SmartAsset Celebrates More Than $1 Billion in New Assets Under Management Facilitated for Pure Financial Advisors

The billion-dollar milestone for Pure positions SmartAsset as a leading facilitator of new assets under management (AUM) in the wealth management space

NEW YORK, May 8, 2024 /PRNewswire/ -- SmartAsset, the web's largest marketplace connecting consumers to financial advisors, announced Pure Financial Advisors, LLC ("Pure") has reported generating more than $1 billion in new AUM through its SmartAsset partnership, with another several hundred million in its pipeline. Pure's accomplishment provides another proof point of SmartAsset's ability to drive organic growth and help its partner firms build enterprise value. 

"Generating over $1 billion in new AUM - approximately 1,000 new clients - is a clear indication of the quality of Pure's value proposition and also our ability to drive and scale organic growth for our wealth management partners," said Michael Carvin, founder and CEO of SmartAsset. "Pure's performance demonstrates that aggressive, double-digit organic growth rates are achievable in wealth management with dramatically better capital efficiency than M&A. Last year, our partner firms closed an estimated $34 billion in new AUM.** Wealth management firms with a good consumer offering, ready to commit to best practice, can exceed their growth ambitions."

Since partnering with SmartAsset in 2019, Pure has grown to $6.29 billion in AUM (as of March 25, 2024), expanded from four locations - all in Southern California - to eight locations across four states and completed four acquisitions.

"Our team is proud to celebrate this achievement with SmartAsset," said Joe Anderson, CEO & President of Pure.* "We have seen a remarkable return on investment and comparatively low client acquisition costs even as we've multiplied our spend over the years. Furthermore, we are notably more confident in our expansion plans in adding new advisors and entering new markets, as we've done in Seattle, Chicago and Sacramento, knowing we have a reliable partner like SmartAsset to support such growth efforts."

Following the launch of SmartAsset's new Advisor Marketing Platform (AMP), Pure expects to expand on the partnership to generate more qualified leads and provide more value-added services for existing clients.

"We intend to not just continue to partner with SmartAsset but to increase the magnitude and scope of our partnership as we continue on our growth journey and mission of providing fee-only, credentialed financial education, planning, and investment advice to all those in need of it," Anderson said. "SmartAsset has given us a new medium by which to access people who need our services and help, and our goal is to continue increasing that access in existing and new markets and in new and innovative ways with SmartAsset's help."

With AMP, SmartAsset has expanded its services to help registered investment advisors (RIAs) grow their AUM with more confidence by both accessing a stream of validated investor referrals as well as automating a significant part of the nurturing process. Designed to target a specific number of new clients per year, AMP is available in three tiers, Discover, Accelerate, and Scale as well as bespoke packages for larger firms. As SmartAsset continues to scale its newly launched platform, it aims to empower more firms to accelerate their growth and surpass the $1 billion threshold.

For more information on Pure's success with SmartAsset, visit this link: [LINK]

About SmartAsset

SmartAsset is an online destination for consumer-focused financial information and advice. Reaching an estimated 69 million people each month (as of January 2024) through its educational content and personalized calculators and tools, SmartAsset's mission is to help people make smart financial decisions. In 2021, SmartAsset ranked #561 on the Inc. 5000*** and #160 on the Deloitte Technology Fast 500tm lists of fastest-growing companies,*** while additionally closing a $110 million Series D funding round, valuing the company at over $1 billion. Currently, SmartAsset ranks on Y Combinator's list of Top 100 Companies of all time***. For more information, please visit SmartAsset.com.

*Pure Financial Advisors, LLC is an actual SmartAsset client. Statements are individual experiences reflecting the real-life experiences of those who have used our services. The testimonials are not 100% representative of all of those who use our products and/or services, and we make no admissions of such. Additionally, they have not been paid for their insights.

 **The estimated AUM closed by advisors from SmartAsset referrals is based on the number of matches made between validated investors reporting over $25K in investable assets and advisors in 2023. Further, the calculation assumes: a 4% close rate (based on data collected from partners and industry benchmarks) and an average amount of assets per household of $996K, that was calculated from self-reported asset ranges in the advisor matching survey. The calculation is: Valid Matches*Average Assets Per Household*4% Conversion Rate

***Other than application and licensing fees, SmartAsset did not provide compensation for the aforementioned awards.

Contact
Steve Sabato
Public Relations
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SOURCE SmartAsset