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Wharton professor Michael Steele
Michael Steele

Robo Advisor qplum Adds Wharton Professor, Ex-Goldman Sachs Portfolio Manager

Targeting institutional assets, qplum’s personnel additions signal new growth goals.

Automated investment platform qplum is adding Wharton statistics professor Dr. J. Michael Steele as an advisor to its quantitative research team, the company announced. The fintech startup is also bringing in Calvin Yu, a former Goldman Sachs portfolio manager who oversaw $20 billion in institutional assets, according to the company.

The additional talent will help the company target endowments, foundations and pension plans, said the firm’s CEO, Mansi Singhal. She studied under Dr. Steele at the University of Pennsylvania in 2004.

The automated investing platform listed nearly $70 million in assets under management across moe than 500 accounts on its most recent filing. The company services high-net-worth individuals and families, as well as registered investment advisors, family offices and other institutional clients. 

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