Earned Wealth raises $200 million
Earned Wealth, a financial services firm focused exclusively on medical professionals, announced a $200 million capital commitment led by Summit Partners and Silversmith Capital Partners with participation from existing investors Juxtapose, Hudson Structured Capital Management, and Breyer Capital.
In conjunction with the investment, Earned announced the acquisition of Thomas Doll, a 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.
Founded in 2021, Earned offers wealth management services for physicians. Some of the services being offered include trust and estate planning, debt management, investment management, and insurance planning. The company says that aside from helping medical professionals with life and disability insurance, it can also review their auto, home, umbrella, long-term care, and medical malpractice coverages.
“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. 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.” – John Clendening, Founder and CEO of Earned.
“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. 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.” – Darren Black, Managing Director at Summit Partners.
“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. 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.” – Jeff Crisan, Managing Partner at Silversmith.
