Earned Wealth announces $200m capital injection for expansion and acquires Thomas Doll

In a significant move to bolster its unique financial services tailored for medical professionals, Earned Wealth, a leading tech-enabled financial services firm, has successfully secured a $200 million capital commitment. This funding round was led by growth equity investors Summit Partners and Silversmith Capital Partners, with continued support from existing investors such as Juxtapose, Hudson Structured Capital Management, and Breyer Capital. The infusion of capital will enable Earned Wealth to enhance its platform and expand offerings through innovative products and strategic acquisitions.

Concurrently with this funding, Earned Wealth announced the strategic acquisition of Thomas Doll, a renowned provider of financial services to medical professionals and practices. This acquisition is poised to significantly enhance Earned Wealth’s service portfolio, catering to over 3,000 clients and managing more than $2 billion in assets.

John Clendening, Founder and CEO of Earned, emphasized the company’s mission to reshape financial services for healthcare professionals by establishing the first integrated personal financial management platform specifically designed for them. This platform provides comprehensive services including wealth management, tax planning, career advisory, insurance, and more, tailored to the intricate financial landscapes of doctors.

The addition of Thomas Doll to Earned’s portfolio expands its capabilities into serving medical practices, a critical aspect of income and wealth generation for many clients. “The acquisition of Thomas Doll broadens our capabilities and enables us to serve the comprehensive needs of medical practices more effectively,” stated Clendening.

Darren Black, a Managing Director at Summit Partners who now sits on Earned’s Board of Directors, highlighted the scalable nature of Earned’s platform. “Earned’s purpose-built solutions uniquely address the complex financial needs of healthcare professionals from residency through retirement,” said Black.

Jeff Crisan, Managing Partner at Silversmith, also joined the Board of Directors, noting, “Earned has rapidly become a trusted name in financial services for doctors, thanks to its singular focus and comprehensive approach.”

The integration of Thomas Doll is expected to accelerate growth and expand the breadth of financial services that Earned offers. This acquisition not only enhances in-house tax planning and retirement programs for doctors but also ensures a continued high standard of client service and growth acceleration aligned with Earned’s vision.

Barry Oliver, a Senior Advisor with Thomas Doll, expressed enthusiasm about the merger: “This partnership marks a promising future as we merge our expertise to enhance the financial health of healthcare professionals.”

This strategic expansion by Earned Wealth signifies a pivotal development in financial services, catering specifically to the nuanced needs of the medical community, ensuring comprehensive support throughout their professional journeys.