Tifin, a fintech company that operates a variety of wealth management software, has closed another round of funding led by Franklin Templeton and Motive Partners.
The Boulder, Colorado-based startup raised $109 million in Series D financing, bringing the total it has raised over the last 18 months to $204 million. The latest fundraising bring Tifin’s valuation to $842 million, nearly double what the company was worth after closing a Series C round in October.
Franklin Templeton and Motive Partners join a roster of investors that includes Hamilton Lane, Morningstar, Broadridge and J.P. Morgan Asset Management.
Tifin plans to deploy the additional capital toward Magnifi, its search-powered investment marketplace, and Distill, a product distribution platform for asset managers. The firm also wants to expand outside the U.S.
“Hyper-personalized experiences are critical for the future of investment management as individuals demand more engaging and digitally intuitive approaches,” Tifin founder and CEO Vinay Nair said in a statement.
Tifin is a relative newcomer in the adviser fintech market and small in terms of market share. Its most popular product is Totum, a risk profiling technology acquired in March 2021. Totum is used by 1.05% of advisers for risk tolerance and 0.85% for economic analysis and portfolio stress testing, according to the 2022 T3 Insider Information adviser software survey.
Tifin is also known for selling 55ip, a tax optimization technology, to J.P. Morgan Asset Management, which recently used it launch a direct indexing offering for advisers.
However, the company continues to grow through acquisitions. Last week, Tifin announced that it purchased two investor education companies, All Star Charts and INO.com, to expand Financial Answers, a retail investor data product. In March, Tifin acquired Amicus.io, an early-stage fintech company that specializes in donor-advised funds.
The startup now employs 300 people, double its head count in October, and provides technology to about 3,000 advisers, according to TechCrunch.
Tifin has potential to play a crucial role in reinventing the fintech sector, according to Motive Partners founder and managing partner Rob Heyvaert, who will join Tifin’s board of directors as part of the investment.
“Tifin’s pedigree in overlaying data & analytics to drive personalization improvements across businesses is just one area that we believe will be essential in building further value within our portfolio companies,” Heyvaert said in a statement.
A new proposal could end the ban on promoting client reviews in states like California and Connecticut, giving state-registered advisors a level playing field with their SEC-registered peers.
Morningstar research data show improved retirement trajectories for self-directors and allocators placed in managed accounts.
Some in the industry say that more UBS financial advisors this year will be heading for the exits.
The Wall Street giant has blasted data middlemen as digital freeloaders, but tech firms and consumer advocates are pushing back.
Research reveals a 4% year-on-year increase in expenses that one in five Americans, including one-quarter of Gen Xers, say they have not planned for.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
