Wealthtech Weekly is a newsletter that keeps you updated on the latest news on wealth management technology including fundraises, M&A, hiring, & more. 

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Vanilla Closes Funding (Wealth Management)

Estate-planning technology provider Vanilla has closed a $35 million funding round, led by Insight Partners and joined by investors like Venrock, Vanguard, Edward Jones Ventures, Nationwide, Allianz, and Alumni Ventures. The round supports Vanilla’s growth, adoption, and platform development, including its AI technology, "Vanilla AI" (V/AI). This follows a $30 million funding secured by competitor Wealth.com in September. Vanilla also announced a two-way integration with eMoney Advisor, enabling automatic data import, visualization, and report synchronization, with general availability expected in the coming months. Vanilla previously raised $30 million in a Series B (2022) and $14.3 million in a Series A (2021).

Modern Wealth Management Buys $1.4 Billion RIA Petso Financial (Wealth Solutions Report)

Modern Wealth Management has acquired Petso Financial Consultants, a Boise-based advisory firm with $1.4 billion in AUM, marking its sixth acquisition this year and pushing its total AUM past $6 billion. This acquisition expands Modern Wealth’s reach into the Pacific Northwest, aligning with its national growth strategy. Petso Financial’s 10-person team has joined Modern Wealth, with founder David Petso serving as Managing Director. Modern Wealth now operates 14 offices across 11 states and plans additional acquisitions into 2025, focusing on the Western and PNW regions. Previous acquisitions include firms in Washington, D.C., Philadelphia, and Knoxville.

Waverly Advisors Acquires 9258 Wealth Management (Yahoo)

Waverly Advisors has expanded into Ohio by acquiring 9258 Wealth Management, adding three Ohio-based offices and $1 billion in AUM, bringing Waverly’s total to $14.4 billion. Founded in 2017 by Walt Lunsford, 9258 specializes in investment advisory and tax planning, with Lunsford joining Waverly as Partner, Wealth Advisor, and Regional Director alongside his 24-person team. This acquisition is Waverly's 17th since receiving equity investment from Wealth Partners Capital Group and HGGC’s Aspire Holdings in December 2021, marking its seventh transaction in 2024. Waverly now operates 25 locations nationwide, serving high-net-worth individuals, corporate retirement plans, and institutional clients.

Dallas’ Apex Fintech Solutions Acquires Connecticut-Based FinTron (Dallas Innovates)

Apex Fintech Solutions, based in Dallas, has agreed to acquire Stamford-based FinTron, a fintech and design agency known for its high-end digital solutions for investors and advisers. This acquisition aims to enhance Apex’s digital investment offerings by integrating FinTron’s customizable capabilities, which enable streamlined, turnkey brokerage experiences. Apex plans to offer FinTron’s intuitive white-label components, SDK, and embedded tools to a broad range of clients, including financial advisers, fintechs, neobanks, and retirement firms. FinTron's integration will support loyalty investing programs and democratize financial services through accessible, advanced tools. Terms of the deal were not disclosed.

Watching:

A $12 Trillion Opportunity For Financial Advisors | Ben with Benefits (YouTube)