Harness Wealth, a New York-based wealthtech business that provides individuals access to financial advice, began offering its platform of services to the public this week.
The platform will focus mainly on Gen X mid-career professionals with high earning potential, a group that it said in an announcement has been underserved by existing providers.
Harness Wealth was founded by David Snider, who serves as CEO, and Katie Prentke English, the chief marketing officer.
Snider was previously chief operating officer and chief financial officer at Compass, a real estate technology company. English was chief market officer at Nutmeg, a European digital investment advisor.
Harness Wealth's platform uses a proprietary algorithm that takes the current and future needs of clients and pairs them with advisors who are deemed best suited to address clients' opportunities. The firm said it does not charge clients for using the service.
The firm noted that it conducts extensive due diligence on prospective advisors, involving some 120 attributes. It said it takes a minority percentage of the advisor's standard fee for clients it refers. The advisory network includes financial advisors, CPAs and trust and estate attorneys across the U.S.
Harness Wealth has been working with clients on an invitation-only basis since the beginning of the year, the firm said in the announcement.
