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NextCapital raises $16m from VC Rt66 and investment managers Alliance Bernstein and John Hancock.
Two things make NextCapital extremely differentiated:
- B2B2C which is very hard, but massively reduces customer acquisition costs and creates durable differentiation.
- Assets-in-Motion...targeting retirement assets is, in our opinion, a perfect place to start applying the principles, tech, and cost advantage of Robos.
We've been working with Rob for more than three years. Awesome progress. Expect big things from this team.
From RIABiz editor, Brooke Southall: This article challenged even our holistically minded staff because it encompasses a knowledge of robos, 401(k)s, asset management and financial advice. Of course, service offerings with so many moving parts are suspect in the sense that so much can go wrong. But they are also intriguing. Helping worlds to constructively collide is an art when done effectively. What we know is that — to steal a coinage from Josh Brown — Rob Foregger is a 'reformed’ B2C guy who parachuted out of Personal Capital with a determination to do things differently this time by kissing a few rings. That he’s raising substantial venture capital at a time when others are plotting graceful exits speaks to the fact that his plan offers something different — especially from Financial Engines.
