WSJ Pro: Hamilton Lane Backs Fintech Company TIFIN

TIFIN has raised its latest round of funding at a valuation of $447 million, a nearly fivefold valuation jump in less than a year for the financial-technology company….

Click here to read the full article


TIFIN raises $47 million at a $447 million valuation and adds Hamilton Lane to its group of Strategic Investors that includes J.P. Morgan, Morningstar and Broadridge

TIFIN closes Series A, B and C Funding within 12-months

Series C closes at a valuation that is nearly five times higher than its Series A

BOULDER & NEW YORK, OCTOBER 28, 2021 — TIFIN, a fintech platform using AI for wealth and asset management, today announced the successful closing of $47 million in Series C funding. TIFIN uses data and investment driven intelligence to drive personalization for wealth management, and digital distribution for investment managers. The firm closes its Series C round at a valuation that is nearly five times higher than its Series A which was completed towards the end of 2020TIFIN’s mission is to make investing a more meaningful driver of financial well-being, by shaping the future of the investor experience. Through its focused divisions, Magnifi, a search-powered marketplace for investments; Financial Answers, a consumer platform built on financial media; and TIFIN’s WealthTech platform’s many capabilities, the firm delivers personalization to the investment management industry.

Hamilton Lane (NASDAQ: HLNE), a leading private markets investment manager, entered the capital round as a new strategic investor. They join J.P. Morgan Asset ManagementMorningstar, and Broadridge in the Series C round, after their initial investment in TIFIN’s Series B round. TIFIN works closely with its strategic investors to facilitate innovation in the industry, and will partner with Hamilton Lane to explore adding alternatives to its suite of WealthTech capabilities.

Erik Hirsch, Vice Chairman and Head of Strategic Initiatives at Hamilton Lane, commented: “We are thrilled to be the newest strategic investor into TIFIN, whose platforms are shaping the future of the individual investor experience. We’re committed to enabling access to our asset class for a broader group of investors and believe in the power of data and technology to drive our industry forward – so we welcomed the opportunity to partner with a leader in technologically-driven wealth management solutions.”

Founded in late 2018 by Vinay Nair, a former Wharton Professor and successful entrepreneur, TIFIN was created to help make investing a powerful driver of financial well-being by eliminating frictions investors face. The firm’s executive committee consists of Jack Swift, Anil Arora, and Sharon French in addition to Dr. Nair. All four members bring a diverse set of perspectives and proven experience to TIFIN. In 2020, the firm sold their tax-aware platform 55-ip to JPMorgan Asset Management to further their advisors’ ability to mobilize model portfolios through smart tax transition plans.

“We are delighted to complete our Series C with strong support from our existing investors and welcome our new strategic investment partner, Hamilton Lane. We value their experience and expertise in the private markets as we explore ways to personalize and democratize access to this asset class to deliver better wealth outcomes for individuals,” said Vinay Nair, Founder and CEO of TIFIN. “Our growth to date is a sign of the potential the combination of financial expertise, AI and software technology has to address issues individuals face in managing their wealth to achieve financial freedom. We look forward to accelerating further toward our core mission at TIFIN and make investing a more meaningful and relevant component of every individual’s financial well-being.”

The growth at TIFIN highlights the industry’s need to deliver more value to clients through data, AI and technology innovation. The momentum in capital raising is validating for TIFIN’s thesis that personalization and data are critical for the future of investment management, as investor demand leans toward more engaging and digitally intuitive approaches.

The firm’s technology bridges the gap between retail investors, financial advisors, and asset managers. The divisions of TIFIN’s innovation capabilities are centered around proven science, investment management, software, and algo technology. This combination of Technology IFinance is used to seamlessly allow for greater asset flow while seeking to deliver better experiences and outcomes for investors.

This additional capital, alongside existing funds from prior capital raises will support TIFIN’s continued growth, additional acquisitions, as well as working with the strategic partners to help accelerate their fintech innovation initiatives.

About TIFIN 

TIFIN is shaping the future of investor experience with AI-based technology that recognizes the uniqueness of each investor. TIFIN, which stands for Technology In Finance, enhances the value proposition for wealth managers and broadens the access to wealth management by combining investment intelligence, data science, and technology. TIFIN aims to make investing a more powerful driver of financial wellbeing.

About Hamilton Lane

Hamilton Lane (NASDAQ: HLNE) is a leading private markets investment management firm providing innovative solutions to sophisticated investors around the world. Dedicated exclusively to private markets investing for 30 years, the firm currently employs approximately 475 professionals operating in offices throughout North America, Europe, Asia Pacific and the Middle East. Hamilton Lane has $757 billion in assets under management and supervision, composed of $92 billion in discretionary assets and $665 billion in advisory assets, as of June 30, 2021. Hamilton Lane specializes in building flexible investment programs that provide clients access to the full spectrum of private markets strategies, sectors and geographies. For more information, please visit www.hamiltonlane.com or follow Hamilton Lane on LinkedIn: https://www.linkedin.com/company/hamilton-lane/.

# # #


TIFIN’s FinancialAnswers.io Acquires Financial News and Analysis Platform StockNews.com

Stephen Reitmeister, the founder of StockNews.com and former GM of Zacks Investment Research, named partner at FinancialAnswers.io as the platform expands its data, AI, and fintech widget driven transformation of financial media assets 

The acquisition comes on the heels of the recent acquisition of AMTG, renamed Wealthpop, and plans announced in April to deploy $100 million over 18 months to acquire financial media firms

 

TIFIN, a fintech platform using artificial intelligence and investment-driven personalization to shape the future of investor experiences, today announced that its subsidiary Financial Answers has completed the acquisition of Stock News Network, the parent of StockNews.com. 

Following its acquisition earlier this year of Wealthpop, formerly known as AMTG, Financial Answers is extending its audience, content, and toolset with the acquisition of Chicago, IL-based Stock News Network. Stock News Network, which operates StockNews.com, has grown its revenue by more than 275% annually since being acquired and overhauled in 2019 by Stephen Reitmeister, former GM of Zacks Investment Research. The terms of the deal were not disclosed.

FinancialAnswers.io was launched in April with the mission of building a fintech platform for financial media assets and is led by TIFIN partner and financial media veteran Ian Rosen, formerly CEO of Stocktwits, Inc., Co-founder/CEO of Even Financial, Inc., and General Manager of MarketWatch, Inc. The firm aims to transform the financial media business model through the use of a centralized data lake and widgets to help individuals find advisors and investments best suited for them.

“Through FinancialAnswers, AI and investment intelligence-driven personalization capabilities at TIFIN can reach millions of investors and savers who rely on financial media to find investments and advisors,” said Dr. Vinay Nair, Founder, and CEO at TIFIN. “We are delighted to welcome Steve and StockNews to the TIFIN and Financial Answers family,” he added.

“We are excited to announce our second acquisition at FinancialAnswers.io,” said Ian Rosen, TIFIN partner and CEO of FinancialAnswers.io. “StockNews will complement our strategy of creating better experiences and outcomes for investors through data analysis and capabilities integration. With the capabilities at TIFIN and Financial Answers, we can help StockNews better match its audience of investors to the right investment products,” he added.

“I am excited to be part of TIFIN and Financial Answers to help shape the evolution of financial media. StockNews has witnessed tremendous growth and this partnership will only help accelerate that while helping us bring more value to our audience,” said Stephen Reitmeister, founder of StockNews.com.

 

About TIFIN

TIFIN, also known as THE TIFIN GROUP, is using AI and investment-driven personalization to shape the future of investor experience with a platform of intelligent products that recognize the uniqueness of each investor. Powered by an ecosystem of leaders in finance and technology, TIFIN builds next-gen products by combining investment intelligence, data science, and technology to make investing a more powerful driver of financial well-being.

 

For media inquiries, please contact:

Zito Partners

Deborah Kostroun

[email protected] 

201-403-8185


Sharon French Joins TIFIN as Senior Partner, over 50 ETFs and Mutual Funds Use the Platform to Reach Financial Advisors and Investors

French most recently served as President and CEO of Life & Retirement Funds for AIG; joins TIFIN after being part of its advisory board as asset managers use the platform to shape their distribution strategy in an increasingly digital environment

 

TIFIN, a fintech platform using artificial intelligence and investment-driven personalization to shape the future of investor experiences, today announced that financial industry veteran Sharon French has joined the firm as Senior Partner. She will join the firm’s executive committee as well as spearhead its partnerships with asset managers.

TIFIN also announced the milestone of partnering with over 50 ETFs and Mutual Funds that are now using its subsidiaries to market and distribute to financial advisors and individual investors using its pioneering approach of “Embedded Investments” within WealthTech products and Wealth-as-a-Service APIs.

Ms. French most recently was President and CEO of AIG’s Life & Retirement Funds and oversaw all aspects of their retail asset management business. She was instrumental in orchestrating AIG’s sale of their retirement and retail mutual funds business to Touchstone Investments last month.

“Sharon has been an advisor with TIFIN and we are delighted that she is now joining full-time and becoming part of our executive team,” said Dr. Vinay Nair, founder and CEO of TIFIN. “Across our fintech products, we work with asset managers to help shape their digital distribution strategy, especially in fragmented and growing markets such as with financial advisors and individual investors. With her deep experience in the investment management industry and desire to serve the end-investors, Sharon is uniquely qualified to help us deepen and broaden current and new asset management partnerships.”

Funds using TIFIN’s platform include those offered by firms such as JP Morgan, State Street, DWS, Northern Trust, ProShares, ALPS, New York Life, and Aberdeen Asset Management, with over $2.5 trillion in assets between them across ETFs and mutual funds. TIFIN’s fintech brands, including Magnifi, Clout, Positivly, Totum, PlanIQ, Louise, Financial Answers, and Distill, are being used by financial advisors and individual investors and provide a marketplace for investment managers.

“TIFIN has emerged as an indispensable partner in the investment community, and I have believed in the company’s mission since the very beginning,” said Sharon French, Senior Partner at TIFIN.  “Reaching 50 funds on the platform is a clear sign that the market is ready for digital distribution and content amplification using technology-based solutions like machine-learning and AI.”

Ms. French has held a variety of senior roles during her 35 years in financial services. Prior to joining AIG, she was Executive Vice President, Head of Beta Solutions for OppenheimerFunds where she led the strategy, development and implementation of the firm’s smart beta ETF products and solutions. She also oversaw the firm’s Environmental, Social and Governance (ESG) efforts and served on the firm’s Senior Leadership Team, governing the overall strategic direction of OppenheimerFunds.

Previously, she served as Senior Strategic Advisor to the CEO and President of Investment Management at BNY Mellon and Head of Private Client & Institutions at BlackRock. She spent nearly a decade at AllianceBernstein and held prior roles at mPower, Smith Barney and Chase Manhattan Bank.

Ms. French was named “Most Notable Women in Finance” by Crain’s New York in 2019. She is a Board Member for DHB Capital and is a Board Member for Women in ETFs; serves on the Board of Wake Forest University School of Business, and is a member of the Investment Company Institute’s ETF Governance Committee. She has also recently served on the Dean’s Advisory Council for the University of Delaware Lerner School of Business and as Co-Chair of the ETF and Managed Solutions Committee for the Money Management Institute.

Ms. French received a B.S. in business management from the University of Delaware and earned her Certified Investment Management Analyst designation from the University of Pennsylvania’s Wharton School of Business.

About TIFIN

TIFIN, also known as THE TIFIN GROUP, is using AI and investment-driven personalization to shape the future of investor experience with a platform of intelligent products that recognize the uniqueness of each investor. Powered by an ecosystem of leaders in finance and technology, TIFIN builds next-gen products by combining investment intelligence, data science, and technology to make investing a more powerful driver of financial well-being.

For media inquiries, please contact:

Deborah Kostroun

Zito Partners

201-403-8185

[email protected]


Magnifi by TIFIN brings direct indexing to individual investors and announces managed portfolios based on indexes designed by Morningstar

TIFIN, a fintech platform using artificial intelligence and investment-driven personalization to shape the future of investor experiences, announced today that its subsidiary, Magnifi, the world’s first natural-language-powered (NLP) investment marketplace, now offers portfolios of innovation stocks based on indexes designed by Morningstar, a leading provider of independent investment research, to empower investors with institutional style portfolios but without ETF or mutual fund wrappers that add additional expenses. With this new offering, Magnifi brings direct indexing directly to individual investors and enables a broad group of investors to access the skills of institutional experts.

“Many institutional and sophisticated wealth managers are increasingly adopting an approach where they hold and rebalance stock portfolios based on indexes from the likes of Morningstar and other asset managers directly in their own accounts, saving them expenses and creating the freedom to customize. With this announcement, we are now taking the first steps to bring this capability to all investors. At TIFIN we believe in democratizing intelligence to enable better outcomes for investors and doing so in ways that simplifies and engages,”  said Dr. Vinay Nair, founder, and CEO of TIFIN and co-founder and Chairman of Magnifi. “Magnifi’s combination of language recognition, best match algorithms, comparison calculators, and ability to act is opening a new opportunity to those who want to drive better outcomes with a modern e-commerce experience. These managed portfolios are designed for investors who have a viewpoint about the future of the world but don’t have the time, expertise or access to properly research a basket of individual companies or to manage them on an ongoing basis.”

Thematic exposures investors can access in the initial launch include Digital InfrastructureElectric & Autonomous VehiclesHealthcare InnovationFintechNanotechnology, Robotics, and Big Data.

“TIFIN and Magnifi are pairing advanced technology and the best ideas from Morningstar to bring direct indexing to everyday investors,” said Ron Bundy, president of Morningstar Indexes. “Our innovation-themed indexes built into this solution are based on rigorous research from Morningstar equity analysts and can help Magnifi’s investor clients meet the rising demand for thematic approaches with simplified identification, execution and management of innovation-based investment themes.”

TIFIN announced a strategic investment from Morningstar earlier this year to fuel the growth of its fintech platform, enabling wealth and asset managers to meet the rising demand for personalized investor experiences.

For more information about Magnifi or to open an account, please visit https://magnifi.com.

About TIFIN

TIFIN, also known as THE TIFIN GROUP, is using AI and investment driven personalization to shape the future of investor experience with a platform of intelligent products that recognize the uniqueness of each investor. Powered by an ecosystem of leaders in finance and technology, TIFIN builds next-gen products by combining investment intelligence, data science, and technology to make investing a more powerful driver of financial wellbeing.

About Magnifi

Magnifi is a financial search and ecommerce platform that is changing the way people shop for investments. The world’s first semantic search engine for finance, the platform helps financial advisors, portfolio managers, and everyday investors find, compare, and act on investment options. In an era with thousands of ETFs, mutual funds, stocks, and model portfolios to choose from, Magnifi demystifies and simplifies investing, providing insights and information that save time and help investors make smarter decisions. Learn more at www.magnifi.com

Contact:
Deborah Kostroun
[email protected]  
201.403.8185