Wealthcare, founded in 1999, currently provides goals-based advice on over $700 billion in assets under administration through its enterprise model and another $1.5 billion in AuM via its 30,000-strong independent advisor network.

The firm’s philosophy is centered on combining exclusive technology with personalized financial advice, as the number of affluent self-directed investors in the US shrinks and the volume of advisor-reliant investors grows, according to data from Cerulli.

“Wealthy clients today are seeking advisor relationships that go well beyond numbers, to help them consider their unique goals in life and clearly envision their financial futures,” said Wealthcare's West Chester-based chairman, Len Reinhart.

“NewSpring is excited to be involved in Wealthcare’s expansion,” added Jim Ashton, former division CEO of SunGard Financial Systems, general partner of private equity investor NewSpring Holdings and Wealthcare board member.

“The company’s accelerating growth is directly aligned with the wealth management industry’s increasing demand for goals-based advising and access to next-generation investment technology,” Ashton said.

Wealthcare's proprietary financial planning platform, Financeware, features six steps aimed at deepening advisor-client conversations to focus on life goals, while providing ongoing financial advice.