Rocket Dollar, an Austin, Texas-based self-directed retirement platform that helps people with individual retirement accounts and Simple 401(k)s invest in alternatives, has raised $8 million in Series A financing.
The round was led by Park West Asset Management with participation from Hyphen Capital, Amaranthine, Kraken Ventures and Primetime Partners. Existing investor Sure Ventures also participated, the company said in a release.
Rocket Dollar will use the funding to accelerate product development, enhance the customer experience, increase cybersecurity and expand investment education and content.
The company specializes in facilitating investments in alternatives including real estate, private equity, startups and cryptocurrency, within the framework of an IRA.
In addition, Rocket Dollar said Todd Ruppert, the former CEO and president of T. Rowe Price Global Investment Services, will join its advisory board.
The "Crypto Mom" departure would leave the SEC commission with just two members and no Democratic commissioners on the panel.
IFP Securities’ owner, Bill Hamm, has a long-term plan for the firm and its 279 financial advisors.
Meanwhile, a Osaic and Envestnet ink a new adaptive wealthtech partnership to better support the firm's 10,000-plus advisors, and RIA-focused VastAdvisor unveils native integrations with leading CRMs.
A former Alabama investment advisor and ex-Kestra rep has been permanently barred and penalized after clients he promised to protect got caught in a $2.6 million fraud.
As more active strategies get packaged into the ETF wrapper, advisors and investors have to look beyond expense ratios as the benchmark for value.
Wellington explores how multi strategy hedge funds may enhance diversification
As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management
