• NextCapital

  Participated · Series B · Dec 2015

  NextCapital offers a full‑stack enterprise digital advice platform that enables partners to deliver scalable financial planning, personalized advice, and managed accounts. Its multi-channel solution supports defined contribution, IRA rollover, and retail accounts and includes configurable investment methodologies, custom user experiences, advisor-assisted and self-service models, and integrations with 401(k) recordkeepers and retail custodians. The company positions itself to build customized managed advice solutions for large asset managers, recordkeepers, and advisory firms. NextCapital said it will use recent funding to invest in its Partner Success program, extend its workplace and rollover managed advice platform, and expand its retirement income offering. The company announced the financing from Chicago and noted its mission is to help everyone retire successfully. The raise brings the company’s total funding to $85 million. NextCapital provides institutions with an integrated, configurable platform to deliver automated personal financial advice. Its platform offers holistic portfolio tracking, planning, savings advice, and portfolio management across multiple channels including 401(k), IRA, and taxable brokerage accounts. The company powers digital advice strategies for brands such as John Hancock, Russell Investments, State Street Global Advisors, and Transamerica. Led by CEO John Patterson, NextCapital intends to use new funding to bring additional digital advice capabilities to market and open new strategic business channels. The company completed a $30M Series C financing. NextCapital is based in Chicago, Illinois. NextCapital is a Chicago, IL-based enterprise digital advice company led by CEO John Patterson. It provides partners with an integrated platform for delivering automated personal financial advice, including holistic portfolio tracking, planning, savings advice, and portfolio management. The platform supports multiple channels including 401(k), IRA and taxable brokerage accounts. NextCapital completed a $16M Series B financing. The company intends to use the funds to accelerate partners’ entrance into the digital advice marketplace, both inside the 401(k) plan and out. Investors in the round included AllianceBernstein, Manulife, Route 66 Ventures and several existing strategic shareholders. NextCapital (formerly Business Logic) is a Chicago-based digital adviser and technology provider that powers delivery of the Russell Adaptive Investing™ methodology to individual participants in defined contribution (DC) plans. Its secure technology platform is used to create and manage Russell Adaptive Retirement Accounts, generating personalized asset allocations for participants by drawing on recordkeeper and HR data. The company’s platform monitors and adjusts allocations quarterly without participant intervention. The recent strategic funding is intended to support product enhancements, including account aggregation (tethering all investment accounts), embedded auto-escalation features, and decumulation strategies. NextCapital’s technology is integrated with Russell’s Russell Adaptive Retirement Accounts offering, which Russell launched in 2013 and developed in partnership with NextCapital. No revenue or user metrics were disclosed in the article.

No current team members are available.