Prumentum Group

About Prumentum Group

Prumentum Group, Inc. operates as a holding company in the WealthTech sector, established in 2016 by former Cisco executive Marthin De Beer and serial entrepreneur Robert Wallace. De Beer, with his background leading teams at a major technology firm, and Wallace's experience in building companies, came together to create a platform aimed at democratizing access to financial planning. The company's headquarters are located in Los Gatos, California.

In a significant milestone, Prumentum Group secured $25 million in a Series A funding round in May 2017, with backing from various family offices. This capital injection coincided with the strategic acquisition of a substantial equity stake in Plancorp, a well-established Registered Investment Advisory (RIA) firm founded in 1983 with over $3.6 billion in assets under management at the time. This move was pivotal in forming the company's core offering: a hybrid model that merges digital efficiency with human expertise.

The business centers around its wholly-owned subsidiary, BrightPlan, a digital RIA. BrightPlan functions as a comprehensive financial wellness platform that provides personalized, goal-oriented financial planning and wealth management services. The platform leverages technology, including artificial intelligence, to assess a user's complete financial situation and develop customized financial goals. This digital-first approach is paired with access to human financial advisors from Plancorp, creating a "Hybrid-Robo solution" designed to serve a wide spectrum of clients, from individuals just starting to high-net-worth families and institutions. The business model generates revenue through these financial planning and asset management services, which are offered directly to consumers and also as a financial wellness benefit for corporations to offer their employees.

The BrightPlan service provides users with an interactive planning tool to track their progress against their financial life goals. This integration of Plancorp's long-standing, fiduciary-based financial planning methodologies with BrightPlan's technology platform allows the company to deliver in-depth financial guidance at a broader scale, aiming to make expert advice accessible to anyone, regardless of their net worth. Plancorp itself serves a client base that includes individuals, families, corporations, and institutions, offering services like corporate retirement plan design and business exit planning.