Next-Gen Wealth Management Platform Continues Reimagining How Advisors Connect with Clients
NEW YORK [November 18, 2015] – Vanare | NestEgg, the wealth management technology platform built on Roboadvisor DNA serving high net worth and Millennial clients, today announced that the company has closed $3.25 million in seed capital. The funding came from RIAs, financial services & private equity executives, as well affluent families. Vanare is using the proceeds on product innovation and development of its fully-integrated technology platform, a next generation practice management tool for financial advisors and their clients. Additionally, funds are amplifying sales and marketing efforts that have already resulted in more than $1.5 billion in assets and 30,000 accounts on the platform since launching in mid-2014.
Vanare will continue to fulfill its mission of helping advisors and financial firms achieve hypergrowth and unlock their potential for scale through leading-edge technology. The funding is facilitating the release of new products and platform enhancements to help firms more efficiently manage and service their clients, thereby reducing operating costs and scaling the business, whether such clients come from a traditional or digital channel.
“This funding is allowing us to further deepen our platform, and release powerful tools that help both advisors and clients. In 2016, Vanare will deliver goal-based financial planning for the client, which can be used in partnership with the advisor, followed by data aggregation and communication enhancements,” said Rich Cancro, founder and Chief Executive Officer of Vanare. Cancro continued: “I am extremely proud of what the team has been able to accomplish to date. We have been quickly developing and releasing ground-breaking products, including online account opening and financial APIs, and are committed to building the platform further to ensure it is meeting the ongoing needs of advisors and their clients.”
Last week, Vanare announced the launch of Synapse, the first-ever fully customizable white-label roboadvisor API. The simple, flexible and scalable solution allows financial service firms the ability to create their own user interface (UI) so that their clients have a seamless experience using the firm’s existing web site
“The demand for financial technology (fintech) is soaring on a global scale,” explained James Dowd, Founder and CEO of North Capital Inc., which invested in Vanare. Dowd noted that “the future of wealth management is personalized, collaborative and mobile for a growing percentage of technologically-savvy clients; and the need for systematic financial planning and objective advice has never been greater. We are pleased to be helping Vanare radically advance the ability to deliver a superior online client experience, and we have adopted the Roboadvisor DNA platform as the centerpiece of our own online advisory service offering, Evisor.com.”
About Vanare | NestEgg
Vanare is a next-generation wealth management platform built on Roboadvisor DNA. With the acquisition of NestEgg Wealth in late 2014, Vanare launched the first-ever fully integrated online and traditional wealth management solution which seamlessly includes a customizable roboadvisor option along with prospect and client management including client reporting, and flexibility across workflows, data and usability. With Vanare | NestEgg, RIAs can build client relationships through both traditional face-to-face advice, as well as a completely digital, low-touch interaction. Founded by a team of experienced, creative financial and technology executives, Vanare continues to develop next generation enhancements ensuring the most powerful and scalable platform for the investment advisor community. To learn more, visit: www.vanare.com, or contact the firm at firstname.lastname@example.org or on Twitter at @vanareplatform.