LearnVest
| Company type | Private |
|---|---|
| Industry | Financial services |
| Founded | 2008 |
| Founder | Alexa von Tobel |
| Fate | Acquired by Northwestern Mutual in 2015; phased out consumer services in 2018 |
| Headquarters | New York City , United States |
Area served | United States |
Key people | Alexa von Tobel (CEO) |
| Products | Personal finance tools, advisory services, financial planning programs, iPhone and iPad apps |
| Parent | Northwestern Mutual (since 2015) |
LearnVest was a U.S.-based financial planning firm established by CEO Alexa von Tobel. The company specialized in providing personal finance tools and advisory services.
History
Alexa von Tobel founded LearnVest in 2008 after taking a hiatus from Harvard Business School, with the concept initially conceived during her undergraduate studies at Harvard University. The company was headquartered in New York and maintained an additional Expert Hub located in Phoenix. LearnVest made its public debut at the 2009 TechCrunch50 event held in San Francisco, where it quickly attracted attention within the industry.
On March 25, 2015, LearnVest was acquired by Northwestern Mutual Life Insurance Co., which chose to keep it operating as an independent division under von Tobel’s direction. This acquisition supported Northwestern Mutual’s strategy of utilizing digital innovation to strengthen adviser and client interactions. The integration of LearnVest’s platform was intended to enhance financial planning processes and foster deeper client relationships.
By May 3, 2018, LearnVest had phased out its consumer-focused financial planning services and the LearnVest@Work offerings as part of the broader assimilation into Northwestern Mutual’s operations.
Services
The LearnVest Program centers on modifying client behaviors, transitioning them from merely reducing expenses to adopting goal-oriented budgeting and investment strategies. Clients work directly with LearnVest Planners to make progress toward their financial objectives. The program provides three levels of financial planning access and was prominently featured in Alexa von Tobel’s New York Times bestselling book, Financially Fearless.
Money Center Tool
The Money Center is a digital platform designed to help users monitor spending habits, visualize budgets, and track financial goals. It incorporates features such as budgeting tools, goal monitoring, trend analysis, and a financial inbox. A notable functionality is the real-time co-viewing capability that allows clients and their LearnVest planners to review accounts together, fostering enhanced engagement.
LearnVest Planning
Operating as a Registered Investment Advisor under LearnVest Inc., LearnVest Planning employs Certified Financial Planners across the country. As an SEC-registered entity, it offers portfolio guidance and general investment advice, thereby broadening the company’s service portfolio into investment management.
iPhone and iPad apps
LearnVest introduced complimentary iPhone and iPad applications aimed at assisting users in managing spending and tracking financial goals. The LearnVest app received recognition as an iTunes App Store New & Noteworthy selection.
Investment and finances
The company successfully completed several funding rounds: $4.5 million in Series A, $19 million in Series B, $16.5 million in Series C, and $28 million in Series D financing. Prominent investors included Accel Partners, Northwestern Mutual, American Express Ventures, Claritas Capital, Ed Mathias from The Carlyle Group, and Todd Ruppert of T. Rowe Price.
Events
In October 2012, LearnVest organized its first live gathering, LearnVest LIVE, in New York City. The event featured notable speakers such as fashion designer Cynthia Rowley, Cosmopolitan editor Joanna Coles, Top Chef judge Gail Simmons, and Gilt Groupe cofounder Alexandra Wilkis Wilson. Additional events were later hosted in cities including Los Angeles, Boston, and San Francisco. In 2014, CEO Alexa von Tobel embarked on a 20-city book tour for Financially Fearless, designed to support individuals across the country in enhancing their financial health.
Press and Recognition
- Selected for TechCrunch50 in 2009
- Featured in Forbes' Top 100 Websites for Women (2012)
- Included in Business Insider's Digital 100 List (2011)
- Named among Time Magazine's 50 Best Websites (2011)
- Awarded FinovateFall Best of Show for three consecutive years (2011, 2012, 2013)
- Honored with the Most Influential Content Award in 2014