Grove raises $2.1 million for hybrid financial planning: Fintech flash briefing for February 12, 2018

Here are the links to today’s stories:

Grove raises $2.1M to find the sweet spot between old-school financial advisers and chatbots from TechCrunch

Riskalyze Retirement Solutions Goes Live from Riskalyze

Laserfiche rolls out SaaS solution for document management in the cloud from YouTube

Welcome to the FPPad fintech briefing, Here are the top fintech stories you need to know today.

Grove Raises $2.1 Million for Hybrid Financial Planning Service

A new startup wants to make financial planning services more accessible and affordable for the nation’s savers. The company is called Grove, based in San Francisco, who just announced it raised $2.1 million dollars in a seed round to launch a hybrid software-and-human powered financial planning service. According to TechCrunch, Grove combines account aggregation software with advice from Certified Financial Planner certificants, with two CFP’s listed on the company’s website, all for an annual membership fee of $600. The company says that automated investment management services are also available for an additional 25 basis points of assets under management.

Riskalyze Rolls Out Riskalyze Retirement Solutions

In the retirement plan space, Riskalyze announced the formal launch of Riskalyze Retirement Solutions, a joint offering with Vestwell to provide an end-to-end digital platform to financial advisors looking to manage 401(k) retirement plans. The new platform leverages the proprietary Risk Number methodology to propose appropriate asset allocations to retirement plan participants, and then streamlines the account on boarding process with custodians such as TD Ameritrade and Trust Company of America. Riskalyze Retirement Solutions is available to all existing Riskalyze advisors at no additional cost.

Laserfiche Introduces Cloud Offering

And what’s the latest news in document management software for advisors? I recently connected with Laserfiche’s Linda Ding to learn more about the company’s new offering of Laserfiche now available in the cloud:

With more demand on the rise for mobile-driven solutions, especially for document management, this year we’re rolling out a full SaaS model for document management, especially for smaller financial advisors, this is the perfect model. It’s cost-efficient, very competitive in terms of monthly cost, but you will find all the on-premise features, especially on the workflow automation and electronic forms collection, is inclusive in the SaaS model for Laserfiche users.

For more details on the new Laserfiche offering, head over to to get all the links to today’s top stories.

I’m Bill Winterberg, and those are your fintech headlines for today from, be sure to check back in with me later for more fintech news.



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