MyNewFinancialAdvisor.com Crowdfunds to $1.5 million Series A Round
- Series A round was oversubscribed by accredited investors via crowdfunding
- Industry dominant community of 75,000+ accredited investors and their financial advisors
SANTA BARBARA, CA, September 11, 2013 – MyNewFinancialAdvisor, Inc. (MNFA), the nation’s largest on-line network introducing mass affluent Baby Boomers to financial advisors, completed its Series A financing for $1.5 million via crowdfunding. The round was significantly over-subscribed.
"This was a pleasant surprise for us and we are very excited about the opportunity that this raise represents on several fronts. It validated our business model in terms of the extraordinary demand it received, and it also validated our growing universe of accredited investors," said Frank Troise, MNFA Founder. “Accredited investors are clearly looking for additional return (alpha) in their portfolios.”
For its Series A, MNFA conducted an extensive due diligence on existing crowdfunding platforms and decided to use a private secure portal. This allowed MNFA to control the information presented to any interested accredited investors and to protect the investors information. In the portal, MNFA’s accredited investors validated their net worth and investment knowledge/sophistication.
Investors were then reviewed and approved by MNFA to review MNFA’s Series A documentation. If they were interested, and approved to invest, those accredited investors were then directed to MNFA’s office; and contacted directly by MNFA’s team for the completion of their investment documents and given funding instructions. The accredited investor attested at multiple points in the process their net worth, income, and financial sophistication.
On July 10, 2013, the Securities and Exchange Commission (SEC) announced that, in accordance with the Jumpstart Our Business Startups (JOBS) Act of 2012, it has lifted the ban on general solicitation and advertising for securities offerings. It is expected that this will significantly alter the investment banking landscape for a variety of sectors and capital lifecycles.
Press Contact:
FiComm Partners
Jason Lahita -- 973-460-7837, Jason.lahita@ficommpartners.com
About My New Financial Advisor
My New Financial Advisor is dedicated to meeting the needs of today’s Baby Boomer by providing them what they need: Free Financial Healthcare. The FreeRetirementReport.com offering gives Baby Boomers the same high quality analysis available to ultra-high-net-worth individuals. MNFA’s innovative turn-key solution for financial advisors combines proven financial analysis tools, online and affiliate marketing technology and performance based marketing techniques to connect Baby Boomers and financial advisors immediately on a massive national scale. Visit www.mynewfinancialadvisor.com for more company information.
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