Earned Wealth, a tech-enabled financial services firm focused exclusively on the needs of medical professionals, announced a $200 million capital commitment led by growth equity investors Summit Partners and Silversmith Capital Partners with participation from existing investors Juxtapose, Hudson Structured Capital Management, and Breyer Capital.
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The capital will support expansion of the Earned Wealth’s platform and offerings through product innovation and strategic acquisitions. In conjunction with the investment, Earned announced the acquisition of Thomas Doll, a leading provider of financial services to medical professionals and practices. Today, Earned serves more than 3,000 clients, with over $2 billion in assets under management.
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Earned Wealth’s mission is to redefine financial services for healthcare professionals through creating the first tech-enabled, integrated personal financial management platform offering wealth, tax, career advisory, insurance, and other services designed for the complex needs of doctors. Using a medical professional’s career journey as a lens, Earned combines deep prognostic technology with a comprehensive set of financial services provided by fiduciary advisors who deeply understand the unique challenges doctors face. With an exclusive focus on medical professionals, Earned advisors are well equipped to guide decisions ranging from medical school loan repayment schedules and private practice buy-ins to medical group malpractice insurance coverage and optimal tax strategies during a practice sale. Earned’s evidence-based approach can proactively and continuously help optimize financial decision-making across nearly every aspect of their clients’ financial lives.
“From the beginning, we’ve been firmly focused on building the premier go-to destination for doctors who are seeking to optimize their financial well-being, delivering tailored solutions and services that allow them to focus on what they do best,” said John Clendening, Founder and CEO of Earned. “Today’s announcement represents a critical step on our journey to further transform financial outcomes for these heroes of our society. With the addition of Thomas Doll, we broaden our capabilities and expand into serving medical practices, a key lever of income and wealth for many of our clients. With the support of Summit and Silversmith, and the benefit of their deep experience in the healthcare and financial services sectors, we are positioned to accelerate our M&A strategy, drive growth, further invest in our technology and team and solidify Earned’s industry leadership position.”
“Doctors face distinct — and often complex — financial circumstances and opportunities throughout their careers, from residency through retirement. The Earned platform is purpose-built to provide holistic solutions to help optimize for the needs of healthcare professionals,” said Darren Black, a Managing Director at Summit Partners who has joined Earned’s Board of Directors. “We are excited by the scalability of the Earned platform and the team’s comprehensive, evidenced-based approach. John and his team bring an impressive combination of client-centricity, expertise, and execution, and we look forward to supporting Earned in their growth and expansion nationwide.”
“Medical professionals have long been underserved by today’s highly fragmented wealth management industry. With a singular focus on the needs of healthcare professionals, Earned has quickly become one of the most trusted financial services organizations serving doctors,” said Jeff Crisan, a Managing Partner at Silversmith, who has also joined the Earned Board of Directors. “The acquisition of Thomas Doll extends the offerings of the Earned platform even further, adding in-house tax planning and retirement programs for doctors. We look forward to working with John and his team as they continue to both build and acquire leading financial solutions to serve our healthcare industry.”
The Thomas Doll acquisition will help accelerate the combined Earned Wealth’s growth and expand the breadth of financial services offerings. Thomas Doll clients will benefit from Earned’s comprehensive wealth management approach, trusted fiduciary advisors, and proprietary tech platform.
About Earned Wealth
Earned Wealth is the first comprehensive, tech-enabled financial services firm exclusively for healthcare professionals and medical practices. The company uses a doctor’s unique career journey — from residency to buying into private practice to retirement — as a lens for the company’s data-driven recommendations. Earned Wealth’s centralized, tech-forward approach maximizes doctors’ wealth cohesively and seamlessly, helping doctors earn more, invest smarter, and reduce risk. Because Earned Wealth understands the ins and outs of a doctor’s career, clients benefit from specially trained Certified Financial Planners™ and technology that plans and adjusts for changes throughout a doctor’s working life.
