SmartAsset Acquires DeftSales to Help Advisors Grow their Practices

SmartAsset Acquires DeftSales to Help Advisors Grow their Practices
  • Financial advice platform SmartAsset has acquired advisor prospect engagement company DeftSales.
  • The company has integrated DeftSales into its SmartAdvisor advisor growth solution, renaming the technology DeftSales by SmartAsset.
  • The new tool helps advisors respond to leads instantly, enabling them to engage warm leads before another advisor follows up first.

Financial advice platform SmartAsset is acquiring prospect engagement company DeftSales this week for an undisclosed amount.

Founded in 2020, DeftSales offers tools that integrate with a range of CRM platforms to automate financial advisors’ business development outreach and provide analytics insights on client engagement. The technology helps advisors respond to leads instantly, enabling them to engage warm leads before another advisor follows up first.

“We are enormously excited to announce the acquisition of DeftSales and we look forward to integrating their solutions with our own SmartAdvisor platform,” said company CEO and Founder Michael Carvin. “The feedback from advisors using DeftSales has been incredibly clear – by automating many tasks, it dramatically decreases the work required to be successful in converting SmartAdvisor prospects into clients.”

SmartAsset has integrated DeftSales into its SmartAdvisor advisor growth solution, renaming the technology DeftSales by SmartAsset. The new solution integrates SmartAsset’s compliant user interface with DeftSales’ automated campaigns and analytics. DeftSales by SmartAsset offers automated emails and text messages, FastCall technology that enables advisors to follow-up on leads while they are busy with a current client, and an analytics dashboard to monitor engagement efforts.

DeftSales Co-Founder and COO James Fason will join the SmartAsset team as Director of Engineering.

SmartAsset has a mission to help people make smart financial decisions. The company’s educational content, calculators, and tools reach 75 million people each month. In 2021, the New York-based company raised $110 million in funding, boosting its total funding to more than $161 million. And the company is still growing. SmartAsset has brought on 27 new hires so far this year.

Photo by Tima Miroshnichenko

SmartAsset Secures Unicorn Status with $110 Million Investment

SmartAsset Secures Unicorn Status with $110 Million Investment

SmartAsset, a fintech that helps individuals connect with qualified financial advisors and improve their overall financial health, announced a major fundraising this week. The company secured a $110 million investment in a Series D round led by TTV Capital that takes SmartAsset’s valuation to more than $1 billion.

“Our mission is to help people get better financial advice,” SmartAsset founder and CEO Michael Carvin said. “With this additional capital we are going to make further investments in building the web’s best personal finance resource and enhancing our ability to connect consumers to financial advisors across the U.S.” Specifically, SmartAsset noted in its funding announcement that it will invest in new product offerings, technology infrastructure, and data partnerships. The company also pointed to the growth it has experienced since its last major funding in 2018 – growing revenues by 10x and nearing $100 million in annual recurring revenue – to support its goal of “aggressively” adding to its workforce. With 202 full-time employees currently on board, SmartAsset is seeking to expand its workforce by more than 75% this year.

“SmartAsset is quickly expanding its lead in one of the largest markets in the U.S. by providing an incredibly valuable resource for both consumers and financial advisors alike,” TTV Capital Partner Mark Johnson said. “The company helps millions of people make better financial decisions while simultaneously enabling advisors to grow their business.”

Also participating in the round were Javelin Venture Partners, Contour, Citi Ventures, New York Life Ventures, North Bridge Venture Partners, and CMFG Ventures.

More than 100 million consumers access SmartAsset’s personal finance content, tools, and other resources each month. Named one of America’s Best Startup Employers in 2020 by Forbes, the company announced recently that LPL Financial had selected SmartAsset for its Vendor Affinity Program, giving 18,000+ independent financial advisors access to SmartAsset’s SmartAdvisor platform.

“SmartAsset gives (advisors) a new way to connect with investors across the country digitally, while also freeing up time to spend with their existing clientele,” Rob Pettman, LPL Financial EVP for Wealth Management Solutions, said. “It also provides advisors more choice in solutions they can leverage to grow their business.”

SmartAsset began the year by announcing Firoze Lafeer as its new Chief Technology Officer. The company made another addition to its C-suite in April when it hired James Kennedy as its Chief Compliance Officer and Director of Legal. SmartAsset made its Finovate debut in 2014 at FinovateSpring.

Photo by Andrea Piacquadio from Pexels

SmartAsset Launches New Client Acquisition Solution

SmartAsset Launches New Client Acquisition Solution
Photo by chepté cormani from Pexels

One of my favorite stories about financial management involves a new broker who becomes alarmed during a major market meltdown. The broker is fearful of hearing from anxious clients and investors, who he is convinced will demand that he sell everything. He asks his supervisor for advice and his boss replies, “call them.” When the broker hesitates, his boss continues, “call them. If you don’t another broker will. “

Communication with clients is key for all successful financial managers – whether they are long-term customers or new prospects. And this engagement is all the more important when the markets are volatile and nerves are on edge. This is what makes the new service from SmartAsset, unveiled today, a valuable resource for financial managers as well as their customers and clients.

Live Connections, from SmartAsset, enables financial advisors to connect directly with prospective clients by phone. The service is available to U.S.-based certified financial advisors, Registered Investment Advisors (RIAs) and advisory firms via SmartAsset’s SmartAdvisor platform.

Michael Carvin, CEO and co-founder of SmartAsset, said the new innovation was part of the company’s goal to enhance what he called “the match-making experience between consumers and financial advisors.” He added that the service would enable customers to more easily reach financial advisors “when intent is at the absolute highest.” The company notes that the average investor using its platform is 57 years old and has significant assets of nearly $900,000. Yet the vast majority of them – more than 75% – report not having a financial advisor.

The technology also enables advisors to spend more time working with clients and less time hunting for them. “For advisors, Live Connections cuts through the noise as we’re able to instantly connect them with validated consumer leads over the phone,” Carvin said. “All advisors have to do is pick up the call and focus on what they’re good at: advising clients.”

Today’s launch of Live Connections follows a 2019 pilot program in which advisors and firms reported a 100% contact rate and a 20% close/conversion rate with prospects.

One of the world’s most viewed sources of personal financial information, SmartAsset reaches more than 65 million people each month. Most recently demoing its technology at FinovateSpring, New York-based SmartAsset was founded in 2012 and has raised more than $51 million in funding. The company includes Focus Financial Partners, IA Capital Group, and Javelin Venture Partners among its investors.

SmartAsset Scoops Up $28 Million in New Funding

SmartAsset Scoops Up $28 Million in New Funding

New York-based fintech SmartAsset, which provides personalized, automated financial solutions, has raised $28 million in new funding. The Series C round takes the company’s total equity capital to more than $51 million and featured the participation of Focus Financial Partners, Javeline Venture Partners, TTV Capital, IA Capital, and Citi Ventures, as well as other investors.

The company will use the investment to build its audience as well as expand its platform to help more people improve their finances and connect with qualified personal financial advisors.

“This investment will accelerate our mission of becoming the web’s premier resource for personal finance tools and content,” SmartAsset CEO and co-founder Michael Carvin said. “In doing so, SmartAsset will become the largest marketplace for investors trying to find financial advisors and advisors trying to meet new prospective clients.”

More than 45 million people use SmartAsset’s personal finance information and online resources every month. The company’s automated financial modeling software, demonstrated live at FinovateSpring, powers SmartAsset’s tools, financial calculators, and data-driven research and content to give consumers information on personal finance topics ranging from planning for a first-time home purchase or saving for retirement.

SmartAsset also helps individuals find the right financial advisor based on their specific needs. By answering a series of questions – your location, your preferred retirement timeline, how you currently manage your money, and so on – SmartAsset can assess the individual’s general investment preferences and goals and provide up to three recommendations for financial advisors. All of SmartAssets’ recommended advisors are carefully vetted and registered with the SEC or appropriate state regulator.

A finalist for the 2018 Benzinga Fintech Awards, SmartAsset announced a partnership with CRM software provider Wealthbox in April to integrate its SmartAdvisor lead generation solution into the Wealthbox platform. In February, SmartAsset teamed up with America Saves and the American Savings Education Council to promote positive savings behavior during America Saves Week.

Finovate Alumni News


  • BILLSHARK and Payrailz Team Up to Help Consumers Save on Monthly Bills.
  • Hyperwallet Sells to PayPal for $400 Million.
  • SmartAsset Scoops Up $28 Million in New Funding.

Around the web

  • Pindrop launches new risk-based authentication solution for call centers, Pindrop Express.
  • NCR and Tata Consultancy Services (TCS) announce strategic alliance.
  • PayPal acquires Hyperwallet for $400 million in cash.
  • Hancock Whitney Bank picks Envestnet platform to support its broker-deal and trust businesses.
  • U.S. Bank partners with FutureAdvisor to develop Automated Investor, a digital wealth management tool.
  • doxo honored as Gold Stevie Award Winner in 2018 American Business Awards.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alums Earn Top Honors at 2016 Benzinga Financial Awards

Finovate Alums Earn Top Honors at 2016 Benzinga Financial Awards


Finovate alum Trunomi took home two awards at the 2016 Benzinga Fintech Awards this week. The KYC and data-sharing solution provider won first place in the Proprietary Technology & APIs and Most Promising Startup categories.

Also winning top honors were Loyal3, which took first place in the Leveling The Playing Field category, and SmartAsset, which won first place in the Best Educational Tools & Services category.


This year was the second for the Benzinga Fintech Awards. More than 250 companies from five countries competed for this year’s awards, including Founder of the Year which was awarded to TickerTags founder, Chris Camillo.

Other alums earning recognition were runners up PsychSignal (Finding Alpha category) and WealthForge (Lending & Alternative Investments category). TipRanks picked up a runners up spot in the Research Platforms, Apps & Tools category, as well as third place overall. DriveWealth earned an honorable mention in the Innovation in Mobile category for its Passport solution.

See the full list of 2016 finalists.

Jason Raznick, founder and CEO of Benzinga, congratulated this year’s winners and praised their “forward thinking and product development.” This year marked the second strong performance at the Awards from Finovate alums in general and TipRanks in particular, which in 2015 took top honors in Trade Recommendations category in 2015. Other alum winners from 2015 include Betterment, EquityZenLikeFolioMarket Prophit, Motif InvestingPersonal Capital, and HedgeCoVest, which won runners up in the Most Disruptive category, Best in Class in the Robo Advisor Tools category, and first place overall.

SmartAsset Gives Users Tools to Navigate Complex Financial Situations

SmartAsset Gives Users Tools to Navigate Complex Financial Situations


This post is part of our live coverage of FinovateSpring 2015.

SmartAsset showed how it helps users understand complex financial information:

We’ve launched a revamped version of our site that allows the user to navigate through our tools more easily and bring an increased layer of transparency to our recommendations. The new format provides a simpler, more intuitive understanding of how the complex financial decisions users are about to make will impact their finances and lives.

Presenters: Michael Carvin, CEO and founder; Chris Spadafino, VP of sales



Metrics: SmartAsset has raised over $7M and is backed by investors including Y Combinator, Javelin Venture Partners, North Bridge Venture Partners, Quotidian Ventures, Peterson Ventures and more.
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B)

Twitter: @SmartAsset

FinovateSpring 2015 Sneak Peek: Part 8

FinovateSpring 2015 Sneak Peek: Part 8


Today marks our final Sneak Peek preview. We hope you’ve enjoyed the opportunity to get to know a little about the companies that will be taking the stage at FinovateSpring 2015.

Register today to see and meet these innovators in person on 12/13 May at our upcoming conference in San Jose, California.

If you’ve missed an edition, our complete Sneak Peek series for FinovateSpring 2015 is below:

And now let us introduce you to the final fourteen companies of FinovateSpring 2015. See you in San Jose!

FS2015_Finaeos_logoFinaeos automates the back office and capital-raising compliance.

Why it’s great
Serves the demand for new ways to invest, save, and generate income by investors across the globe.

  • Founded: 2015
  • HQ: Victoria, British Columbia, Canada

FS2015_Finicity_logoFinicity helps developers build powerful apps to drive financial software innovation.

Why it’s great
TXPUSH Interface to the Finicity API Platform.

  • Founded: 1999
  • HQ: Salt Lake City, Utah

FS2015_MoneyAmigo_logoMoney Amigo is a social money interaction platform that solves the lack of simple and clustered services for the unbanked and underbanked.

Why it’s great
Money Amigo makes managing money fast, fair, and friendly.

  • Founded: 2015
  • HQ: Las Vegas, Nevada

FS2015_Ondot_logoOndot Systems builds white-label solutions that enable financial institutions to provide security and convenience for their customers.

Why it’s great
Our platform brings innovation to mobile card services.

  • Founded: 2011
  • HQ: San Jose, California

FS2015_Onovative_logoOnovative’s powerfully simple marketing automation software helps financial institutions meet the challenge of cross-selling current customers.

Why it’s great
Onovative provides banks and credit unions with modern APIs and a simple UI to help them grow.

  • Founded: 2013
  • HQ: Jeffersonville, Indiana

FS2015_Outski_logoOutski’s platform improves employee health and wellness, increases productivity, and reduces job-related stress.

Why it’s great
Outski helps companies improve margins and reduce costs by focusing on the health and well-being of their employees.

  • Founded: 2013
  • HQ: Tucson, Arizona

FS2015_PrairieCloudware_logoPrairie Cloudware provides a comprehensive set of omnichannel, digital payment services to solve the need for more security, convenience, and control when purchasing goods and services online and in-store.

Why it’s great
We are a cloud-based, open platform that allows consumers to access and use their preferred payment mechanisms and accounts via the financial institution’s digital channels.

  • Founded: 2012
  • HQ: Omaha, Nebraska

FS2015_Slice_logoSlice’s technology provides item-level purchase-data across the largest base of online consumers (two million and counting).

Why it’s great
Slice’s one-of-a-kind Purchase Graph technology.

  • Founded: 2010
  • HQ: Palo Alto, California

FS2015_SmartAsset_logoSmartAsset provides a tools-and-content platform to give consumers personalized and actionable advice.

Why it’s great
Leverage our Automated Financial Modeling technology to make significant personal finance decisions.

  • Founded: 2011
  • HQ: New York City, New York

FS2015_Token_logo_snagToken is a new payment rail that solves the “faster payments” problem for banks, businesses, and consumers.

Why it’s great
A new open bank API, an unbreakable identity system, developer tools, and a wallet app for business and consumers.

  • Founded: 2015
  • HQ: Los Altos Hills, California

FS2015_TopImageSystems_logoTop Image Systems introduces the eFLOW mortgage, which eliminates the manual, time-consuming and expensive mortgage-origination process.

Why it’s great
Top Image Systems’ IQA (Image Quality Analysis) provides unparalleled accuracy, security, and ease of use.

  • Founded: 1991
  • HQ: Tel Aviv, Israel

FS2015_Vanguard_logoVanguard introduces the Funds Visualizer to rid investors of suboptimal portfolio construction.

Why it’s great
Our interactive, 3-D, data visualizations of diversification provide unique insights when it comes to building portfolios.

  • Founded: 1975
  • HQ: Valley Forge, Pennsylvania

FS2015_Vouch_logo_414updateVouch is the first social network for credit, enabling consumers to connect and share creditworthiness so they get the financial products they deserve.

Why it’s great
Vouch is for anyone who believes they are more than their credit score.

  • Founded: 2013
  • HQ: San Francisco, California

FS2015_Whodini_logo_snagWhodini helps merchants engage customers using social media marketing, reaching loyal customers with targeted offers.

Why it’s great
At Whodini, we help local businesses know their customers better.

  • Founded: 2004
  • HQ: Westport, Connecticut

Finovate Alumni News


  • SigFig Brings on New Advisory Board Members and $1 Million in Funding
  • Alt-Lender EZBOB Deepens Pockets by $46 Million

Around the web

  • InvestorCentral looks at market simulators and trading with Kapitall.
  • Alaska Air picks FIS as its partner for upcoming strategic payment initiatives including EMV.
  • Delicious Nutritious chooses globalVCard Spend Secure for its business payments.
  • Kiplinger highlights Motif Investing among “brokers that pay you to open an account.”
  • GMC Software Technology to provide GMC Inspire to Mail Handling Services.
  • Personal Capital launches app for the Apple Watch.
  • ReadyForZero interviews Michael Carvin, CEO of SmartAsset. Check out SmartAsset’s new technology at FinovateSpring.
  • Revolut and Sedicii win finalist spots in the Innotribe Startup Challenge.
  • American Banker features bitcoin exchange itBit. Watch itBit’s live demo at FinovateSpring.
  • TechCrunch: Infosys to acquire Kallidus for $120 million.
  • A look at “billion dollar” British startups at features TransferWise.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Alumni News– August 13, 2014

  • Finovate-F-Logo.jpgNetbanker features 2012- 2013 fintech graduates from Y Combinator:  TrueLink Financial, Coinbase, and LendUp.
  • Netbanker features 2009- 2012 fintech graduates from Y Combinator: ZenPayroll, SmartAsset, TrustEgg, FutureAdvisor, ReadyForZero, and WePay.
  • American Banker considers how Diebold is leading the way on the branch of the future.
  • peerTransfer surpasses 500 clients, while processing over $1 billion in international payments.
  • Heartland Payment Systems buys out remaining shareholders of tablet software and hardware startup, Leaf.
  • ACI Worldwide announces completion of ReD acquisition.
  • Lending Club mentioned in HBR Blog’s look at how new lending technology can help small businesses.
  • Silanis Technology partners with loan management software specialist Calyx Software. See Silanis at FinovateFall 2014 in September.
  • planwise teams up with Informa Research Services to launch plug-and-play search tool of real estate agents and brokerages.
  • NextAdvisor column in HuffPo highlights LendUp as alternative loan option for the underbanked.
  • Pandai announces joint cooperation with China and Hollard to leverage their experience in the loan insurance market.
  • Xero and Square partner to sync Square transactions and give a business a view of their finances. See Xero present at FinDEVr. 
This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Behind the Scenes with BodeTree, Roostify, and SmartAsset

Behind the Scenes with BodeTree, Roostify, and SmartAsset

This week, we’re featuring BodeTree, Roostify, and SmartAsset whose solutions range from a small business management platform, to a home mortgage application solution, and a mobile financial education product.

Previously in our Behind the Scenes feature, we’ve looked at:

What they do
BodeTree focuses on helping owners of revenue-generating small businesses, who are required to play many roles in their company, to better manage their operations.

BodeTree gives its users a complete view of where their business stands, what their competitors are doing, and offers tools to help them determine where they want their business to be in the future. 
To help users reach their business goals, it works with funding sources to provide financing to serve as working capital. Because BodeTree has visibility into the small business’ operational data, it can work with the funding source to help underwrite and furnish the loan in as few as seven days.  
    • Minimizes loan acquisition time from 120 days to 7 days
    • Raised $4.5 million
    • 13 funding partners
    • 50,000 small business users
The experience
BodeTree gives small business owners an all-in-one business management tool by serving up accounting, sales, and CRM tools on a single, intuitive interface. It helps them understand their budget and business data by showing the information graphically, and provides tools for planning. 
Additionally, BodeTree gives users a an automated view of their business’ valuation and even shows how they are doing in comparison to their business’ peers.
Simply said, the platform shows them: 
    • Where their business has been
    • Where it is currently
    • Helps them determine where they want to go 
Within 30 minutes, the small business can apply for funding, which they can receive in as few as seven days, as opposed to the traditional 120 days it takes to get a loan.
If the user is pursuing a loan, BodeTree gives its funding partners visibility to the individual business’ performance metrics to help them underwrite the loan.
In addition to helping its users understand the daily operations of their business and providing funding options, BodeTree also enables business owners to view:
    • Valuation of their small business
    • A quick view of their business’ health
    • A peer comparison to other small businesses
    • Financial statements with easy-to-understand graphs
The platform’s report-building tool gives them an easy way to customize and build professional looking reports, like the one below, to serve as a tangible item they can share about their business.
Overall, BodeTree serves as a home base for small businesses to see how their business is doing, determine where they want to go, and access quick funding to help them get there.



What they do
By bringing transparency to the home buying process, Roostify seeks to demystify the home loan and closing experience by making it easier and faster for both the borrower and the lender. Its platform facilitates communication between lenders and borrowers, enabling them to share and track information necessary for the mortgage and closing process.
This visibility, combined with the platform’s ability to gather key documents, helps speed the entire home-buying process.
    • Can process a full mortgage application in 10 minutes
    • Can process a full loan package (mortgage application plus documentation) in 20 minutes
The experience
For the homebuyer, Roostify works a bit like TurboTax for a mortgage application. It customizes fields on the application based on the user’s answers to previous questions.
Once the loan application is submitted, the borrower’s dashboard walks the prospective homebuyer through the remaining process. Three notable items include:
1) The explanation on the right panel of the screen, which provides transparency into why certain items are needed and how they will be used in the process
2) The calendar view, which shows both the borrower and the lender due dates of action items
3) The documents page, which helps borrowers and lenders submit and manage the necessary documents for the mortgage process

All documents are held on the Roostify platform in a secure repository, which eliminates the need for the lender to download the documents. Additionally, its esignature capabilities eliminate the need for printing and faxing documents.

To assist with the underwriting process, borrowers can connect their external accounts directly within the Roositfy platform. The borrower can give lenders access to bank accounts, retirement accounts, and savings accounts without ever leaving Roostify.
Roostify also benefits the lender by giving them complete visibility into the process. The screen below shows a feed of completed tasks (on the right) and outstanding tasks (in the center) for both the borrower and lender. 

Even after the home loan application process is complete, the system details the home closing workflow, notifying the two parties what items need to be completed by what time frame. 

Lenders can white label Roostify to create a branded solution that gives their borrowers an end-to-end service that consumers have come to expect.

What they do
SmartAsset’s website serves as a resource for personalized and automated advice about personal finances. At FinovateSpring 2014, SmartAsset launched its native mobile app on iOS and Android.
Its platform combines user information with its automated financial modeling technology to answer questions across a range of subjects. Its goal is to help people make better financial decisions. 
To serve as a guide, SmartAsset’s referral service matches users with targeted financial products to help them maximize their net wealth.
    • Has grown at 40% per month for the last 15 months
    • Expects roughly half a million people to visit this month
    • Has 130 different data partnerships, including Moody’s
The experience
SmartAsset’s greatest penetration is with users between the ages of 25 to 40 who are planning to make one or more big financial decision this year, such as get married, have a baby, or buy a house.
The screenshot below illustrates the user experience of determining whether to rent or buy a home. Note the targeted ad from Quicken Loans at the bottom, offering a 30-year FHA mortgage.
If the user wants to purchase a home, they can use SmartAsset’s in-app tools to determine how much house they can afford. The sliders make it easy to change the estimation of the down payment and mortgage. When adjusted, all other calculations are immediately updated to reflect the change.
It also helps in planning for retirement. The screenshot below illustrates the recommended amount of retirement savings the user needs to put away per month in order to retire at their desired age of 67.
Aside from real estate and retirement calculations, and SmartAsset also uses its algorithms to assist with:
    • life insurance questions
    • credit cards
    • bank accounts
    • student loans

Stay tuned later this week for our final Behind the Scenes look at fintech from FinovateSpring 2014.

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With SmartAsset’s New Mobile App, Users Have Personal Finance Guidance at Their Fingertips

This post is part of our live coverage of FinovateSpring 2014.


Second on stage this afternoon, SmartAsset stepped up to demo its new mobile app that empowers users with personal finance knowledge:
“SmartAsset is launching its mobile application at FinovateSpring 2014. For Apple and Android, SmartAsset mobile users will have all of the functionality afforded by our web application at their fingertips.”
Presenting: Michael Carvin (CEO) and Noel Curtis (Senior Software Engineer)
Product Launch: FinovateSpring 2014
Product distribution strategy: Direct to Consumer (B2C), Business to Business to Consumer (B2B2C), through financial institutions, through other fintech companies and platforms
HQ: New York, NY
Founded: July 2011
Twitter: @smartasset