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GeoWealth secures $19m in Series B funding led by Kayne Anderson Capital Advisors

By Edlyn Cardoza

November 08, 2021

  • Asset Management
  • GeoWealth
  • J.P. Morgan Asset Management
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GeoWealth, TAMP, Kayne Partners Fund, USAGeoWealth, a modern turnkey asset management program (TAMP) built for advisors, recently announced it had raised a $19 million Series B funding round led by Kayne Partners Fund, the growth private equity group of Kayne Anderson Capital Advisors, with follow-on investment from J.P. Morgan Asset Management, a strategic investor in GeoWealth since 2018.

“GeoWealth’s rapid growth is a reflection of its exceptional ability to solve the challenges facing financial advisors today,” said Robert Shilton, Managing Director, Growth Equity at Kayne Anderson Capital Advisors. “Whether it’s flexible investment solutions, a modern back office, or an elevated client experience, GeoWealth stands apart from legacy providers by combining the best of SaaS and an outsourced investment platform. We believe GeoWealth is at the cusp of what could be explosive growth, and Kayne is committed to bringing our firm’s full suite of capabilities and expertise to support GeoWealth in the coming years.”

Since GeoWealth’s Series A funding led by J.P. Morgan in December 2018, platform assets have increased over 300% to $16.7 billion, and AUM has increased over 700% to $7.3 billion. GeoWealth combines its proprietary, integrated technology with a high-touch outsourced service model, allowing advisors to focus more on what they do best – spending time with their clients. The additional capital will allow the company to significantly expand its product, engineering, and distribution teams.

“It was apparent from our initial meetings with the Kayne team that they were the right partner for our next phase of growth,” said Colin Falls, President of GeoWealth. “We are excited to immediately deploy this growth capital to pursue our most important strategic priorities: accelerating product development to meet the evolving needs of our clients and expanding our distribution team to ensure that all RIAs have access to GeoWealth.”

Recently, IBS Intelligence reported that GeoWealth, a modern turnkey asset management program (TAMP) built for advisors, announced the availability of Franklin Templeton Model Portfolios on its platform.

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