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Credit Sesame Raises $16 Million

From TechCrunch:

Personal finance company Credit Sesame is announcing today that it has raised an additional $16 million in an oversubscribed Series D round of funding, with plans to raise more – as much as $20 million – in the near future. The company, a prior TechCrunch Disrupt Battlefield participant, was one of the first to market with solutions that allow consumers to monitor their credit and score, protect themselves against identity theft, and reduce their debt through credit and loan management services.

The new round was led by Syncora Alternative Investments, with IA Capital Partners as its advisor, and also included participation from investors Menlo Ventures, IA Capital, Globespan Capital, Inventus Capital, and other high-profile angels. This brings Credit Sesame’s total raise to date to over $35 million.

While many in the personal finance space have focused on helping people manage their money and investments, Credit Sesame has instead targeted the liability side of the balance sheet, explains CEO Adrian Nazari. That has put it in competition with others offering consumer debt management or credit monitoring, like Credit Karma or ReadyForZero, for example.

Read the full press release on TechCrunch here




FolioMetrix and American Independence Announce Merger

May 12, 2015 , via American Independence: 

FolioMetrix LLC will merge with American Independence Financial Services, LLC (AIF) to create a new company, RiskX Investments, LLC, offering an array of risk-intelligent investment solutions. The transaction is expected to close in September 2015. Deal terms were not disclosed.

RiskX Investments will manage, post-merger, approximately $1.1 billion in funds and separately managed accounts, comprised of the American Independence Funds (single-manager sub-advised funds and separately managed accounts) and the FolioMetrix Rx Fund Series (multi-strategy tactical mutual funds).

American Independence Funds offer exposure to select sub-advisors of equity, fixed income, international, and risked-managed portfolios. The AIF management team averages over 25 years of experience building and distributing investment solutions to the financial industry. 

"The decision to merge with FolioMetrix was an easy one to make. Its team shares our dedication to continuously seeking new ways to deliver better investment outcomes during any market conditions," said John J. Pileggi, Managing Partner of American Independence, who will become CEO of RiskX Investments. "We are eager to join forces and deliver a wide array of risk-intelligent products to the marketplace as partners in RiskX Investments."

Read the full press release on American Independence's website



United Capital Acquires $500M Firm


"United Capital announced its biggest acquisition of the year Monday, a $500 million asset firm that was previously affiliated with Ameriprise Financial.

United Capital's latest acquisition, Ellis & Ellis, serves 700 households and is based in The Woodlands, Texas. Byron Ellis, managing director, said the team conducted an extensive search before deciding to join forces with United Capital."

Read the full article here.



United Capital acquires $320 million AUM adviser

California-based Valley Wealth is firm's third – and largest – acquisition this year
After embarking on a more aggressive, national growth strategy in August, United Capital has acquired a registered investment adviser with $320 million in client assets.
The firm said Thursday it picked up Valley Wealth Inc., a Modesto, Calif.-based RIA founded in 2008, which is United Capital's third and largest acquisition so far this year. Valley Wealth brings United Capital to roughly $10.6 billion in assets under management.

To read the rest of the article by Mason Braswell on, click here.