Betting big on personalized financial planning, financial services company Northwestern Mutual will acquire startup LearnVest for what sources say is more than $250 million in cash. Founded by Alexa von Tobel, a Harvard Business School dropout (and 2014 Fortune 40 Under 40 pick), LearnVest launched in 2009 to help women become more financially savvy. The company eventually broadened its service to include men and women. LearnVest’s basic resources are free. Its customers can pay extra—$299—to engage a financial planner who will give them advice about spending, budgets, investing, and more. With about 1.5 million users, and tens of thousands of paid subscribers, LearnVest carved a niche in the financial planning business by attracting young professionals who sought a more modern way to manage and budget their money.

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