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Advisor.com, a growing platform helping individuals discover and receive financial advice, announced a $9 million seed round led by Walkabout Ventures, with participation from Long Ridge Private Equity Partners Founder and Managing Partner Jim Brown.
Officials said the capital infusion allows Advisor.com, headquartered in Charleston, South Carolina, to further address the growing number of investors who aren’t being served by current market offerings.
This includes the growing group of professionals with investible assets under $500,000, the officials said.
Specifically, they said Advisor.com will leverage the investment to grow its marketplace by accelerating customer acquisition, enhancing its AI-powered advisor-matching technology, and expanding its network of top-tier advisors.
The network includes market leaders Creative Planning, Edelman Financial Engines, Empower, Pure Financial, United Capital, and Vanguard.
Josh Diamond, general partner at Walkabout, said, "Advisor.com is delivering a vital solution, helping investors access trusted advice more efficiently in fast-moving markets, while enabling advisors to unlock organic growth through better-matched client connections."
Advisor.com Founder Hunter Stunzi said, "Investors want a digital solution with a distinctly human touch and this important investment gives us the fuel to accelerate our mission of connecting thoughtful investors with fiduciary financial advisors.”
The Advisor.com marketplace is driven by AI-powered advisor-matching technology that pairs investors with vetted fiduciary advisors based on their unique investment goals and preferences.
Officials said it rigorously vets advisors based on factors such as regulatory history, assets under management, client ratios, and third-party reviews.
The company also operates Advisor Wealth Management (AWM), a rapidly growing RIA that helps households bridge the advice gap by combining the power of AI with the personal touch of human advisors, the officials said.
Stunzi sold his previous venture, the online lending marketplace SnapCap, to LendingTree in 2017.
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