WealthTech Company Harness Wealth Launches Its Services to the Public Poised to Transform Access to the Best Financial, Tax, and Trust & Estate Planning

Harness Wealth Offers Pioneering Approach to Serve Gen X with much needed holistic and tech-enabled offering.

New York, NY — June 25, 2019: Harness Wealth, a New York-based WealthTech business focused on giving individuals access to the best financial advice, will open its platform to the public today.

By combining cutting-edge technology with the top human advisers, Harness Wealth provides clients with a superior holistic and personalized wealth planning solution.  The platform uses a proprietary algorithm that takes the current and future needs of clients and pairs them with highly vetted advisers who are best suited to address their clients’ opportunities.  This network includes some of the most experienced and talented independent financial advisers, CPAs, and Trust and Estate Attorneys across the United States.  Harness Wealth conducts an extensive due diligence process on each adviser prior to their joining its platform, gathering and assessing over 120 attributes.

Harness Wealth was founded by entrepreneurs and financial service veterans, David Snider and Katie Prentke English.  Snider, who serves as Chief Executive Officer, was previously the Chief Operating Officer & Chief Financial Officer at Compass, a real estate technology company, which he helped grow from pre-launch to a $1.8 billion valuation.  He was also an investor at Bain Capital. English, who serves as Chief Marketing Officer, was previously the Chief Marketing Officer at Nutmeg, the largest digital investment adviser in Europe.  She was also previously Head of UK Digital Acquisition at American Express and a Global Investment Adviser at the JPMorgan Private Bank in New York.

Since January, Harness Wealth has worked with clients on an invitation-only basis in order to manage demand and continue to enhance the product experience.

“We have been thrilled at the initial interest we have received from customers on our service and are excited to begin helping more people to reach their best financial future,” says Snider, Harness Wealth Founder & CEO, “Whether it’s managing equity compensation, an inheritance, or family estate planning, there is an urgent need for individuals to get access to better holistic advice.  We built this business to provide that.”

Harness Wealth’s clients are comprised of mid-career professionals with high earning potential, mainly Gen X households.  While most FinTech players have chosen to focus on millennials, Harness Wealth has instead chosen to focus on a Gen X consumer. This group’s needs have been underserved by existing providers yet is expected to command nearly twice as much in total assets as Millennials by 2030 – $22 versus $12 trillion.[1]  According to a recent survey conducted by Harness Wealth, Gen X consumers want a human/tech hybrid solution for their financial planning.  In fact, the survey showed that those who manage their finances with a financial adviser are nearly twice as happy with their solution as those that self-manage, and 90% believe digital functionality is an important part of the solution.

“More than ever Gen X individuals are in need of good financial planning. They are transitioning into their peak earnings, many have more complex family needs with both children and aging parents to support, and they are going to be the largest beneficiary of the biggest wealth transfer ever over the next 10 years,” says Katie Prentke English, Harness Wealth Co-Founder and CMO, “Harness Wealth is a way for those individuals to ensure they are receiving the best advice and planning to achieve their future goals.”

 

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 relationship 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 Bean, former CEO of Voya Financial, and John Koskinen, former Commissioner of the IRS.

[1] https://www.wsj.com/articles/wealth-management-firms-battle-over-millennials-1537754880