on enhancing their unified managed account (UMA) capabilities and expanding functionalities for alternative investments reporting and tax management. These improvements are important in today's complex financial landscape, where advisors need robust tools to manage diverse asset types efficiently.
GeoWealth's platform currently supports over
The involvement of BlackRock, the world's largest asset manager, as a lead investor is particularly noteworthy. This partnership could potentially open doors for GeoWealth in terms of product integration and distribution channels, giving them a competitive edge in the TAMP market.
While the investment is promising, investors should monitor how effectively GeoWealth utilizes this capital to enhance its offerings and expand its client base in the highly competitive wealth management technology sector.
GeoWealth's focus on developing a proprietary unified technology platform is a strategic move in the evolving wealth management tech landscape. The
Key areas of development include:
- Enhanced UMA capabilities: This will allow for more sophisticated portfolio construction and management, catering to the growing demand for personalized investment solutions.
- Alternative investments reporting: As alternative assets become more mainstream, this feature will be critical for RIAs serving high-net-worth clients.
- Improved tax management functionalities: In an environment of changing tax regulations, robust tax management tools can be a significant differentiator.
The emphasis on flexibility, customization and user-friendliness in their platform development aligns well with the needs of RIAs, who often require adaptable solutions to serve diverse client bases.
However, GeoWealth faces stiff competition from established players and well-funded startups in the wealth tech space. Their success will depend on how quickly and effectively they can roll out these new features and how well they can integrate with existing advisor workflows and systems.
The partnership with BlackRock could potentially provide GeoWealth with access to cutting-edge financial technologies and data analytics capabilities, which could be a game-changer if leveraged effectively.
Funding to fuel continued investment in GeoWealth’s proprietary unified technology platform, supporting a wide array of investment use cases for RIAs
“We’re thrilled to enter this next phase of our growth journey with the backing of BlackRock as a strategic partner and investor,” said Colin Falls, Chief Executive Officer of GeoWealth. “As we continue to invest in our proprietary technology, we will build new offerings that provide RIAs with a flexible, customizable and user-friendly platform. We’re deeply appreciative of our capital partners for their continued support of our business and growth ambitions.”
The capital will also be used to facilitate new growth initiatives led by EVP, Chief Growth Officer Brendan Falls and new product initiatives led by EVP, Chief Product Officer Cliff Schoeman. Planned product enhancements include the continued development of unified managed account (UMA) capabilities and functionalities that support alternative investments reporting and tax management. These enhanced offerings are all designed to optimize the user experience for advisors, enabling them to provide flexible investment solutions to the clients that they serve.
“RIAs are in the DNA of GeoWealth. This investment and partnership emphasize our commitment to continual innovation for the benefit of RIAs, delivering more scalability, flexibility, customization and exceptional service,” said Jack Hannah, President & Chief Operating Officer.
As of December 31, 2023, GeoWealth’s platform supports more than
About GeoWealth
GeoWealth is a turnkey asset management platform (TAMP) and financial technology solution built specifically for the needs of modern RIAs. GeoWealth’s user-friendly, cost-efficient, integrated technology enables advisors to access a diversified lineup of model portfolios and offload mid-and back-office responsibilities, including performance reporting, billing, portfolio accounting and more. Via its customizable open-architecture platform, GeoWealth enables advisors and firms to grow faster and serve clients more efficiently. Founded in 2010, GeoWealth is headquartered in
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Source: GeoWealth
FAQ
How much funding did GeoWealth secure in its latest investment round led by BlackRock (BLK)?
What will GeoWealth use the new funding for?
How many assets does GeoWealth's platform support as of December 31, 2023?
Who are the other investors participating in GeoWealth's latest funding round besides BlackRock (BLK)?
