Business Wire
Conquest Planning Inc., a technology platform modernizing financial planning with customized and convenient advice, today announced it has raised $80 million USD ($110 million CAD) in Series B funding led by Growth Equity at Goldman Sachs Alternatives. The round attracted additional new investors, including Canapi Ventures, a venture capital firm investing in early to growth-stage software and fintech companies, as well as BDC Capital, Citi Ventures, TIAA Ventures and USAA. Existing investors BNY and Portage also participated in the round, which brings Conquest’s total funding to over $100 million USD.
Conquest was established in 2018 with the foundational belief that financial planning should be accessible, yet bespoke, for retail investors and ultra-high-net-worth families alike. Its artificial intelligence (AI)-powered software enables financial advisors, banks, brokerages, wirehouses, insurance firms and pension providers to offer personalized advice at scale.
Conquest will leverage this fresh capital to accelerate its U.S. expansion, while also funding the continued evolution of its AI-based Strategic Advice Manager (SAM). SAM’s revolutionary AI planning engine performs thousands of complex calculations around every piece of information in an individual’s financial plan, which allows advisors and their clients to quickly and accurately understand the impact of different scenarios on clients’ goals and recommend the next best financial decision. Conquest will continue to invest in its technology to support more robust plan analysis, enable more efficient onboarding and plan creation and create tools and modules that lead to dynamic content creation.
“In periods of macro volatility, the need for a modern, comprehensive and flexible financial planning platform becomes even more pronounced,” said Jade Mandel, Managing Director at Growth Equity at Goldman Sachs Alternatives, who will join the company’s board. “We’re thrilled to partner with Conquest on their Series B as they further expand into the US and continue to empower financial institutions to provide best-in-class financial planning at scale.”
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Built to empower all people—whether they are in the borrowing, accumulation, or decumulation phase of life—Conquest’s technology enables advisors to deliver flexible, dynamic financial plans that adapt to life’s changes and accounts for extended lifespans. With this funding, Conquest will further advance its efforts to democratize advice by accelerating and expanding planning capabilities for individuals and families who may not be ready for a financial advisor relationship, but are seeking guidance on financial decisions such as debt management, investment account selection and a first home purchase. Conquest’s new offering, dubbed SAM Bytes, enables advisors to remain engaged with self-directed investors during these planning moments to foster a sustained relationship built on trust.
“The era of inefficient and inaccurate trial-and-error-based financial planning is over,” said Dr. Mark Evans, CEO of Conquest Planning. “As investors are demanding greater personalization in all aspects of their financial lives, we’ve unlocked the power of automation and real-time intelligence to bring the advice industry into the modern age. Conquest makes it possible for investors at any stage of life to get the financial advice they deserve. We’re grateful to our partners for embracing our commitment to making high-quality advice more accessible to a broader range of families.”
Conquest has also deepened its capabilities for advisors serving generationally wealthy families by investing in its estate and legacy planning features. These modern solutions offer stronger support for both pre-mortem and post-mortem advice, helping advisors to identify planning gaps and opportunities while providing proactive recommendations aligned with each family’s legacy priorities and overall financial plan.
“Wealth management is a core growth driver for our 70+ bank LPs, where financial planning serves as a foundational pillar of the client relationship,” said Neil Underwood, General Partner at Canapi Ventures. “Conquest’s experienced team has built a modern, configurable, and AI-powered platform that enables institutions and their advisors to deliver intelligent, personalized guidance across the full wealth spectrum. We’re proud to partner with Conquest as they bring planning-led advice to the forefront of the financial services industry.”
Now counting more than 60 percent of the Canadian financial advisor market as users, Conquest is rapidly gaining adoption in the U.S. and U.K. due to burgeoning market demand for advice across the wealth continuum. Currently serving more than 1,000 financial services organizations, including RBC, Manulife, BNY Pershing and Raymond James, Conquest continues to gain market share as it approaches 1.5 million plans created on its platform.
“We’re excited to continue working with Conquest given that we have the same goal – to help advisors improve their efficiency and effectiveness in financial planning,” said Ainslie Simmonds, Executive Platform Owner, Wealth Service Platform for BNY. “Through the power of AI, Conquest allows advisors to spend less time with the data and more time interacting with their clients and we’re thrilled to continue to offer this capability to BNY’s clients through the Wove platform.”
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