Invested.In announced that the company has recently acquired MyNewFinancialAdvisor Inc., (MNFA). As per the agreement, MNFA will operate as a new independent division of Invested.In. The development enables MNFA to power up its portfolio through crowdfunding technology.
Frank Troise, founder of MNFA said, “In today's environment, providing efficient capital is a key asset to any CEO/CFO. We are in the unique position now as a result of being acquired by Invested.In, to be able to offer this capital raising feature to prospective new clients. We are opening up wealth management accounts at the very beginning of wealth creation. No other firm has this today or is this far upstream in the lifecycle of client acquisition.”
MNFA is an online platform connecting Baby Boomers to the financial advisors. The company’s FreeRetirementReport.com offers in-depth analysis of financial advice and other related information to Baby Boomers on the lines of its ultra-high-net-worth clients.
Invested.In is engaged in providing crowdfunding platforms for donations, rewards, lending and equity applications. The company was bestowed with Los Angeles Venture Association's "Best Marketplace Platform for Funding Award", earlier this year.
MNFA launched complimentary crowdfunding portals by partnering with various renowned venture capital firms and offered the same as a value-added service to the senior executives of its portfolio companies. The company was able to demonstrate the success of this business model with wealth management requests flowing in from the executives using the portal first hand. This also provided the company with an opportunity to pitch for managing the portfolio company’s 401K plans.
Crowdfunding gained significant popularity following the JOBS Act review by SEC (News - Alert), which has provisions for companies to acquire accredited as well as non-accredited investors. MNFA’s current focus is to add many more venture capital firms to its portfolio through a specific focus only on companies that have atleast raised Series A round of financing. MNFA has also inked partnership deals with DFA wealth management organizations as well as TAMPs for seamlessly offering its wealth management functions.
Speaking of Crowdfunding’s growing significance, Brian Coryat CEO of Local Market Launch, said, “As a start-up focused on driving value to local companies, this lowers the barrier for capital for all companies nationwide. Your best investors are your customers, and what better way for them to participate in the success of your company than in crowdfunding.”
Edited by Stefania Viscusi