Trizic

Market position

Positioned as a B2B enterprise wealth technology provider that contrasts itself with firms pivoting B2C robo-advisor technology or assembling disparate B2B assets, emphasizing a single scalable platform built for enterprises from the start. Named in industry listings of leading B2B wealth technology companies and in the WealthTech 100.

Marketed as a single, unified enterprise-class platform designed from inception for large institutional clients, rather than repurposed consumer robo-advisor technology or a roll-up of separate B2B assets, and product-agnostic across ETFs, mutual funds and equities. The company does not compete with its clients through a direct-to-consumer advisory offering.

Technology

A single, hosted, enterprise-class platform architected for large institutional deployments, providing end-to-end digital wealth capabilities including account opening and paperless onboarding, automated advice, portfolio management, trading, rebalancing and business intelligence. The platform is investment-product agnostic and accommodates ETFs, mutual funds and equities, and offers connections into and out of the platform for enterprise integration.

Go-to-market

Enterprise B2B sales into three target verticals across the wealth spectrum (RIAs and asset managers, broker dealers, and banks and credit unions), supported by expansion of deployment and sales organizations after the 2018 Series A and by partnerships and distribution through financial technology providers such as FIS and Fiserv.

Wire houses, brokerages, asset managers, banks, credit unions and Registered Investment Advisors. Named clients have included John Hancock, Level Four Advisors and FIS Global.

Geography

United States; headquarters in the San Francisco Bay Area, California, with locations reported in San Francisco, San Rafael and Larkspur.

History

Founded in 2014 and based in the San Francisco Bay Area (with offices reported in San Rafael and Larkspur, California), Trizic was co-founded by executives with JP Morgan backgrounds. Brad Matthews served as CEO before Drew Sievers, an investor in the company, took over the CEO role, a change reported in April 2017. Trizic demonstrated at FinovateSpring 2015 and drew enterprise interest following Schwab's robo-advice launch. It raised $2.5 million in mid-2017 and a $10 million Series A in March 2018, and by December 2019 had been renamed Harvest alongside a reported $12 million capital raise and a $15 million loan.

Risks & controversies

Industry coverage in April 2017 noted a perception that the company had squandered an early lead, and reported a leadership change in which investor Drew Sievers replaced founder-CEO Brad Matthews after investing $1 million in the company.