A robo-advisor and an advisory firm are partnering to launch a hybrid digital and human advisory platform that will be available to consumers later this year, the two firms announced Thursday.
Prumentum, a digital-advice firm based near San Francisco, and Plancorp, a financial advisory firm in St. Louis with $3.5 billion in assets, are partnering to create BrightPlan, a hybrid platform that will be available directly to consumers.
Prumentum acquired a significant equity stake in Plancorp in the deal, details of which were not released. BrightPlan is a wholly owned subsidiary of Prumentum Group, according to the companies.
BrightPlan evaluates a user’s finances to create a set of financial objectives and tracks the client’s progress, according to the companies. Users can track their goals in conjunction with their assets in real time. The platform provides clients with access to a digital platform, as well as to a financial advocate, when they feel that their situation requires it, Prumentum says.