A US-based provider of wealth management technology is gearing for growth thanks to NewSpring Capital’s buy and build strategy.

Wealthcare Capital Management has secured additional funding from its parent company, NewSpring, and updated its wealth management software.

The company’s Financeware technology, which is used by more than 30,000 advisors nationwide, will now include a new user experience, comprising an enhanced navigation, a new client portal with an interactive ‘Comfort Zone’, more investment choices. Its investment policy process, meanwhile, will address the latest Department of Labor fiduciary standards while seeking to boost advisor practice efficiency.

Since Wealthcare was acquired by NewSpring in 2014, the company has more than doubled its assets under management to almost $1.7 billion.

“Wealthcare has been able to successfully capitalize on NewSpring’s funding in order to continue to serve our customers and solidify our place as the goals-driven investing leader,” said Wealthcare president, Ron Madey. 

“With tectonic movements in the industry like DOL standards, aging baby boomers and the growing pervasiveness of technology, Wealthcare has a unique offering that leads to a more successful relationship between advisors and their clients,” added Skip Maner, managing partner of NewSpring.