Local wealth management software start-up Wealth Access has raised almost $1.5 million from an investor group led by two local heavyhitters and is aiming to add another $1 million to its bank account.
Three-year-old Wealth Access sold the first shares of its new investment round on Jan. 24. Leading the funding are Lucius Burch IV of Massey Burch Capital, far right, and Joe Maxwell of Investment Scorecard. They will soon join the board of Wealth Access, which aggregates account data for high-net-worth investors, financial advisors and family offices. In all, 19 investors have contributed to Wealth Access' raise.
"Mr. Burch and Mr. Maxwell lend tremendous credibility and knowledge to our company, and their arrival is a strong endorsement for the Wealth Access value proposition," said founder and CEO David Benskin. "We believe the time is right for transparency through technology to transform the investor/advisor relationship. Our momentum suggests a pretty significant opportunity."
Since formally launching in the summer of 2012, Wealth Access has steadily beefed up its management team. The company's leaders traveled to California this week to market a newly launched updated version of their software at the Technology Tools for Today conference.