ST. LOUIS, May 25, 2017 /PRNewswire/ -- Plancorp, a St. Louis, MO-based, fee-only wealth management firm which manages $3.6 billion in assets, and Prumentum Group, a WealthTech company based in Silicon Valley, today announced a strategic partnership to launch a direct-to-consumer Hybrid-Robo financial planning platform. As part of this partnership, Prumentum acquired a significant equity stake in Plancorp.
The platform, which is a wholly-owned Prumentum subsidiary called BrightPlan, evaluates a user's entire financial picture to create a comprehensive and customized set of financial objectives. Together with Plancorp's personalized financial guidance, this technology is aimed at inspiring clients to create and pursue their financial life goals while tracking progress every step of the way via the inclusive capabilities of a digital and interactive planning tool.
"For many years, we at Plancorp have been actively pursuing an innovative digital solution that extends beyond simply focusing on investments," said Chris Kerckhoff, president of Plancorp. "This partnership enables us to provide the hybrid solution we've been seeking with a firm, Prumentum, that shares our values and fiduciary commitment to clients. We're excited to offer BrightPlan to our clients and deliver the future of financial planning for investors."
Unlike other robo solutions, mostly focused on investment advice, BrightPlan's Hybrid-Robo solution is centered on a goals-based financial planning approach. Users track their goals in conjunction with their assets in real time, creating a solution that is both comprehensive and actionable. This provides clients with access to an innovative digital platform, as well as to an experienced financial life advocate when they feel that their situation requires it—offering a true human-tech integrated solution.
"By combining the proven wealth management expertise of Plancorp with the advanced technology of BrightPlan, we are uniquely positioned to deliver an exceptional service that inspires people to set life and financial goals, and easily implement and track their plan for success," said Marthin De Beer, CEO of Prumentum.
BrightPlan will be launching later this year and is currently accepting requests for early access at http://brightplan.com.
Plancorp LLC, a partly owned subsidiary of Prumentum Group, was founded in 1983 as a fee-only financial planning firm in St. Louis, MO. Plancorp is an SEC-registered investment advisor with more than $3.6 billion in AUM. Plancorp provides financial planning and asset management services to individuals, families, corporations and institutions. Service offerings also include corporate retirement plans and exit strategy for business owners looking to transition their business.
Plancorp was one of the nation's first registered investment advisors to become certified by the Center for Fiduciary Excellence (https://www.cefex.org) in 2007. Through independent audits, the firm has earned this certification every year since.
The Prumentum Group, Inc. is a Wealth-Tech company founded by Marthin De Beer and Robert Wallace to make financial planning accessible to everyone, regardless of net worth. Prumentum Group combines transformational digital capabilities and proven wealth management solutions with access to financial advisors, enabling more people to realize their dreams and aspirations.
BrightPlan LLC, a wholly owned subsidiary of Prumentum Group, is a digital Registered Investment Advisor (RIA) led by a team of experienced Silicon Valley executives and technology innovators with extensive software and industry expertise. BrightPlan provides comprehensive, goal-based wealth management recommendations supported by Nobel Prize-winning research, enabling financial planning for life, not just retirement.