Bala Cynwyd Startup Helps Users Learn How to Handle Their Finances

Adam Holt founded Stellar Startups finalist Asset-Map to help his clients better understand and handle their finances, writes Erin Arvedlund for Philly.com.

Holt, who still works part-time as a lead adviser at RubinGoldman and Associates in Bala Cynwyd, noticed that a lot of his clients felt lost when reading financial reports.

“When finances are complicated, people get stuck,” said Holt.

He added that even clients with a high net worth got frustrated with the reports, giving Holt the idea to create a visual map. This uses a single page to display the client’s life insurance, retirement accounts, and various other assets making it easier to discuss them.

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Holt created Asset-Map five years ago with his own money. He hired BISIL to create the software and by 2012, around 90 AXA financial advisers were using Asset-Map.

“I realized it should be a standalone company,” said Holt.

So four years ago, Holt raised $600,000 from friends and family and added around $1 million of his own money to get the company off the ground. Now it has over $3 million in revenue and is used by around 3,000 financial advisers worldwide.

Read more about the startup at Philly.com by clicking here.

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