GeoWealth Secures Growth Investment Round Led by BlackRock
2024年7月25日 - 9:08PM
ビジネスワイヤ(英語)
Funding to fuel continued investment in
GeoWealth’s proprietary unified technology platform, supporting a
wide array of investment use cases for RIAs
GeoWealth, a proprietary technology and turnkey asset
management platform (TAMP), today announced that it has closed a
$18 million growth investment led by BlackRock (NYSE: BLK).
GeoWealth will use the funding to support the continued development
of offerings that enable advisors to meet client demand for access
to an increasingly broad range of asset types in a unified account.
Kayne Anderson Growth Capital, the dedicated growth capital
strategy of Kayne Anderson, which led GeoWealth’s Series B funding
in 2021, participated in the round, as did J.P. Morgan Asset
Management, a strategic investor in GeoWealth since 2018.
“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
$28 billion of assets, with more than 180,000 accounts managed by
nearly 200 registered investment advisors (RIAs). For more
information about GeoWealth’s customizable, tech-forward solutions
designed to serve RIAs of all sizes, please visit
geowealth.com.
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
Chicago, IL. Visit us at geowealth.com and follow us on
LinkedIn.
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version on businesswire.com: https://www.businesswire.com/news/home/20240725212773/en/
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