Acquired wealth He raised $200 million for his business, which advises doctors on their professional and personal finances.
The company offers an interconnected platform where doctors can consult with wealth management experts on topics such as financial planning, tax planning, wealth management and investments, Bloomberg reports. report Wednesday (July 10th).
Earned Wealth was reportedly founded in 2021 and raised about $18 million in a funding round in 2023, at which point the company was valued at nearly $40 million.
The company currently has more than 3,000 clients and $2 billion in assets under management, according to the report.
Earned Wealth reportedly plans to use the new funding to expand its services and seek to acquire other companies that serve medical professionals.
Commenting on Bloomberg’s report on Wednesday post On LinkedIn, John ClendenningEarned Wealth founder and CEO David Cole said the investment “will help further our mission to transform financial services for healthcare professionals.”
“Our goal is to be a one-stop shop — the only financial services provider physicians need for both their personal finances and practice needs,” Clendenning said in the post. “Recently, Thomas Doll We are expanding our services to include individual tax planning, corporate tax and retirement planning, and look forward to continuing our growth in the future.”
Earned Wealth announced the acquisition WebsiteAccording to the company, Thomas Dole has been dedicated to serving the financial needs of doctors and dentists for nearly 40 years.
“The values, culture, philosophies and service offerings of Thomas Doles and Earned Wealth are closely aligned and this combination will expand our capabilities and strengthen our commitment to providing excellent service to our clients,” the announcement said.
The digital age has brought about major changes in consumer expectations and demands when it comes to managing their finances, PYMNTS reported in April.
While traditional wealth management services often involve direct interactions with financial advisors, extensive paperwork and opaque fee structures, consumer demands are forcing the industry to adapt and innovate.
Another recent development in this field is Voyant The company announced in April that it was expanding its financial wellness and wealth management software to add new financial planning and modeling tools with a focus on retirement planning.
