Flourish, a financial technology firm that provides a platform for RIAs to access financial products, has reached a new milestone.
The New York based firm, which is wholly owned by MassMutual, has announced that it has surpassed $5 billion assets under custody with just under 800 RIA firms using its platform. It has seen a surge in RIAs onboarding since the recent launch of its Flourish Annuities solution which was further expanded in March. The strong annuities market is fueling interest in the solution which removes traditional hurdles to adoption like advisor licensing requirements and unwieldy paper-based applications.
The firm’s flagship solution Flourish Cash was recently made available to more practices across Focus Financial Partners independent network of fiduciary wealth management firms, giving them another avenue to bring over clients’ held-away assets. The solution has benefitted from higher-for-longer interest rates with its client base more than doubling in 18 months and now also offers a collaborative approach for teams using its platform called Advisor Teams.
“Advisors are embracing solutions that help them address every aspect of their clients’ financial lives. As they move beyond traditional investments, RIAs are building stronger relationships and growing wallet share by offering innovative solutions that differentiate their practices,” said Max Lane, Flourish CEO. “This evolution underscores the increasing demand for advisors to comprehensively address their clients' financial needs and deliver enhanced value–for example, Flourish Cash clients earned more than $130M in interest last year, and are on track to earn even more this year.”
From outstanding individuals to innovative organizations, find out who made the final shortlist for top honors at the IN awards, now in its second year.
Cresset's Susie Cranston is expecting an economic recession, but says her $65 billion RIA sees "great opportunity" to keep investing in a down market.
“There’s a big pull to alternative investments right now because of volatility of the stock market,” Kevin Gannon, CEO of Robert A. Stanger & Co., said.
Sellers shift focus: It's not about succession anymore.
Platform being adopted by independent-minded advisors who see insurance as a core pillar of their business.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
