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Harness Wealth Launches Net Worth Tool to Provide Transparency into Individuals’ Net Worth and Asset Allocation.

New York, NY – August 14, 2019: Harness Wealth, a New York -based WealthTech company, has launched an exciting new product, the Harness Wealth Net Worth Calculator, which draws on detailed Federal Reserve data to help Americans understand true benchmarks for their wealth and provides insights to inform their financial planning. The tool helps individuals create a detailed estimate of their personal net worth and asset allocation, then compares it to their broader peer-set and provides insights on ways to optimize their net-worth.

Harness Wealth is a digital platform that is creating the future of wealth management. It uses tools and insights to help individuals identify ways to optimize their financial returns, tax efficiency & estate plan, and then uses its proprietary algorithm to pair clients with the best tailored advisers to execute on those opportunities. Harness Wealth was founded by David Snider, CEO, and Katie English, CMO, in 2018.

To use the Calculator, individuals input their assets and liabilities, including investment accounts, retirement accounts, and real estate, as well as mortgage(s) and other debt. Those inputs are then compared to Harness Wealth’s broader data set from the Federal Reserve, and individuals are shown where their net worth places them as a percentage of households in their age group. The tool also shows how an individual’s asset allocation compares to the typical allocation of their age group and draws insights to identify opportunities for individuals to maximize their wealth.

“I believe that enabling people to contextualize their wealth, goals and opportunities is a powerful way to enable clients to unlock financial opportunity. This product is a powerful resource to assist with that” notes David Snider, Founder and CEO.

The Federal Reserve data that Harness Wealth analyzed for this tool also reveals interesting broader insights about the wealth composition in America. For example, the top 10% of U.S. wealth has over $1.2M in assets and the top 1% of wealth is over $10.4M. Additionally, for households with less than $1 million in net worth, nearly 90% of all households, the value of their primary residence typically makes up the largest portion of their wealth. For the wealthiest 0.1%, those with over $43 million in net worth, business interests and investments in stocks, bonds and mutual funds tend to comprise the largest allocations in their portfolios.


About Harness Wealth

Founded in 2018, Harness Wealth is dedicated to helping clients unlock financial opportunity to achieve their best financial future through a holistic and personalized approach. We provide a unified data platform that enables clients to manage their financial picture. We then pair them with a highly curated set of top tax, financial and legal advisers, and power those ongoing relationships with our proprietary technology.

Harness Wealth has assembled an elite team of entrepreneurs, financial service veterans and industry experts. Its team includes engineers from Kensho, TD Ameritrade, Oscar Health, and Goldman Sachs, while its investors include Bain Capital Ventures, Sinai Ventures, and Marc Benioff’s Family Office. Harness Wealth’s Advisory Council includes industry veterans such as Maliz Beams, former CEO of Voya Financial, and John Koskinen, former Commissioner of the IRS.