Aaron Klein, who stepped down as CEO of Nitrogen in November, has resurfaced at Fynancial, where he’ll serve as a strategic advisor for the wealthtech firm that has been building what it calls a "Social Financial Platform" for the wealth management industry.
Fynancial used Nitrogen’s 2023 Fearless Investing Conference as a launchpad. The platform, created by advisor-turned-wealthtech-founder Tom Fields, aims to serve the next generation through its SFP, “the world’s first” such tool for the wealth management industry. It combines traditional wealth management tech with a more modern user experience that better relates to a younger client’s expectations from social engagement platforms (aka the scroll).
The appointment comes after Fynancial's seed funding round, in which it raised $1 million this month. Advisors can white-label Fynancial’s technology to create private and secure mobile and social experiences to engage clients.
“In the words of Steven Schwarzman, ‘10s make it rain.’ Aaron Klein is an 11,” Fields said in a statement. “Not only as a business leader, but more importantly, as a sincere individual. Aaron’s experience in creating a new wealth tech category, his competitive greatness and profound understanding of the markets we serve will make him an invaluable resource.”
“The Riskalyze/Nitrogen journey taught me a lot of lessons in category creation and building a wealth tech powerhouse, and I believe Fynancial has all the ingredients to do it again, not to mention the secular trend of the generational wealth transfer that is upon us. Gen Z doesn’t want more emails—they want a social financial platform, and Fynancial is poised to capture this new market with its incredible product,” Klein said in a statement.
Late last year, Klein departed Nitrogen (formerly Riskalyze), the company he founded 12 years ago as a risk tolerance documentation tool. He was succeeded by Dan Zitting, the founder of Workpapers.com, which was acquired by Galvanize; he eventually became CEO of the company, which later rebranded as Diligent.
At the time, Klein said he decided to step down after mulling his experience co-founding Riskalyze in 2011, and leading the firm through 42 quarters of growth to become “the largest company I’ve ever run in my career." The company now needs someone to scale it, he said.