Farther Announces Significant Growth in Assets Under Management to Nearly $700 Million
5x AUM Growth Year-Over-Year for Farther, Demonstrating Rapid Expansion Despite Challenging Market Conditions | April 20, 2023
NEW YORK, NY – WealthTech firm, Farther, reported assets under management (AUM) of $675 million – representing nearly 5x year-over-year growth – continuing the firm’s rapid rise since its establishment in 2019.
Founded by Taylor Matthews and Brad Genser, Farther is a digital wealth management firm that provides a hybrid approach to advising clients: combining modern technology with the bespoke, financial expertise of a seasoned wealth advisor. The firm’s rapidly growing AUM demonstrates the rising class of modern, high-net-worth professionals – who are building generational wealth and turning to Farther for a more holistic approach to managing their money.
“We are thrilled to celebrate Farther’s fourth anniversary with the remarkable achievement of 5x growth in assets under management since the start of 2022. This accomplishment is a testament to the dedication and innovation of our team, and we couldn’t be prouder of what we’ve accomplished in just one year,” said Farther Co-Founder & CEO, Taylor Matthews. “As we look toward the future: we are continuing to lead the way in innovating the wealth management industry – while driving growth and success for our advisors, clients, and partners.”
Accompanying Farther’s continued growth in clientele, the firm is expanding its services and investment opportunities. To mark the exponential growth in AUM, Farther debuted an impressive range of new partnerships for its clients:
- 55ip: Farther’s collaboration with the fintech firm, 55ip, delivers tax-smart solutions for clients when managing investments.
- StepStone Private Wealth: StepStone Private Wealth grants Farther investors access to transparent and convenient private market assets, transforming portfolios to enhance long-term outcomes.
- Wealth: Clients will have comprehensive, digital estate planning services – powered by Wealth – on the Farther portal.
- Ethic: Ethic, an independent asset manager, will enable Farther advisors to incorporate personalized, sustainable investing into the portfolios of clients.
- Vint: Vint offers Farther clients a way to further diversify their investment portfolios, via shares in collections of fine wine and rare spirits.
To keep pace with Farther’s AUM, Farther has doubled its headcount in the last year to nearly 80 employees nationwide – including wealth advisors, client experience professionals, engineers, and product team members.
Farther is a new kind of financial institution: combining expert advisors and cutting-edge technology to deliver a comprehensive, personalized client experience. Backed by top-tier venture capital firms, Farther caters to high-net-worth professionals who are building generational wealth and need a more holistic approach to managing their money.