What is the problem Savvy is solving, who are their target customers, and what changes are needed in wealth management?

Savvy is a technology-enabled wealth management firm. Think Compass Real Estate in the real estate industry, or Newfront in the commercial insurance space—we believe that same model applies to wealth management. We hire wealth managers with books of business and acquire wealth management firms, then supercharge them with our own proprietary sales, marketing, and back-office automation software, all to help them dramatically grow top-line revenues and improve operational efficiency. The target advisor profile for us right now is typically one of two types.

Independent registered investment advisory firms (RIAs), which might have between one to five advisors with between $50M and $1B in assets under management (AUM). Our sweet spot is right at the $200M AUM mark.

Individual advisors working at a wirehouse, independent RIA, or other financial institution, typically in the middle of their career (not looking to just retire and transition that clients over to another advisor), have lots of ambition left in them, and want to continue growing their books/revenue. 

The target client profile is a high net worth individual or family. This is typically someone between $1M-$20M in net worth looking to have an advisor guide them through their holistic financial picture. These are individuals that have graduated from using a self-serve tool like a robo-advisor and want more personalized recommendations that go past just investment management.