About the Company

Wealthtender was created to address the challenges people face when seeking financial advice without substantial wealth. Most financial advisory platforms cater to individuals with large investments, but Wealthtender offers an inclusive solution. It serves over 40,000 visitors monthly, offering resources to those who prefer to manage their finances independently. Financial professionals pay a subscription fee to be featured in Wealthtender directories and receive digital marketing benefits.

The company’s business model involves offering different subscription tiers to financial advisors and coaches. This allows them to be highlighted on the platform, which in turn drives revenue for Wealthtender. The platform’s inclusive approach ensures that anyone, regardless of their financial situation, can access the advice and resources they need.

Idea Behind Company

Brian Thorp was inspired to create Wealthtender after spending 22 years at Invesco, a global asset management company. He noticed that most platforms catered to wealthy clients, leaving many people underserved. He envisioned a service that would be more inclusive and help people with varying financial backgrounds.

The idea was also influenced by anticipated changes in SEC regulations, which eventually allowed financial advisors to ask for and promote online reviews. Thorp saw an opportunity to create the first SEC-compliant online review platform for financial advisors. This innovation was aimed at helping consumers make more informed decisions by providing access to credible reviews and testimonials.

Creating the Company

The development of Wealthtender began in 2018 while Thorp was still employed at Invesco. Knowing that his last day of work was approaching, he used the time to start planning and building the business. He collaborated with a friend who was a web developer, and they decided to use WordPress for its flexibility and scalability.

The initial focus was on building content, with freelance writers contributing personal finance articles. The website also started to include directories of financial blogs and podcasts, which were promoted through social media and email. As the platform grew, Thorp and his team began wireframing a directory to showcase financial professionals and resources.

In late 2019, the Wealthtender platform was launched, featuring a directory of personal finance blogs. The success of this initial launch led to further expansions, including directories for financial podcasts and a subscription service for financial advisors and coaches.

Launching the Business

Wealthtender’s initial launch focused on providing free access to personal finance articles and directories, which helped generate traffic and credibility. Although the platform didn’t generate revenue initially, it attracted financial professionals who later became paying subscribers.

The first clients were acquired through partnerships with organizations like the Association for Financial Counseling and Planning Education (AFCPE) and FinCon. Thorp financed the business using his savings, which allowed him to bootstrap the company without external funding.

The launch also included some challenges, such as an unsuccessful experiment with offshore website development. Despite these hurdles, the business continued to grow, with a focus on exceeding client expectations and improving the platform to support scalability.

Earnings

Wealthtender generates $30,000 per month, with over 200 paying clients, primarily financial advisors. The company’s success is driven by word-of-mouth referrals and the development of an SEC-compliant online review platform. This platform has been a significant growth driver, attracting early adopters interested in leveraging testimonials for their marketing strategies.

The company is recognized as a leading digital marketing tool for financial advisors, with a high user rating in industry surveys. Despite not yet being profitable, Wealthtender’s growing client base and authority in the financial advisory space position it well for future growth. The platform continues to focus on delivering value to its clients and exploring potential partnerships to expand its reach.