RICHMOND, Va.--(BUSINESS WIRE)--Wealthcare Capital Management (“Wealthcare”), a portfolio company of NewSpring Holdings (“NewSpring”), NewSpring Capital’s dedicated buy and build strategy, announces a second funding round from NewSpring and the release of the latest version of the Company’s patented Financeware technology. Proceeds from the financing will be used to further develop and grow the Company’s market-leading, goals-driven investing platform.
Founded in 1999, Wealthcare is widely credited as a pioneer in goals-based wealth management technology and goals-driven investing. Using a patented process, Wealthcare provides wealth advisors with a straightforward solution to help clients clarify their goals and risk preferences, align their investment risk with what they value most, and avoid being misguided by the abstract and tired questionnaire-based industry approach to risk tolerance. Wealthcare’s proprietary Comfort Zone functionality provides the client with clarity and confidence in the path they have chosen, and control of key variables to keep them on track through volatile and evolving markets.
Since acquiring Wealthcare in 2014, NewSpring has provided significant financial backing to accelerate growth. During this time, Wealthcare has grown Assets Under Management (“AUM”) by more than 100% and is now near $1.7 billion.
“Wealthcare has been able to successfully capitalize on NewSpring’s funding in order to continue to serve our customers and solidify our place as the goals-driven investing leader,” said Ron Madey, Wealthcare President. “We’re passionate about helping to reshape the financial services industry for the better.”
“With tectonic movements in the industry like DOL standards, aging baby boomers and the growing pervasiveness of technology, Wealthcare has a unique offering that leads to a more successful relationship between advisors and their clients,” said Skip Maner, Managing Partner of NewSpring Holdings.
In response to customer demand, Wealthcare is now unveiling its 3.0 Financeware release with a new user experience including an enhanced navigation, a new client portal with an interactive Comfort Zone, expanded investment choices, and a straight-through investment policy process that not only takes advisor practice efficiency to a new level, but also squarely addresses the latest DOL fiduciary standards.
About Wealthcare Capital Management
Wealthcare Capital Management LLC architected its original goals-based investment methodology more than 15 years ago and holds 12 patents on this proven financial planning and goals management process. Driven by the belief that both advisors and investors deserve a better way to achieve their life dreams, Wealthcare provides a full-suite of practice-management support services that empower advisors to achieve a fulfilling career, while giving investors an objective, personalized client experience. Wealthcare backs the entire process with their industry-leading software, Financeware, which more than 30,000 advisors use nationwide.
About NewSpring Holdings
NewSpring Holdings, LLC, NewSpring Capital’s dedicated buy and build strategy, focuses on control buyouts and platform builds, targeting profitable, growing companies seeking a financial partner to better assist them in achieving their goals. NewSpring Capital, based in Radnor, Pa., collectively manages more than $1.5 billion of committed capital supporting more than 120 portfolio companies across its growth equity, control buyout and mezzanine debt strategies. Combining deep operating knowledge with financial and investing expertise, NewSpring Capital provides growing companies the financial resources, advice, network of contacts and strategic partnerships necessary to be successful. To learn more about NewSpring Capital, please visit www.newspringcapital.com.