AI Wealth Management Company Savvy Wealth Completes $100 Million Series C Financing, Valued at $600 Million, Led by Halo Fund
Savvy Wealth secures $100 million in Series C funding, valued at $600 million
AI wealth management company Savvy Wealth has completed a $100 million Series C financing round, with a valuation of $600 million, led by Halo Fund, bringing its total funding to over $200 million.
Halo Fund is operated by Qualtrics founder Ryan Smith and Accel partner Ryan Sweeney. Co-investors include Thrive Capital, Goldman Sachs' Industry Ventures, Canvas Prime, Index Ventures, House Fund, Euclidean Capital, Alumni Ventures, and Vestigo Ventures, led by former LPL Financial CEO Mark Casady. The founder and CEO is Ritik Malhotra, and the company was established in 2021. Previously, it raised $72 million in Series B in July 2025 and $26.5 million in Series A in August 2024.
Savvy operates with a registered investment advisor license, managing approximately $9 billion in client assets with about 150 advisors. By 2026, it aims to recruit over $4 billion in assets and double its number of advisors year-on-year, claiming to be close to $100 million in annual recurring revenue. Savvy Intelligence uses large models from OpenAI and Anthropic to integrate investment, tax, and financial planning data. The new funding will be used to further embed this software into advisors' daily workflows and to hire technical staff.
The valuation has increased approximately 6.6 times compared to about 15 months ago. The company has structured its model to allow advisors to retain equity in their practice and scale using platform software, countering the trend of private equity acquisitions of independent advisory firms. Inc. 5000 has listed it among the fastest-growing financial services companies, with revenue growth exceeding 13,000% over three years.
In market mechanics, this represents venture capital pricing for advisor distribution networks: the funding buys replicable client acquisition and compliance software, not a single advisory brand. The beneficiaries are independent advisors who can retain client relationships while using the platform model; the pressured parties are traditional consolidators that expand through acquiring licenses and client lists. Capital flows from growth round funds into RIA licenses and software development, and then through advisor recruitment to increase managed assets.
The round was oversubscribed, but the $600 million valuation corresponding to $9 billion in managed assets still depends on whether advisors can continuously bring in assets, rather than just model demonstrations.
Source: Public Information
ABAB AI Insight
Savvy simultaneously holds RIA licenses and software subscriptions, embedding OpenAI and Anthropic into the advisor workflow, avoiding the hollowing out of merely providing tools without assets. Halo comes from enterprise software and growth rounds, not traditional brokerage parent companies, indicating that the pricing anchor is recurring revenue and advisor count, not commission pools. Mark Casady on the board means integrating LPL's advisor distribution experience into governance. The valuation has multiplied several times in 15 months, corresponding to recruiting $4 billion in assets, rather than a new license category.
The capital path involves continuous investment from seed to Series C in the same group of institutions, then converting cash into recruitment and product development. The logic of private equity consolidating RIAs is to buy client books; Savvy takes the opposite approach, allowing advisors to hold equity and using models to reduce operational headcount. The rapid expansion of managed assets compared to advisor numbers indicates an increase in productivity per advisor, as well as rising concentration.
In contrast to C-end robots like Betterment and Wealthfront, and acquisition machines like Focus Financial and CI Financial. The industry's position is shifting from channel consolidation to software control: whoever can enable independent advisors to access institutional-level research and compliance without selling their firms will capture the targets of consolidators.
This represents technological substitution: meetings, tax preparation, and proposal writing are being handled by intelligent agents, leaving advisors with client relationships. The mechanism is that large models standardize back-office operations, while equity structures keep the front office in the hands of advisors, with venture capital paying a premium for this separation.
ABAB News · Cognitive Laws
Advisors must not sell client books for software to be priced on a subscription basis
Models can integrate reports but cannot buy client trust itself
Private equity buys licenses, while venture capital buys operating systems that retain advisors