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Farther, a New York-based registered investment advisor with a proprietary wealth platform, announced a Series D, $150 million fundraising round led by private equity firm General Atlantic. The company posted on LinkedIn Wednesday that as of this most recent round it had grown to more than $23 billion in recruited assets since its founding in 2019. The RIA, which was co-founded by CEO Taylor Matthews, has been supported by a series of investors, including its most recent $72 million Series C round this October, led by CapitalG, which valued the firm at $542 million after the capital infusion.
This latest round also included funding from CapitalG, Bessemer Venture Partners, Cota Capital, MassMutual Ventures and others, according to the post. “Our partnership with General Atlantic will help us continue scaling our Intelligent Wealth Platform, so more advisors can grow their business and deliver greater value to clients,” Matthews wrote. Farther has been steadily recruiting advisors across channels, including independent broker/dealer breakaways and standalone RIAs, into its homegrown technology stack that the firm touts as providing an “integrated ecosystem” driven by artificial intelligence. “The wealth management sector is undergoing a structural shift as advisors increasingly seek modern, integrated platforms to better serve clients and grow their businesses,” Paul Stamas, managing director and global head of financial services at General Atlantic, said in a statement. In April, Farther announced it had launched a multi-family office for ultra-high-net-worth families to be led by Ben Seidenstein, whom it had hired from Goldman Sachs’ private wealth division.