LearnVest

LearnVest was an American financial planning company founded by CEO Alexa von Tobel. It sells personal finance software.

LearnVest Inc.
TypeSubsidiary
IndustryPersonal finance, Software
Founded2009
FounderAlexa von Tobel[1][2][3]
Defunct2018[4]
HeadquartersNew York, New York, United States
Area served
United States
RevenueN/A
ParentNorthwestern Mutual Life
WebsiteLearnVest.com

History

Alexa von Tobel entered Harvard Business School in the fall of 2008, but took a leave of absence and launched LearnVest.[5][6][7] Her inspiration for LearnVest started while she was a senior at Harvard University in 2006.[8]

LearnVest's headquarters are in New York, and they have an Expert Hub in Phoenix.[9][10] LearnVest was selected as a TechCrunch50 2009 Company and debuted in September 2009 at the TechCrunch50 conference in San Francisco.[11]

On March 25, 2015, Northwestern Mutual Life Insurance Co., based in Milwaukee, announced it would acquire LearnVest. Financial terms of the deal weren’t disclosed. LearnVest will continue to operate as a separate unit under founder and Chief Executive von Tobel. The deal has been viewed as the latest attempt by traditional financial services firms to adapt to new digital technologies. Northwestern Mutual expects the technology will encourage more adviser-client interaction and ultimately create a more rewarding experience for the customer and adviser. By adding LearnVest’s technology to the insurer’s existing planning platform, those advisers can devote more time to working with customers on carrying out their recommendations. The arrangement also puts customers in more frequent contact with those advisers.[11]

On May 3rd, 2018, LearnVest discontinued its financial planning offering for consumers, as well as its LearnVest@Work program for businesses.[12]

Services

The LearnVest Program focuses on behavior change and “takes you from cutting expenses to budgeting for goals to investing your money.”[13] Clients work with LearnVest Planners to make progress on their money.[14] There are “three tiers of access to financial plans”[15] The LearnVest Program was featured in von Tobel’s New York Times Bestseller, Financially Fearless.[16]

Money Center Tool

The Money Center is an online tool that lets users track their spending, visualize their budgets and financial goals.[17] In addition to the built-in budgeting system, full goal tracking, full trends and analysis, and a financial inbox, Money Center allows live co-viewing of user’s account and dashboard between the user and his or her LearnVest financial planner.[18]

LearnVest Planning

LearnVest Planning, a subsidiary of LearnVest Inc., is a Registered Investment Advisor through which LearnVest employs Certified Financial Planners nationwide.[19] As a registered SEC financial advisor, LearnVest is able to offer portfolio recommendations and general investment advice.

iPhone and iPad apps

LearnVest released free iPhone and iPad apps that help users track their spending and their financial goals. The LearnVest app was featured as an iTunes App Store New & Noteworthy pick.[20]

Investment and finances

LearnVest raised a $4.5 million Series A round,[21] a $19 million Series B round,[22] a $16.5 million Series C round, and a $28 million Series D round.[13]

Investors include Accel Partners, Northwestern Mutual, American Express Ventures, Claritas Capital, Ed Mathias of The Carlyle Group, and Todd Ruppert of T. Rowe Price.[13][23]

Events

The company hosted its first live event, LearnVest LIVE, in New York City in October 2012, featuring lectures by fashion designer Cynthia Rowley, Cosmo editor and Project Runway mentor Joanna Coles, Top Chef judge Gail Simmons and Gilt Groupe cofounder Alexandra Wilkis Wilson.[24] LearnVest has since held LIVE events in Los Angeles, Boston and San Francisco.[25][26][27] In 2014, LearnVest CEO Alexa von Tobel kicked off a 20-city book tour for Financially Fearless.[28] The book tour focused on going across the country to help people make progress on their money.[28]

Press and awards
  • TechCrunch50 2009[18]
  • Forbes's Top 100 Websites for Women[29]
  • Business Insider's Digital 100 List[30]
  • Time Magazine's annual list of 50 Best Websites[31]
  • FinovateFall Best of Show 2011, 2012, 2013[32]
  • Most Influential Content 2014[33]

References
  1. "ELISA Kit, Antibody, Protein and more | MyBioSource Blog". Your-story.org. Retrieved 2015-11-17.
  2. White, William N. (2009-10-29). "Personal Finance Web Site To Debut | News | The Harvard Crimson". Thecrimson.com. Retrieved 2015-11-17.
  3. Howell, Korey (October 13, 2016). "Have An Idea For The Perfect App? Act On It!". Retrieved 2019-07-30.
  4. https://www.investmentnews.com/northwestern-mutual-shutting-down-learnvest-74195
  5. "ELISA Kit, Antibody, Protein and more | MyBioSource Blog". Your-story.org. Retrieved 2015-11-17.
  6. White, William N. (2009-10-29). "Personal Finance Web Site To Debut | News | The Harvard Crimson". Thecrimson.com. Retrieved 2015-11-17.
  7. Howell, Korey (October 13, 2016). "Have An Idea For The Perfect App? Act On It!". Retrieved 2019-07-30.
  8. Banjo, Shelly (March 26, 2015). "Dropping out of Harvard Business School may have been the best decision of this woman's life". Quartz. Retrieved 2019-07-30.
  9. "LearnVest Raises $16.5 Million". Business Insider. 2013-07-26. Retrieved 2015-11-17.
  10. "Why Most Twentysomethings Dont Understand Personal Finance". Archived from the original on January 26, 2010. Retrieved February 22, 2015.
  11. Moyer, Liz (March 25, 2015). "LearnVest". Archived from the original on December 28, 2014. Retrieved February 22, 2015.
  12. "Northwestern Mutual and LearnVest Take Next Step in Integration". Newsroom | Northwestern Mutual. Retrieved 2018-10-14.
  13. "Personalized Financial Planning Service LearnVest Raises $28M From Northwestern Mutual Capital". TechCrunch. 2014-04-15. Retrieved 2015-11-17.
  14. "Putnam Investments To Provide 401(K) Participants With Access To Financial Wellness Services To Help Plan and Prepare For Retirement". Putnam.com. 2013-09-09. Archived from the original on 2015-11-18. Retrieved 2015-11-17.
  15. "Financial Advice for Those With Small Nest Eggs". The New York Times. Retrieved 2015-11-17.
  16. "Alexa von Tobel talks money mindset in "Financially Fearless" book". Blogs.denverpost.com. 2014-01-27. Retrieved 2015-11-17.
  17. Hardawar, Devindra (11 September 2012). "Financial planning for all: LearnVest gets its biggest update yet". Venture Beat.
  18. Perez, Sarah (11 September 2012). "It's Not Just For Women Anymore: LearnVest Brings Financial – And Now Investment – Planning To Everyone". TechCrunch.
  19. Carrns, Ann (11 September 2012). "LearnVest Dips Its Toes Into Investment Advice". The New York Times.
  20. iTunes App Store (2012). "LearnVest". Apple.
  21. Miller, Claire Cain (1 April 2010). "Accel Invests in Personal Finance Site for Women". The New York Times.
  22. Rao, Leena (12 July 2011). "Accel And Others Put 19M In Female-Focused Personal Finance Guide LearnVest". TechCrunch.
  23. Casserly, Meghan (26 July 2013). "LearnVest Planning's $16.5 Million Cash Infusion". Forbes.
  24. "Announcing: LearnVest LIVE, an Inspiring Evening of Lifestyle and Money Advice". Fox Business. Archived from the original on 2013-07-10.
  25. "LearnVest LIVE: A Night to be Financially Fearless - New York Calendar". Guest of a Guest. Retrieved 2015-11-17.
  26. "LearnVest LIVE is coming to Los Angeles!". Archived from the original on July 14, 2014. Retrieved June 11, 2014.
  27. Schicktanz, Julie (2014-01-15). "LearnVest-Inspired Book, Financially Fearless, Tops Charts as Best Seller". Finovate. Retrieved 2015-11-17.
  28. "I'm Alexa von Tobel, Founder of LearnVest, and This Is How I Work". Lifehacker.com. 2013-06-23. Retrieved 2015-11-17.
  29. Casserly, Meghan (20 June 2012). "Top 100 Websites for Women 2012". Venture Beat.
  30. Shontell, Alyson (21 September 2011). "2011 Digital 100: The complete list 1-100". Business Insider.
  31. McCracken, Harry (16 August 2011). "50 Websites That Make the Web Great". Time.
  32. Penn, David (2015-03-27). "LearnVest Acquired by Northwestern Mutual for More than $250 Million". Finovate. Retrieved 2015-11-17.
  33. Brittany Dowell (2014-03-07). "We're Proud to Announce Influence & Co.'s 3rd Annual MVP Awards!". Blog.influenceandco.com. Retrieved 2015-11-17.
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