Wealthbox, a New York-based CRM software provider for financial advisers, has announced a definitive agreement for a majority investment of US$200 million from Sixth Street Growth, the growth investing arm of Sixth Street.

The investment will support Wealthbox’s plans to expand operations, accelerate product development, and broaden its presence in the wealth management sector.

Sixth Street Growth cited confidence in Wealthbox’s leadership, its platform, and its roadmap, which includes the introduction of AI-driven features aimed at improving adviser productivity and firm-wide efficiency.

“This partnership with Sixth Street is a defining moment for Wealthbox,”

said John Rourke, Chief Executive and Co-founder of Wealthbox.

“With Sixth Street’s backing, the new funding will allow us to move faster than ever to extend our leadership in the market.”

Michael McGinn, Partner at Sixth Street and Co-Head of Sixth Street Growth, said,

“We believe that [Wealthbox] offers a valuable, adviser-centric CRM solution for the wealth management channel.”

As part of the transaction, McGinn, along with Paul Dodd (Operating Partner) and Alex Goodman (Principal) of Sixth Street Growth, will join Wealthbox’s Board of Directors.

Existing investor Frontier Growth will retain a stake by rolling over a substantial portion of its equity.

Wealthbox’s current leadership will remain, with management also reinvesting in the company.

Featured image credit: Edited by Fintech News America, based on image by ngad via Freepik