RADNOR, Pa., June 7, 2018 /PRNewswire/ — NewSpring Holdings LLC, the dedicated holding company of NewSpring, announced today that it has established a fintech platform company called Financeware, harnessing its industry-leading expertise and broad resources in wealth management. Staffed by seasoned veterans with deep operational and technology expertise, the entity is focused on driving strategic growth and expansion of innovative companies across the new wealth scape.
“The key to smart sustainable growth in fintech is a strong and clear vision of the market,” said Rafferty. “As a dedicated platform, we can more effectively lead our companies with greater insight into the players, partners and trends of the entire wealth-tech space. This speeds decision-making, streamlines strategy, and drives faster growth opportunities.”
Bob Ward will serve as Financeware’s Chief Revenue Officer. With more than 20 years in senior roles, Ward is also the current Chief Revenue Officer of VMS. He previously served as COO of SunGard Transaction Network (STN), now known as SunGard Global Network (SGN), where he played a significant role in SGN’s growth from a start-up to one of the largest global financial services networks in the world.
“”The trends we are seeing now – around transparency, fiduciary responsibility, increased regulations, revenue leakage – combined with the realities wealth service providers are facing, such as legacy core technology, increasing data demand and cost, and client fee pressures are all important factors of why we created Financeware,” said Ward. “There is a need for a solution set targeted exclusively for the wealth management industry that helps advisors and firms manage these issues.”
Financeware is committed to actively identifying and partnering with innovative companies playing leading roles in pivotal areas across the entire wealth space. Focus areas include: wealth management, financial advisory and data management.
NewSpring Holding’s Financeware portfolio companies include Wealthcare Capital Management, pioneer of goals-based wealth management technology and creator of the GDX360® platform that integrates planning and investing; and VMS, the wealth industry’s only financial operations intelligence engine delivering smart data and information flows in a single, streamlined format.
“We’re differentiating ourselves by showing companies new ways to create value at the most exciting inflection points in fintech today,” said Jim Ashton, General Partner at NewSpring Holdings and former CEO of SunGard’s Financial Systems division. “It’s clear that the industry’s next set of winners will be those that see beyond the technology and connect to the new wealth experience.”