WEST CHESTER, Pa.--(BUSINESS WIRE)--Financeware, a leading wealth management fintech platform and NewSpring Holdings company, today announced the appointment of Bill Morrissey, former Divisional President of Business Development at LPL Financial (“LPL”), to its Board of Directors. The appointment is part of Financeware’s broader strategy for accelerating its growth across the wealth management space, and underscores the company’s commitment to assembling industry leaders at the management and Board levels to help propel the company through its next phase of expansion.
“We are thrilled to add Bill to our Board of Directors. He’s a knowledgeable, forward-thinking leader with a track record of significant accomplishments in the financial services industry,” said Kevin Rafferty, CEO of Financeware. “Given Bill’s successful experience building winning organizations, his guidance and insights will be invaluable for Financeware and, in particular, guiding strategy and driving growth for our Wealthcare business unit.”
“Few people have been as successful leading the growth of advisory businesses as Bill,” said Matt Regan, President of Wealthcare. “His knowledge and expertise of the financial advisory landscape are an ideal fit for us as we position Wealthcare for sustained growth by providing unique and exciting opportunities for advisors to grow and scale their business.”
Financeware’s Wealthcare business is a wealth management innovation company that differentiates goals-driven experiences with its advisor-focused GDX360 platform. This approach unites the two pivotal parts of goals-driven advice - planning and investing – in one connected experience that gives advisors new ways to see, manage and grow their business.
“It’s an honor to join the Financeware Board of Directors and to support the company’s forward vision. As someone with over three decades of experience in the wealth management space, I see the impressive value proposition Financeware offers the industry today,” said Morrissey. “Financeware stands out as a wealth management fintech leader because of the company’s unique combination of talent, solutions and leadership. During my time at LPL, I watched Wealthcare become one of LPL’s fastest-growing hybrid RIAs, which is a testament both to the strength of the Financeware platform and the support of NewSpring Holdings. I look forward to working with the Board and the executive team of Financeware to help accelerate its growth.”
A strategic advisor to executive leadership teams and boards of directors across the wealth management and asset management spaces, Mr. Morrissey is the former Divisional President of Business Development at LPL, where he increased the firm’s advisor headcount from 6,500 in 2005 to more than 16,000 in 2018. During his tenure, he revamped the firm’s onboarding, training and business start-up programs. In addition, Mr. Morrissey had full P&L responsibility and delivered exceptional financial and operational results over a number of years. Before LPL, Morrissey spent 17 years at Fidelity Investments, where he was most recently Senior Vice President of Institutional Services.
Financeware is an industry-leading fintech platform company focused on driving strategic growth and expansion of innovative companies across the new wealth management space. Established by NewSpring Holdings in 2018, Financeware was born of a need to connect winning solution sets to the fast-moving targets, partners and market relationships playing out across the entire wealth management sector. With a deep history of game-changing wins driven by broad and deep market leadership, the group drives strategic growth of portfolio companies focused in key areas of wealth management, financial advisory, and data management. Financeware’s growing portfolio includes Wealthcare, VMS and QUODD. Learn more at www.financeware.com.
Wealthcare Capital Management architected its original goals-based planning and investing methodology more than 18 years ago and holds 12 patents on this established goals management process. Powered by its patented Comfort Zone®, Wealthcare’s approach features innovative, personalized experiences and step-by-step tools that create deeper relationships between advisors and investors. Wealthcare empowers firms and advisors to grow their advisory businesses by providing GDX360 – Wealthcare’s proven fiduciary process that seamlessly integrates planning, investing and trading – and a full-suite of practice-management services. Wealthcare Advisory Partners is the firm’s Hybrid RIA, which was created in 2014. Wealthcare is a business unit of Financeware with over $2 billion in AUM across both RIAs and serving more than 70 affiliated advisors. Learn more at www.wealthcarecapital.com.
About NewSpring Holdings
NewSpring Holdings, the dedicated, diversified holding company within NewSpring, with a strategy focused on control buyouts and platform builds, brings a wealth of knowledge, experience, and resources to take profitable, growing companies to the next level through acquisitions and proven organic methodologies. Founded in 1999, NewSpring partners with the innovators, makers, and operators of high-performing companies in dynamic industries to catalyze new growth and seize compelling opportunities. The Firm manages approximately $1.7 billion across four distinct strategies covering the spectrum from growth equity and control buyouts to mezzanine debt. Partnering with management teams to help develop their businesses into market leaders, NewSpring identifies opportunities and builds relationships using its network of industry leaders and influencers across a wide array of operational areas and industries. Visit NewSpring at www.newspringcapital.com.