The firm, which is backed by a group of investors including heavy hitters from Silicon Valley, says it is creating a family office platform to give clients access to the kind of offerings that so far are the preserve of the ultra-wealthy.

Arta Finance, a new US wealth management firm, has built a digital family office platform for all qualified investors in the US.

Since Arta came out of its “stealth” phase of development, it has raised more than $90 million and started to take members on board through an invite-only program earlier in 2023, the organization said in a statement today. 

So far, members have trusted Arta to manage more than $100 million on their behalf.

“We knew that many professionals felt this opportunity gap when it came to making their money work for them, including the founding team,” Caesar Sengupta, co-founder and CEO of Arta Finance, said. “Since Arta started accepting members, it's become even more clear that a digital family office is filling an unmet need as professionals busy with their careers and families look for ways to expand beyond basic ETFs, robo-advisors, and 401k plans.”

The firm cited figures from the US Federal Reserve showing that the assets of America’s wealthiest 1 per cent have surged from the second quarter of 2020 to 2023, beating wealth growth in the remaining population by about 30 per cent. There is a need to bridge the gap that this inequality highlights, Arta said in its statement.

“Arta's members are embracing the use of AI in their personal digital family offices, and with our most recent features and services, Arta is ready to help even more people gain access to the same powerful resources as the ultra-wealthy,” Sengupta said.

Over the past year, Arta’s member base has grown from employees at firms like Apple, Google, Microsoft and Stripe.

The organization is launching the following elements: Private market access; customized public market investments with AI; principal protected growth; protected wealth, via insurance; tax and estate planning services; tax loss harvesting; personal assistance services; and connection services. 

In other developments, Arta has appointed Tomas Arlia as head of private markets. Before this, Arlia oversaw a $3 billion global hedge fund and $1 billion portfolio in private equity fund investments as the chief investment officer at GE Asset Management. 

In addition to Arlia, David Oh was hired as the head of tax and estate planning to support members with wealth transfer and tax solutions for preserving generational family wealth. Before joining Arta, Oh was the managing director and trust counsel at Fiduciary Trust International and director of tax and estate planning at Charles Schwab. Arlia and Oh join Arta’s head of insurance, Samita Malik, who joined Arta after spending two decades building insurance products at Aegon Insurance, MetLife, Aviva, and Bain.

Sequoia Capital India, Ribbit Capital, Coatue, and more than 140 figures in tech and finance back Arta.