Scott MacKillop got his flat-fee startup to $1.4 billion in eight years, negotiated its sale over nine months and largely got friends and family investors cashed out
The First Ascent sale means the Denver-based founder's second ascent as head of a GeoWealth holding won't be beset with worry about cash burn, not least because free GeoWealth software puts it into the black -- and makes it more of a TAMP than an investment manager
Skip Schweiss
Related Moves
Betterment whistleblowers net $2.5 million • Wealthfront's big pivot leads to profits • Altruist launches tax service • CMOs in at Ascensus, Wealthspire & Joe Duran's Rise • Savvy bags four advisors as Mariner sues it for poaching • Jim Dickson launches RIA stake buyer
Betterment is also bending to RIA needs • Wealthfront is in the black, thanks to cash • Altruist reveals where it makes its money • Rise, Wealthspire and Ascensus each add two executives • Compound hits $2 billion of AUM • CAIS slashes alts prices • BlackRock ups private debt sales to RIAs, through GeoWealth.
