Savvy Wealth Raises $26.5 Million Series A to Redefine Wealth Management Technology (and Turns Three 🥳).
Today, I’m excited to share that Savvy Wealth has raised a $15.5 million Series A-2 funding round, completing our $26.5 million Series A led by Canvas Ventures, with participation from Thrive Capital, Brewer Lane, Index Ventures, and others. Since starting on this journey three years ago, this brings our total funding to over $33 million.
Reaching this milestone as we celebrate Savvy Wealth’s 3rd birthday is particularly meaningful. It’s incredible to reflect on how we’ve grown from our small NYC apartment company HQ with nothing but an UberEats account and a dream, to adding a thriving affiliated investment advisory firm with over 30 exceptional financial advisors managing $700M+ in client assets across the nation. With $1 billion of AUM in our sights, we’re striving to deliver exceptional value to both our advisors and their clients. This achievement is a testament to the hard work and dedication of the Savvy team, and I’m more confident than ever that this is only the beginning.
Savvy Wealth was born to provide technology-enabled solutions for the wealth management industry that eliminates the painful, middle and back office tasks and workflows that take away precious time from financial advisors (time that could be better spent in front of their clients). Today, the vast majority of advisors spend roughly 40% of their time on these tasks and workflows. Another 10+ hours of their time per week is spent on marketing themselves to build their personal brands and drive client prospecting. It’s no wonder the wealth management industry feels broken.Â
There are three distinct reasons why:Â
- Lack of technology & automation: Advisors need tools to save time on middle and back-office workflows.
- Limited access to financial products: Advisors feel constrained by a limited set of products and services they can offer due to outdated rules & processes.
- Insufficient marketing support: Advisors have to fight for themselves when it comes to compliance. Even when equipped with the right marketing tools, the time and know-how to use them effectively is missing.Â
Savvy Wealth addresses these pain points with a level of focus and tenacity that flows down to our org chart:
• Our Engineering, Product, and Design teams tackle the technology challenges.
• Operations ensures advisors have access to a wide range of financial products.
• Our Marketing team provides comprehensive, agency-style support to help advisors grow their practices while handling all compliance approvals.Â
While there’s always more work to be done, I’m incredibly proud of our progress. We’ve achieved product-market fit, maintain high NPS and CSAT scores among our advisors, and have a 0% churn rate among those who have joined the Savvy platform.
We also recognize that wealth management is inherently human. Nothing can replace the trusted advisor-client relationship, and our role is to enhance this relationship with smart technology, enabling deeper client connections and better outcomes.
I want to thank our incredible team for their tireless efforts, and our investors for their vote of confidence. I also want to thank our financial advisor team - your feedback and insights drive us to keep raising the bar. And to the clients who trust Savvy to help them navigate their financial lives - it's a responsibility we take very seriously. We're so excited for this next chapter of growth. The $18 trillion wealth management market is evolving rapidly, and we are deeply committed to leading the charge.
1. If you're a financial advisor who believes in the power of human advice enabled by smart technology, we'd love to hear from you. Drop me a DM or leave your contact info here 👉 Become an Advisor
2. If you’re interested in working with a financial advisor that can help you reach your financial goals, leave your contact info here and we’ll get you to the right place 👉 Become a Client
Here's to building the future of wealth management, together 🚀
-Ritik
‍
Savvy Wealth Inc. (“Savvy Wealth”) is a technology company and owner of the software platform referenced herein. Savvy Wealth is the parent company of Savvy Advisors Inc. (“Savvy Advisors” and “Savvy Wealth” collectively referred to as “Savvy”). All advisory services are offered through Savvy Advisors, an investment advisor registered with the Securities and Exchange Commission (“SEC”). Savvy Wealth’s advisor platform is not intended to replace human advice. The AI technology efficiently automates and streamlines processes like new account onboarding, ongoing financial planning and personalized communications across multiple marketing channels. The AI is not intended to interact with retail clients of Savvy Advisors, nor does the AI provide client-facing investment advice or investment decisions.
Savvy Wealth Raises $26.5 Million Series A to Redefine Wealth Management Technology (and Turns Three 🥳).
Today, I’m excited to share that Savvy Wealth has raised a $15.5 million Series A-2 funding round, completing our $26.5 million Series A led by Canvas Ventures, with participation from Thrive Capital, Brewer Lane, Index Ventures, and others. Since starting on this journey three years ago, this brings our total funding to over $33 million.
Reaching this milestone as we celebrate Savvy Wealth’s 3rd birthday is particularly meaningful. It’s incredible to reflect on how we’ve grown from our small NYC apartment company HQ with nothing but an UberEats account and a dream, to adding a thriving affiliated investment advisory firm with over 30 exceptional financial advisors managing $700M+ in client assets across the nation. With $1 billion of AUM in our sights, we’re striving to deliver exceptional value to both our advisors and their clients. This achievement is a testament to the hard work and dedication of the Savvy team, and I’m more confident than ever that this is only the beginning.
Savvy Wealth was born to provide technology-enabled solutions for the wealth management industry that eliminates the painful, middle and back office tasks and workflows that take away precious time from financial advisors (time that could be better spent in front of their clients). Today, the vast majority of advisors spend roughly 40% of their time on these tasks and workflows. Another 10+ hours of their time per week is spent on marketing themselves to build their personal brands and drive client prospecting. It’s no wonder the wealth management industry feels broken.Â
There are three distinct reasons why:Â
- Lack of technology & automation: Advisors need tools to save time on middle and back-office workflows.
- Limited access to financial products: Advisors feel constrained by a limited set of products and services they can offer due to outdated rules & processes.
- Insufficient marketing support: Advisors have to fight for themselves when it comes to compliance. Even when equipped with the right marketing tools, the time and know-how to use them effectively is missing.Â
Savvy Wealth addresses these pain points with a level of focus and tenacity that flows down to our org chart:
• Our Engineering, Product, and Design teams tackle the technology challenges.
• Operations ensures advisors have access to a wide range of financial products.
• Our Marketing team provides comprehensive, agency-style support to help advisors grow their practices while handling all compliance approvals.Â
While there’s always more work to be done, I’m incredibly proud of our progress. We’ve achieved product-market fit, maintain high NPS and CSAT scores among our advisors, and have a 0% churn rate among those who have joined the Savvy platform.
We also recognize that wealth management is inherently human. Nothing can replace the trusted advisor-client relationship, and our role is to enhance this relationship with smart technology, enabling deeper client connections and better outcomes.
I want to thank our incredible team for their tireless efforts, and our investors for their vote of confidence. I also want to thank our financial advisor team - your feedback and insights drive us to keep raising the bar. And to the clients who trust Savvy to help them navigate their financial lives - it's a responsibility we take very seriously. We're so excited for this next chapter of growth. The $18 trillion wealth management market is evolving rapidly, and we are deeply committed to leading the charge.
1. If you're a financial advisor who believes in the power of human advice enabled by smart technology, we'd love to hear from you. Drop me a DM or leave your contact info here 👉 Become an Advisor
2. If you’re interested in working with a financial advisor that can help you reach your financial goals, leave your contact info here and we’ll get you to the right place 👉 Become a Client
Here's to building the future of wealth management, together 🚀
-Ritik
‍
Savvy Wealth Inc. (“Savvy Wealth”) is a technology company and owner of the software platform referenced herein. Savvy Wealth is the parent company of Savvy Advisors Inc. (“Savvy Advisors” and “Savvy Wealth” collectively referred to as “Savvy”). All advisory services are offered through Savvy Advisors, an investment advisor registered with the Securities and Exchange Commission (“SEC”). Savvy Wealth’s advisor platform is not intended to replace human advice. The AI technology efficiently automates and streamlines processes like new account onboarding, ongoing financial planning and personalized communications across multiple marketing channels. The AI is not intended to interact with retail clients of Savvy Advisors, nor does the AI provide client-facing investment advice or investment decisions.
