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GeoWealth secures USD19m in Series B round

GeoWealth, a modern turnkey asset management program (TAMP) built for advisers, has raised USD19 million in a Series B funding round led by Kayne Partners Fund, the growth private equity group of Kayne Anderson Capital Advisors, with a follow-on investment from JP Morgan Asset Management, a strategic investor in GeoWealth since 2018.

“GeoWealth’s rapid growth is a reflection of its exceptional ability to solve the challenges facing financial advisors today,” says Robert Shilton, Managing Director, Growth Equity at Kayne Anderson Capital Advisors. “Whether it’s flexible investment solutions, a modern back office, or an elevated client experience, GeoWealth stands apart from legacy providers by combining the best of SaaS and an outsourced investment platform. We believe GeoWealth is at the cusp of what could be explosive growth, and Kayne is committed to bringing our firm’s full suite of capabilities and expertise to support GeoWealth in the coming years.”

Since GeoWealth’s Series A funding led by JP Morgan in December 2018, platform assets have increased over 300 per cent to USD16.7 billion and AUM has increased over 700 per cent to USD7.3 billion. GeoWealth combines its proprietary, integrated technology with a high-touch outsourced service model, allowing advisors to focus more on what they do best – spending time with their clients. The additional capital will allow the company to significantly expand its product, engineering, and distribution teams.

“It was apparent from our initial meetings with the Kayne team that they were the right partner for our next phase of growth,” says Colin Falls, President of GeoWealth. “We are excited to immediately deploy this growth capital to pursue our most important strategic priorities: accelerating product development to meet the evolving needs of our clients and expanding our distribution team to ensure that all RIAs have access to GeoWealth.”

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