Financial Finesse launches first-of-its-kind venture arm supporting FinTech for the greater good

As the pioneer in financial wellness, Financial Finesse bridges the financial literacy gap by delivering objective, life-changing financial coaching to millions of Americans. The launch of Financial Finesse Ventures – a natural extension of the company’s people-first mission – will support a new era of FinTech that is 100 percent aligned with the best interests of consumers. The new venture arm, company-backed and led by Liz DavidsonFinancial Finesse founder and CEO, will seek investments in purpose-driven companies dedicated to creating positive social impact.

“While there is increased discussion of social responsibility and some encouraging macro trends in the ESG space, FinTech lags significantly in these areas,” said Liz Davidson, CEO of Financial Finesse and Financial Finesse Ventures. “We are at a critical crossroads – what we do now as investors, employers and consumers has the potential to change the trajectory of the industry. With Americans facing significant economic challenges, much hangs in the balance. FinTech has the potential to be a powerful solution; we want to do our part to ensure that it is.”

The explosion in FinTech in recent years has led to an escalation of services that put profit over purpose – with a recent rise in companies selling high-interest loans, encouraging irresponsible investments or hooking investors up with overpriced financial products and services in exchange for high commissions. This trend applies not only to consumers who may fall victim to this predatory practice, but also to business leaders who worry about problematic service offerings embedded in employee-facing platforms. Financial Finesse Ventures was launched to change the trajectory of the industry, support companies that both consumers and employers can trust, and inspire other firms to start investing in innovation for good.

“We have seen an increase in predatory FinTech firms selling their services to employers as an employee benefit,” said Greg Ward, CFP® and Director of the Financial Finesse Financial Wellness Think Tank™. “I am pleased to be part of the evaluation process for Financial Finesse Ventures’ investments, using standards our Financial Wellness Think Tank has developed to verify pro-consumer business models and quantify their potential social impact.”

Through an intensive and selective process, Financial Finesse Ventures has identified a number of early-stage companies with pro-consumer models and will announce its first investment in Q4 2022. Beyond funding, Financial Finesse Ventures will help incubate its portfolio companies by leveraging Financial Finesse’s relationships and expertise to accelerate the path to success.

“Financial Finesse Ventures is an extended addition to the venture capital and FinTech industry,” said Elaine Hagan, Associate Dean of Entrepreneurial Initiatives at the UCLA Anderson School of Management, who works with entrepreneurs to accelerate the growth of their businesses and shares Davidson’s views on social impact. “It’s refreshing to see a company committed to financial wellness at its core, making targeted investments at a time when the market for funding is tightening. With this launch, Financial Finesse is taking a key leadership role as an arbiter of socially responsible FinTech.”

About financial finesse

Financial Finesse is the nation’s leading independent provider of objective financial wellness training programs in the workplace. Since 1999, the firm has helped tens of thousands of organizations improve their bottom lines and become more competitive by empowering their employees to achieve financial security. The company’s award-winning financial wellness programs are made available to employees at no cost as an employer-sponsored benefit. With highly personal and ongoing one-to-one coaching from CFP® professionals, AI-powered virtual coaching, live workshops, webcasts, educational tools and content, Financial Finesse reaches over 2.4 million individuals each year. www.financialfinesse.com

Consult: Maggie WeinbergFinancial finesse
Email: [email protected]

SOURCE Financial finesse