In addition to quarterly updates, this letter highlights the firm’s growth in 2021 and some plans for 2022. Thank you for your interest in TIFIN, as we strive to change the future of finance for investors and advisors. 

January 3, 2022

We’re delighted to share that 2021 has been another remarkable year for us at TIFIN. Our team has grown almost 4x, our revenues by over 20x, and the individuals we reach by over 40x. This past year, we have raised ~100mm across series A, series B, and series C rounds with investors that include JP Morgan, Morningstar, Broadridge, and Hamilton Lane among others.

And yet, we are only getting started. Several products at TIFIN are either still being built or were launched in the last four months of the year. We are excited about TIFIN’s future and grateful for your support, referrals, and advice as we build an industry-shaping platform. A detailed update follows a short reminder of our mission.

Our Mission and Approach

TIFIN is a fintech platform creating engaging wealth experiences to better financial lives. We do this through AI and investment intelligence-powered personalization. We hope to change the world of wealth in ways that personalization has changed the world of movies, music, and more but with the added responsibility of delivering better wealth outcomes.

We use design and behavioral thinking to enable engaging experiences through software and application programming interfaces (APIs). We use investment science and intelligence to build algorithmic engines inside the software and APIs to enable better investor outcomes.

In a world where every individual is unique, we match them to financial advice and investments with a recognition of their distinct needs and goals across our investment marketplace (Magnifi) and our advice and planning (TIFIN WealthTech) divisions.

Accelerating Digital Distribution for Investment Managers

The flip side of helping the wealth industry move towards engaging personalization is that we also drive flows and growth for investment managers. This is done through an approach we call “embedded investments” – where investment management products are hosted within the software and APIs used by financial advisors and other trusted intermediaries. This allows TIFIN to play an integral role in helping the investment management industry shift towards digital distribution of their investment products and solutions.

Today, we work with approximately 30 investment managers and help them distribute over 60 investment funds across our platform.

Our Structure

TIFIN is organized as one platform with three divisions serving advised and self-directed investors.

Today, we deliver the personalization capabilities through an investment marketplace (Magnifi) and a collection of advice and planning products (TIFIN WealthTech). Magnifi assists both financial advisors and self-directed investors with a Google-like search and discovery portal that answers investment questions and allows for investment discovery, trading, and portfolio enhancement. TIFIN WealthTech combines several advice, planning, and investment capabilities for advisors that include risk, planning, profiling, investments, insights, charitable giving, and alternative investments (i.e., private equity and hedge funds).

In addition, our financial media-focused division (Financial Answers) is acquiring individual investor-focused media sites to create a first-party data platform. In the future, this will also allow us to take TIFIN’s personalization capabilities to a new channel. The other synergies that are already getting activated include client acquisition for other TIFIN divisions.

Finally, we centralize the data received across all three of TIFIN’s divisions (Magnifi, WealthTech and Financial Answers) through TIFIN’s AI engine for data insights (Distill). Milestones and Progress

I. Investment Marketplace (Magnifi)

Magnifi is a natural language and investment intelligence-powered marketplace for investment products. Magnifi aims to change how users (professional and individual investors) find, compare, and act on investments. Magnifi provides an intuitive user interface and search experience like most e-commerce and consumer search platforms. Magnifi’s growth remains impressive – it went from ~1mm displayed search results at the beginning of the year to ~50mm displayed search results by year-end across and hundreds of media sites where the Magnifi discovery widgets are hosted.

Across and, we have ~15K registered users and ~950 registered advisors. Approximately 90% of Magnifi’s revenue is linked to asset managers sponsoring their funds on the Magnifi marketplace. The remaining 10% of revenues are from paid subscriptions from approximately 80 advisors (5-10% of our registered advisors pay for premium features).

On, we just released a new premium module that allows an advisor to easily search across their client accounts with queries such as “accounts with low income and high fees”, “clients that hold tesla and apple”, “accounts with high fiduciary risk”, and more. Features such as this should help us accelerate advisor acquisition. On, in late Q3, we launched the ability for users to set up a Magnifi account and execute trades directly. While early, we just crossed 1000 Magnifi accounts at a marginal cost per approved account of ~$300. While continuing to grow this number, we will focus on funding and investing this coming quarter. We expect to introduce several features for Magnifi account holders in the coming months including our recently launched semantic search capabilities for single stocks. For example, try searching for “cheap growth stocks”, “high profitability stocks”, “vaccine companies”, ”work from home stocks”, “undervalued stocks trading at a 52 week low”, “stocks with high employment growth” or something else!

We believe there is an opportunity to provide a tailored and responsible brokerage offering that helps democratize intelligence and helps users build an informed investor mindset rather than a trading mindset. This is the central thesis of the Magnifi self-directed offerings. We believe can be the future of the brokerage model.

II. Advice and Planning (TIFIN WEALTHTECH)

TIFIN WealthTech has a collection of personalization capabilities for advisors and wealth managers organized as distinct business units each focused on improving and distributing their point solution.

  • Communications (Clout): Clout is a growth marketing solution for asset and wealth managers that helps them personalize content for client communication, distribute these on digital platforms in a compliant manner and measure its impact, all in seconds. Clout has ~175 paying financial advisors up from the ~20 paying advisors it had at the beginning of the year. In addition, the firm now has 4 enterprise deals with material expansion opportunities. There have been over 600,000 social media posts or emails sent using the Clout solution this year. Digital communication and marketing remain a top priority for many firms in the post-Covid world and with the pending announcement of some beachhead enterprise deals, Clout enters 2022 with strong momentum.
  • Know and Convert Your Prospect (Totum+PlanIQ+Positivly): Based on market feedback, and client demand, we are consolidating three business units focused on personalization through risk profiling, planning, and financial personality under common management. Together, they constitute our “Know and Convert Your Prospect” package for advisors. Totum, PlanIQ and Positivly assessments help advisors understand their prospects’ fears, needs, and wants respectively, thereby allowing customized investment proposals that provide protection, meet planning goals, and create interest-based engagement. Over 40,000 individuals have completed these assessments this year. The number of subscribed and paying advisors across these solutions has crossed 400. A majority of the revenues are coming from asset managers that are sponsoring funds on the software that allows them to drive awareness and attention for their products. The focus is now on expanding from just fund sponsorships to model portfolio sponsorships and the ability to execute the trading of investment proposals generated directly through TIFIN. We plan to have this ready in Q1.
  • Charitable Giving (Louise): Louise brings family members closer through the act of charitable giving and helps align a family’s investing with the causes they support. Advisors using Louise can automatically create, fund and grant from personalized Donor Advised Funds (DAFs) on behalf of their high net-worth clients. This also allows advisors to connect with their clients’ heirs. We launched the product in Q4 and have our first five advisors. Though we only distribute through advisors, if you would like your family to give using Louise, please let us know and we will be happy to set up an account for you directly. We have recently done that for two of our advisory board members.
  • Alternative Investments (Qualis): We announced an investment and an agreement to acquire Qualis Capital, a platform for advisors to subscribe to alternative investments such as private equity and hedge funds. The firm is at an early stage with 60mm in assets matched. We will use the platform to accelerate projects we are working on to take alternatives to retail investors while supporting Qualis’ growth. Our partnership with Hamilton Lane (see an update on series C in the section on Capital below) places us in a strong position to create impact in this important area.


FinancialAnswers is creating a data platform for individual investor interests and behavior. We do this by first acquiring financial media assets such as newsletters and financial websites and then centralizing data across the media assets we buy while continuing to grow them.

We are delighted to announce that FinancialAnswers has completed two more acquisitions, the last quarter of 2020. Across the four acquisitions since its inception in Q2, Financial Answers now touches ~2.4mm users, has ~1.7mm subscribers (emails) of which ~60,000 are paying members. The focus will now shift to central efficiencies and implementing synergies with other TIFIN divisions. One such synergy that is a focus area in Q1 2022 is account acquisition for Magnifi.


DISTILL is a project we started work on in Q3 and is now the centralized client data platform (CDP) for TIFIN. We extract data insights from our CDP that is fed by all our divisions and enriched by third-party datasets. This aggregated data is then being used to identify answers (signals) to growth-related questions for TIFIN. We will introduce components from DISTILL to add value to our divisions as well as to our asset manager and advisor clients.

TIFIN Revenues: TIFIN collectively had a combined ARR of ~$1mm in ARR at the beginning of the year and is finishing the year with ~23mm in ARR through a combination of organic growth and acquisitions in our FinancialAnswers division. As mentioned in our last update, the goal was to cross ~22.5mm by the year-end and we are delighted to have achieved this.

Talent: Overall, the traction with onboarding talent and users across TIFIN’s companies remains strong. Acceptance rates to offers made in Q4 were above 80%. Retention rates, conditional on being at TIFIN for at least 90 days, are higher than 95%. TIFIN now employs over 190 full-time employees across its business unit, up from ~50 members we had at the beginning of the year.

Capital: We successfully completed our series C. As mentioned in our last update, the goal was to raise $40mm. We closed the round with ~47mm at a valuation of $447mm. The lead investor in this round was Hamilton Lane (HLNE), a leader in private market investing. We expect our partnership with Hamilton Lane to accelerate our initiatives in providing access to alternatives. JP Morgan, Morningstar and Broadridge added to their investments from series B as well.

Minority Investments: This past year, as we consolidated various initiatives under TIFIN into one platform, we also segregated our legacy investments. Paralel, a modern fund administrator we helped co-found with Jeremy May, the former president at ALPS now has its first client. The Fund also holds small allocations to Arbor (a financial wellness focused consumer platform in Spain) and Farther Finance (a digital private bank). As, and if, these investments become more material, we will provide more detailed updates.

We are very excited at the progress across multiple dimensions and grateful for your support on this journey. We hope you are doing well and, as always, please do not hesitate to reach out with suggestions, comments, or questions.

Vinay and The Team at TIFIN