Earned Wealth Announces $200 Million Investment and Acquisition of Thomas Doll

Earned Wealth, a technology-driven financial services firm focused exclusively on the needs of healthcare professionals, announced a $200 million capital commitment led by growth investors Summit Partners and Silversmith Capital Partners, with participation from existing investors Juxtapose, Hudson Structured Capital Management and Breyer Capital. The capital will support the expansion of the company’s platform and offerings through product innovation and strategic acquisitions. In conjunction with the investment, Earned announced the acquisition of Thomas Doll, a leading provider of financial services to healthcare professionals and practices. Earned currently serves more than 3,000 clients and has more than $2 billion in assets under management.

Earned’s mission is to redefine financial services for healthcare professionals by creating the first integrated, technology-enabled personal financial management platform that offers wealth, tax, career counseling, insurance, and other services designed to meet the complex needs of physicians. Using the healthcare professional’s career path as a lens, Earned combines deep predictive technology with a comprehensive set of financial services delivered by fiduciary advisors who understand the unique challenges physicians face. With a focus exclusively on healthcare professionals, Earned advisors are well-positioned to guide decisions ranging from medical school loan repayment schedules and private practice purchases to group malpractice insurance and optimal tax strategies when selling a practice. Earned’s evidence-based approach can proactively and continuously help optimize financial decision-making in nearly every aspect of a client’s financial life.

“From the beginning, we have been focused on building the leading destination for physicians looking to optimize their financial well-being by delivering tailored solutions and services that allow them to focus on what they do best,” said John Clendening, Founder and CEO of Earned. “Today’s announcement is a key step in our journey to continue to transform financial outcomes for these heroes of our society. With the addition of Thomas Doll, we are expanding our capabilities and into serving medical practices, a key driver of revenue and wealth for many of our clients. With the support of Summit and Silversmith and the benefit of their extensive experience in the healthcare and financial services sectors, we are positioned to accelerate our M&A strategy, drive growth, continue to invest in our technology and team, and strengthen Earned’s industry leadership position.”

“Physicians face distinct—and often complex—financial circumstances and opportunities throughout their careers, from residency to retirement. Earned’s platform was created specifically to provide holistic solutions that help optimize the needs of healthcare professionals,” said Darren Black, Managing Director at Summit Partners, who has joined Earned’s board. “We are excited about the scalability of Earned’s platform and the team’s comprehensive, evidence-based approach. John and his team bring an impressive combination of customer focus, expertise, and execution, and we look forward to supporting Earned as they grow and expand nationwide.”

“Medical professionals have long been underserved by today’s highly fragmented wealth management industry. With a unique focus on the needs of healthcare professionals, Earned has quickly become one of the most trusted financial services organizations for physicians,” said Jeff Crisan, Managing Partner at Silversmith, who also joined Earned’s board. “The acquisition of Thomas Doll further expands Earned’s platform offerings by adding in-house tax planning and physician retirement programs. We look forward to working with John and his team as they continue to build and acquire leading financial solutions to serve our healthcare industry.”

The acquisition of Thomas Doll will help accelerate the combined company’s growth and expand the scope of its financial services offering. Thomas Doll clients will benefit from Earned’s comprehensive approach to wealth management, trusted fiduciary advisors and proprietary technology platform.

“Thomas Doll meets all of our criteria for the type of business we want to acquire: a strong focus on healthcare professionals, outstanding customer service, a desire to accelerate growth and complete alignment with the vision and mission. I am excited to welcome Thomas Doll’s clients, employees and management team to the Earned family,” said Clendening. “I have great respect for the organization that Thomas Doll has built over the past sixty years and I am confident that our shared values ​​and complementary services will help us together open a new chapter of growth.”

“Together, we share a commitment to meeting the needs of healthcare professionals and a belief that a broad range of tailored services will help us improve their overall financial health,” said Barry Oliver, senior advisor at Thomas Doll. “I am personally excited about this partnership and confident that our future together is bright.”

Thomas Doll has changed its name to Thomas Doll, An Earned Wealth Company. Clients can continue to use Thomas Doll’s services through the Thomas Doll website at www.thomasdoll.com. Prospective clients can use both companies’ services through Earned’s website at www.earnedwealth.com.

About earned wealth

Earned Wealth is the first comprehensive, technology-driven financial services firm exclusively for healthcare professionals and physician practices. The firm uses a physician’s unique career path—from residency to practice acquisition and retirement—as a lens for the firm’s data-driven recommendations. Earned’s central, technology-enabled approach maximizes physician wealth consistently and seamlessly, helping physicians earn more, invest smarter and reduce risk. Because Earned understands the ins and outs of a physician’s career, clients benefit from specially trained Certified Financial Planners and technology that plans for and adapts to changes throughout a physician’s career. Earned also offers solutions for physician practices, including tax, accounting, payroll and retirement solutions. Earned Wealth is a brand name of Earned Wealth Holdings. Wealth management services are offered through Earned, a registered investment advisor with the Securities and Exchange Commission. To learn more about Earned, visit www.earnedwealth.com.

About the summit partners

Founded in 1984, Summit Partners is a global alternative investment firm with capital dedicated to growth capital, fixed income and public equity opportunities. Summit invests in growth sectors of the economy and has invested in more than 550 companies in healthcare, technology and other growth industries, including financial technology and services and business services. Summit’s significant healthcare and financial services investments include ABILITY Network, Focus Financial Partners, InnovaCare, LifeStance Health, Paradigm Outcomes and RWA Wealth Partners. Summit maintains offices in North America and Europe and invests in companies around the world.

For more information, visit www.summitpartners.com or follow us on LinkedIn.

About Silversmith Capital

Founded in 2015, Silversmith Capital Partners is a Boston-based growth capital firm with $3.3 billion under management. Silversmith’s mission is to partner with and support the best entrepreneurs in growing, profitable healthcare and technology companies. Representative healthcare investments include Iodine Software, LifeStance Health, Market Access Transformation, MediQuant, Nordic Consulting, Panalgo, and Upperline Health.

For more information, including a complete list of portfolio investments, visit www.silversmith.com or follow the company on LinkedIn.

About the Thomas doll

Thomas Doll provides physicians and dentists with comprehensive financial care, including wealth management, retirement planning, tax planning and consulting services, including payroll expertise, practice development, succession counseling and personal counseling. Through integrated financial planning, Thomas Doll helps healthcare professionals enjoy long-term success in business and life. The Walnut Creek, California-based company was founded in 1963 and provides wealth management services through a Securities and Exchange Commission-registered investment advisor. For more information about Thomas Doll, visit www.thomasdoll.com.