Self-described tech-centric wealth management firm Farther announced another big increase in its AUM this week, as it surpassed $3 billion in assets and hired 32 new advisors.
Among the advisors on board is a group from Goldman Sachs Personal Financial Management, which has $649 million in AUM and includes Gary Corderman, Robert Davenport, Jonathan Doshier, Jeffrey Hawkins, Jeffery Kernodle, Janet Kohrmann, Jonathan Lamb, Chad Rishel, Mitch Simkins and Waterman.
A $91 million team was also joined by Universal Value Advisors in Reno, Nev. Advisors from there include Joshua Barone, Robert Barone and Andrea Knapp Nolan.
According to the firm, Farther's AUM has more than quadrupled year-over-year, with its current AUM rising to over $3 billion, up to from $1.6 billion in November. It reported that it surpassed the $1 billion mark in AUM in September, up from the $675 million reported in its ADV in June.
Farther was founded in 2019 and has raised $53 million in capital since its inception the latest in a $31 million Series B round announced in September.
According to CEO and co-founder Taylor Matthews, most of the firm's funding has gone to support the development of its custom-built technology.
Part of this technology is its wealth management portal, which provides clients with a single, unified view of their financial holdings and products.
The firm also makes strategic partnerships for additional technologies, after recently announcing its integration with wealth planning technology provider wealth.com in May.