Micruity Inc., a San Francisco-based financial technology company, has closed $5.1 million in seed financing to accelerate the expansion of its income connectivity platform, which facilitates the use of annuities inside 401(k)s.
SixThirty Ventures led the round, the company said in a release, joined by strategic investors Allianz Life Insurance Company of North America, Franklin Templeton, Pacific Life and Western & Southern Financial Group. Alpine Meridian Ventures, Great North Ventures and Altari Ventures completed the round.
“Micruity simplifies access to annuities and other guaranteed products through a secure single point of service, connecting plan sponsors and plan members with asset managers, insurers and record keepers to facilitate the frictionless data sharing needed to power these products at scale,” the company said.
"By automating data collection and transfer, Micruity simplifies administration and minimizes the technical resources required to operate decumulation products," Drew Carrington, head of Franklin Templeton’s institutional defined-contribution business, said in the release.
Relationships are key to our business but advisors are often slow to engage in specific activities designed to foster them.
Whichever path you go down, act now while you're still in control.
Pro-bitcoin professionals, however, say the cryptocurrency has ushered in change.
“LPL has evolved significantly over the last decade and still wants to scale up,” says one industry executive.
Survey findings from the Nationwide Retirement Institute offers pearls of planning wisdom from 60- to 65-year-olds, as well as insights into concerns.
Streamline your outreach with Aidentified's AI-driven solutions
This season’s market volatility: Positioning for rate relief, income growth and the AI rebound
