Having invested in Lending Club (LC), Check (acq Intuit), and Future Advisor (acq BlackRock), I've always been interested in wealth management businesses. They represent one of the largest asset classes in the US economy, and a market where tech can both improve investment returns and minimize operational costs. Today, we want AI to solve EVERYTHING, but at the end of the day, wealth management is inherently human. Ritik Malhotra spent the time talking to 100+ advisors to understand precisely where AI can -- and should -- help advisors do what they do best (and supercharge the rest). Thrilled to back him and the team at Savvy Wealth as lead investor in their Series A, announced today in Fortune Term Sheet. (Thank you Allie Garfinkle for getting the story so so right!) This team has an all star cast and a proven track record in quickly scaling up to a platform supporting 30+ financial advisors that manage >$700M in client assets at a 5x YoY growth clip.
Human touch ... still needed (with a balance)
Looking forward to my next trip to NY to check out the new HQ!!!
Love this.
We're extremely grateful for your partnership, Rebecca Lynn! And we couldn't agree more about Allie Garfinkle! Excited for this next phase of growth ??
Exciting times ahead!
The future is very bright at Savvy!!!!! ??
Exciting to see AI merging with the human touch in wealth management, Rebecca Lynn
To infinity & beyond! ??
Senior Finance Reporter, Fortune | Writer, Term Sheet Newsletter
1 个月So great to meet you Rebecca and thanks for chatting!