Wealthminder Raises $1.45M in Seed Capital

Next generation practice management and communications tool connects individuals and advisors, helps advisors provide more efficient and effective services

RESTON, VA [May 27, 2015] – Wealthminder, a provider of financial planning and investment advice software as well as a marketplace for connecting individuals to financial advisors, today announced it has raised $1.45M in seed capital from Green Visor Capital, Signatures Capital and other angel investors.

The company will use the proceeds to further invest in its technology platform, a next generation practice management and communication solution for financial advisors and their clients. Wealthminder will also accelerate the sales and marketing efforts that have already resulted in more than 25 advisory firms adopting its platform and thousands of consumers coming daily to its site in search of assistance from a financial advisor.

STRONG RESPONSE

"We've been very pleased with the response we've received to the latest version of our platform and are confident in the approach we are taking," said Rich Ellinger, founder and CEO of Wealthminder. "Since the release last month, we've added 16 new firms and have seen a strong uptick in inbound interest from advisors, who are in essence validating that our approach of marrying financial planning to plan execution through an easy-to-use, intuitive user-experience for both advisors and their clients is something that is missing from the market."

"We're also seeing strong interest from consumers looking for the assistance of qualified fiduciary advisors," Ellinger added. "People want a better solution than asking a couple of their friends for referrals, and with 118 million households in the US having investable assets, we believe there's a huge opportunity to connect people who want help with those who can provide it."

ONLINE MARKETPLACE

"Whether you are looking for legal counsel, to hire a licensed contractor or digital marketing support, online marketplaces are absolutely transforming the way professional services are purchased and delivered," said Bobby Yazdani, Founder and Managing Partner of Signatures Capital, one of the original investors that backed the Wealthminder platform. "We believe financial advice is a logical fit for this evolving online model and Wealthminder is well-positioned to capitalize on the opportunity."

"Today's consumer expects a technology experience from their financial advisor that is on-par with what they experience in the rest of their lives," said investor Mike Walsh, General Partner at Green Visor Capital. "One of the things that attracted us to Wealthminder was their focus on user experience. In addition, we see a massive market opportunity to equip the 300,000 financial advisors in the US (and many more world-wide) with a next generation of tools. The team's track record across multiple domain spaces speaks for itself."

MEANINGFUL CONTRIBUTIONS

"A great set of investors provides far more than capital to a company, so I'm thrilled we will not only have access to Mike and his team at Green Visor, but three of the investors in the round are independent financial advisors and customers," added Ellinger. "With their assistance and capital, we are equipped to make our vision of bringing quality financial advice to mainstream Americans a reality."

ABOUT WEALTHMINDER

Wealthminder was founded in 2013 and is based in the DC Metro Area. The Wealthminder platform includes sophisticated financial planning and automated investment advice tools delivered in the cloud through an intuitive interface as well as a service for connecting consumers with financial advisors. The platform is currently offered as a white-labeled solution through independent financial advisors. For more information, visit www.wealthminder.com or follow @wealthminder on Twitter.

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