Jemstep

wealthtech-retailrobo advisors

STATUS: Acquired/Merged
FOUNDING YEAR: 2008
LOCATION: United States
Last Update: 17/07/2020

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About

Jemstep is transforming the way banks deliver wealth management, with a modern digital investing experience for advisors and clients. Our Advisor Pro digital advice platform is integrated within a firms systems, for an end-to-end solution and a goal-based approach to wealth management. Banks and other financial services firms hire us because of our innovation, our flexibility, and our consultative approach. Our corporate culture is steeped in creativity and collaboration were always looking for bright, high-energy, positive-thinking, and team-oriented people to join our high-growth firm. Jemstep is based in Silicon Valley, with offices in Atlanta, South Africa, and India. We are a wholly owned subsidiary of Invesco, a global asset management firm with a long history of success. For important disclosures, visit invesco.com/socialmedia.

MEDICI Analysis

Jemstep, acquired by Invesco in Jan 2016, is an online investment advisor that helps people invest for retirement by making recommendations across all their accounts, including 401(k) and other employer-sponsored plans. The company advisor platform, Jemstep Advisor Pro, helps investment advisors scale their businesses through harnessing the practices of robo-technology for client engagement, onboarding, and servicing.

Focus

PRODUCTS & SERVICES

Jemstep Advisor Pro, Free portfolio analysis. Jemstep is transforming the way advisors run their businesses through an automated client engagement, onboarding and service platform.

REVENUE MODEL

It follows subscription fee based on the level of assets they link to the service.

EXISTING PARTNERSHIPS

Orion Advisor Services,TD Ameritrade Institutional Veo,DocuSign,CRM integration

COMMENT

Jemstep Advisor Pro integrates with firms such as Orion, Salesforce, DocuSign and others to help advisors utilize best-of-breed software providers for execution and back-end processes.

Traction

VALUATION / MARKET CAP:

$70 M in 2015

TRANSACTIONS VALUE:

$1.5 B

TRANSACTIONS COMMENT:

(Assests)

ACTIVE USERS:

0.1000

People

FOUNDERS

Michael Blumenthal

Kevin Cimring

Matthew Rennie

BOARD MEMBERS AND ADVISORS

Dr. Jonathan Tiemann (Founder & President

Tiemann Investment Advisors

LLC) L

Professor Terrance Odean (Rudd Family Foundation Professor of Finance

Haas School of Business

University of California

Berkeley) B

Daniel Lionel Saksenberg (Actuary)

Dennis Troper (Product Management Executive

Google) G

NUMBER OF EMPLOYEES

51-200

INVESTORS:

Caleo Capital

Momentum

FUNDED

YES

TOTAL FUNDING

$9 M

DATE OF LAST FUNDING

Oct 2013

SEED & PRIOR FUNDING

$4.5 M

FUNDING SERIES

SERIES A  · $4.5 M  · Oct 2013

LISTED

NO

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