Medic-focused firm gets $200M growth equity shot in the arm, makes acquisition
A $200 million injection of growth equity is already driving acquisitions for a tech-enabled financial services firm that focuses exclusively on the needs of medical professionals.
New York headquartered Earned Wealth has partnered with Summit Partners and Silversmith Capital Partners, who along with additional participation from existing investors, have provided the financial stepping stone for Earned to drive its ambitious growth plans.
“Doctors face distinct — and often complex — financial circumstances and opportunities throughout their careers, from residency through retirement. The Earned platform is purpose-built to provide holistic solutions to help optimize for the needs of healthcare professionals,” said Darren Black, a managing director at Summit Partners who has joined Earned’s Board of Directors.
The investment has already sparked the acquisition of Thomas Doll, an industry leader that offers full-circle financial care for physicians and dentists, including wealth management, retirement planning, tax planning and consulting services. Thomas Doll has established a brand over sixty years and will continue to operate under its current name tagged with ‘An Earned Wealth Company’.
The acquisition means Earned now serves 3,000 clients with over $2 billion in assets under management. Thomas Doll will benefit from Earned’s wealth technology platform while Earned will gain valuable experience and capabilities in a broader financial services offering.
“From the beginning, we’ve been firmly focused on building the premier go-to destination for doctors who are seeking to optimize their financial well-being, delivering tailored solutions and services that allow them to focus on what they do best,” said John Clendening,
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