The new research report on digital wealth management from Financial Technology Partners is a timely reminder of just how deep the firm’s dedication to and insight into the fintech world goes. And the fact that the report features a dozen Finovate and FinDEVr alums is pretty neat, too.
FT Partners’ report “Are the Robots Taking Over? The Emergence of Automated Digital Wealth Management Solutions” takes a look at the different platforms and business models digital wealth management companies are using, as well as the response by industry incumbents. The 140+ page report also features interviews with CEOs from leading major digital wealth management companies such as Betterment, Nutmeg, and SigFig.
Writing about the FT Partners report on digital wealth management for Bloomberg View columnist and money manager Barry Ritholtz noted:
“For those of you who may not have thought much about how technology might affect Wall Street, the work you do each day, and how you do it – not to mention what it means for your careers – this report is invaluable.”
Ritholtz outlined how his own experience as a money manager had been shaped by the rapidly changing technology landscape (“My office is small, but thanks to technology, and fintech in particular, we are able to be very productive with just 14 people,” he wrote). He also admits this productivity comes at a cost for some. “Those people who don’t adapt will find themselves with limited career options,” Ritholtz writes.
So who are the disruptors in the digital wealth management space of whom both FT Partners and Ritholtz speak?
- Founded in 2008
- Headquartered in New York, NY
- Jon Stein is CEO
- $205 million in capital raised
- FinovateFall 2011
- Founded in 2014
- Headquartered in San Francisco, CA
- Joseph Prather is Founder
- $250,000 in capital raised
- FinovateFall 2015
- Founded in 2010
- Headquartered in San Francisco
- Bo Lu is CEO
- Acquired by BlackRock, August 2015
- FinovateFall 2013
- Founded in 2009
- Headquartered in New York
- CEO
- $1.85 million in capital raised
- FinovateFall 2015
- Founded in 2011
- Headquartered in 2011
- Tom White is CEO
- $2.5 million in capital raised
- FinovateFall 2014
- Founded in 2008
- Headquartered in Los Altos, California
- Kevin Cimring and Michael Blumenthal are joint CEO
- Acquired by Invesco, January 2016
- FinovateSpring 2013
- Founded in 2009
- Headquartered in New York, NY
- Alexa von Tobel is Founder and CEO
- Acquired by Northwestern Mutual, March 2015
- FinovateFall 2013
- Founded in 2010
- Headquartered in San Mateo, California
- Hardeep Walia is CEO and Co-Founder
- $126.5 million in capital raised
- FinovateSpring 2014
- Founded in 2011
- Headquartered in London, UK
- Nick Hungerford is CEO
- $37.31 million in capital raised
- FinovateEurope 2012
- Founded in 2009
- Headquartered in Redwood City, California
- Bill Harris is CEO
- $175.3 million in capital raised
- FinovateSpring 2014 / FinDEVr San Francisco 2015
- Founded in 2007
- Headquartered in San Francisco, California
- Mike Sha is Co-Founder and CEO
- $49 million in capital raised
- FinovateFall 2011
- Founded in 2005
- Headquartered in Boca Raton, Florida
- Donato Montanaro is CEO
- Acquired by Ally Financial, April 2016
- FinovateSpring 2008
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