MutualFundWire.com
   The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
Friday, May 26, 2017 Family Offices Bet $25MM on a Cyborg Advisor Alliance Some family offices are betting on both human and roboadvice at the same time by supporting a Silicon Valley startup and its new alliance. Cyborg advice is gaining fans.
Pricing and exact terms of the Prumentum-PlanCorp strategic partnership were not disclosed. Yet Plancorp president Chris Kerckhoff tells InvestmentNews that Prumentum bought a 40-percent stake in Plancorp. And the door is open to Prumentum eventually buying up the remaining 60 percent of Plancorp (currently held by 14 Plancorp employees, including founder Jeff Buckner). PE Hub and TechCrunch also reported on the Prumentum and Plancorp news. "We're taking the financial planning methodology Plancorp has been using for decades," Marthin De Beer, CEO of Prumentum, tells TechCrunch. "Now we can bring it to anyone regardless of their net worth." "Our partnership with Prumentum enables us to provide the hybrid solution we've been searching for," Kerckhoff states. De Beer, a Cisco alumnus, co-founded Prumentum with Robert Wallace. The Prumentum-PlanCorp partnership, in which a Silicon Valley techie shop is buying into a Midwestern traditional RIA, is reminiscent of when 401(k) advice giant Financial Engines bought the Mutual Fund Store last year. Printed from: MFWire.com/story.asp?s=56334 Copyright 2017, InvestmentWires, Inc. All Rights Reserved |