GeoWealth Closes $18 Million Investment Round led By BlackRock

GeoWealth, a proprietary technology and turnkey asset management platform (TAMP), today announced that it has closed a $18 million growth investment led by BlackRock (NYSE: BLK). GeoWealth will use the funding to support the continued development of offerings that enable advisors to meet client demand for access to an increasingly broad range of asset types in a unified account. Kayne Anderson Growth Capital, the dedicated growth capital strategy of Kayne Anderson, which led GeoWealth’s Series B funding in 2021, participated in the round, as did J.P. Morgan Asset Management, a strategic investor in GeoWealth since 2018.

“We’re thrilled to enter this next phase of our growth journey with the backing of BlackRock as a strategic partner and investor,” said Colin Falls, Chief Executive Officer of GeoWealth. “As we continue to invest in our proprietary technology, we will build new offerings that provide RIAs with a flexible, customizable and user-friendly platform. We’re deeply appreciative of our capital partners for their continued support of our business and growth ambitions.”

The capital will be used to facilitate new growth initiatives led by EVP, Chief Growth Officer Brendan Falls and new product initiatives led by EVP, Chief Product Officer Cliff Schoeman. Planned product enhancements include the continued development of unified managed account (UMA) capabilities and functionalities that support alternative investments reporting and tax management. These enhanced offerings are all designed to optimize the user experience for advisors, enabling them to provide flexible investment solutions to the clients that they serve.

“RIAs are in the DNA of GeoWealth. This investment and partnership emphasize our commitment to continual innovation for the benefit of RIAs, delivering more scalability, flexibility, customization and exceptional service,” said Jack Hannah, President & Chief Operating Officer.

As of December 31, 2023, GeoWealth’s platform supports more than $28 billion of assets, with more than 180,000 accounts managed by nearly 200 registered investment advisors (RIAs). For more information about GeoWealth’s customizable, tech-forward solutions designed to serve RIAs of all sizes, please visit geowealth.com.