Wealthcare Reports Year of Significant Growth and Upward Momentum with More than 150 Advisors and $5 billion AUM

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Matt Regan, President of Wealthcare, comments, "2022 was certainly a challenging year in the broader markets.

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Retrieved on: 
Tuesday, February 7, 2023
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Barron's, Roger W. Jones Award for Executive Leadership, Woman, Human, FA, AUM, Proactivity, RIA, Risk, OneTrust, Financial management, Practice management software, Company 3 TFCA Luminary Award, Partnership, Growth, Sommers Light, RIAS, Practice management, Social media, Lunch, Financial adviser, American Health Care Act of 2017
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Summary
Key Points: 
  • Matt Regan, President of Wealthcare, comments, "2022 was certainly a challenging year in the broader markets.
  • However, through hard work and a focus on elevating our unique offering for advisors and their clients, Wealthcare bucked downward industry trends and continued to thrive.
  • In addition to the increase in AUM through our recruiting and M&A efforts, our advisors continue to grow their practices at 3-4 times the industry average.
  • The Historical Audit capability allows advisors to take a thoughtful approach to dividing various periods of capital market assumptions.


Wealthcare Reports Year of Significant Growth and Upward Momentum with More than 150 Advisors and $5 billion AUM

WEST CHESTER, Pa., Feb. 7, 2023 /PRNewswire/ -- Wealthcare Advisory Partners LLC ("Wealthcare") a technology-enabled full-service RIA that supports independent financial advisors and a NewSpring Holdings platform company, today shares its impressive growth from 2022 as it continues to expand through thoughtful acquisitions and strategic partnerships while continuously enhancing its dynamic planning and investing platform.

Wealthcare added 16 advisor groups and $941 million of AUM through recruiting and M&A activities in 2022 and ended the year crossing the $5 billion mark in regulatory AUM for the first time in the firm's history.

Matt Regan, President of Wealthcare, comments, "2022 was certainly a challenging year in the broader markets. However, through hard work and a focus on elevating our unique offering for advisors and their clients, Wealthcare bucked downward industry trends and continued to thrive. In addition to the increase in AUM through our recruiting and M&A efforts, our advisors continue to grow their practices at 3-4 times the industry average. We're looking forward to continued opportunities for success in 2023."

Wealthcare's key achievements:

Acquisitions
2022 saw Wealthcare enter the M&A markets for the first time, and the firm completed their first three acquisitions adding $330 million of direct advisory assets. Eagle Financial (over $120 million AUM), Fellows Financial Group (over $100 million AUM), and Sommers Financial Management (over $100 million AUM) are now doing business as wholly owned subsidiaries of Wealthcare with a focus on growth partnership.

Awards
Wealthcare continues to earn top industry accolades and recognition. In the last 12 months, the group has been included in the Barron's 2022 List of Top 100 RIA firms for the third consecutive year, improved its ranking in the FA Magazine 2022 RIA Survey and Ranking List, and was the winner of Wealth Solution Report's Wealth Exemplar Awards in the Practice Management Platform of the Year category. Matt Regan was recognized as a finalist in ThinkAdvisor's Luminaries Awards in the Executive Leadership category. Additionally, Wealthcare was included in -Advisorhub's "4 RIAs to Watch" list with two of their advisors also receiving recognition in -Advisorhub's "50 Solo Practices" and "100 Fast Growing Advisors" lists.

Technology Development
Wealthcare also introduced key enhancements to its patented GDX360® platform, including the Proactive Planning Module and Historical Audits. The Proactive Planning Module is a forecasting model that allows advisors to anticipate when plans may be at risk and proactively make changes. The Historical Audit capability allows advisors to take a thoughtful approach to dividing various periods of capital market assumptions. Through this technology, advisors can show clients retroactively how a plan would have performed during a specified time-period.

Strategic Partnerships
The firm announced new partnerships with industry-leading organizations Wealthbox, Pontera, Tifin Clout, Healthpilot, RetireOne, and OneTrust to elevate its technology platform for forward-thinking advisors, providing the most robust service offering in the wealth management space.

Practice Management and Support

Women's Forum
Launched in 2021, the Wealthcare Women's Forum provides an opportunity for like-minded and diverse women in the financial services industry to network and exchange ideas and experiences. The 20+ members of this group come together on a quarterly basis to support each other with advice on issues that bridge the work/life balance, such as stress, finding time for conferences and professional development opportunities, and balancing the multitude of responsibilities held by professional women today. The group gives women a voice in the firm and the opportunity to build relationships with their peers, which is more important than ever as remote working has become the norm.

NextGen Advisor Group
To encourage advisor connection and share best practices, Wealthcare also launched its NextGen Advisor Group in 2022 with a mission to bring together some of the younger generation of the Wealthcare advisor community and help find efficient and innovative ways to marry high-tech capabilities with high-touch personal service. The growing number of advisors in the group focus group meet on a quarterly basis in a "lunch and learn" forum to discuss topics such as practice management, new technologies, and optimizing social media.

About Wealthcare

Wealthcare architected its original goals-based planning and investing methodology more than 20 years ago and holds 12 patents on its established goals management process. Powered by its patented Comfort Zone®, Wealthcare's approach features innovative, personalized experiences and step-by-step tools that create deeper relationships between advisors and investors. Wealthcare empowers firms and advisors to go independent and grow their advisory businesses by providing GDX360® – Wealthcare's proven fiduciary process that seamlessly integrates planning, investing, and trading – and a full-suite of practice-management services. Wealthcare comprises two RIAs, Wealthcare Advisory Partners LLC, and Wealthcare Capital Management LLC. Learn more at www.wealthcaregdx.com.

About NewSpring Holdings

NewSpring Holdings is NewSpring's dedicated holding company with a strategy focused on control buyouts and platform builds, brings a wealth of knowledge, experience, and resources to take profitable, growing companies to the next level through acquisitions and proven organic methodologies. Founded in 1999, NewSpring partners with the innovators, makers, and operators of high-performing companies in dynamic industries to catalyze new growth and seize compelling opportunities. The firm manages over $2.5 billion across five distinct strategies covering the spectrum from growth equity and control buyouts to mezzanine debt. Partnering with management teams to help develop their businesses into market leaders, NewSpring identifies opportunities and builds relationships using its network of industry leaders and influencers across a wide array of operational areas and industries. Visit NewSpring at www.newspringcapital.com.

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SOURCE Wealthcare

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