Tifin Group acquires pair of fintech companies

BOULDER — The Tifin Group LLC, an asset and the wealth management industry holding company, has acquired risk profiling company Totum Risk and personal financial planning company MyFinancialAnswers.

The CEOs of the acquired companies, Larry Shumbres and Ben Pitts, respectively, will join Tifin, according to a company news release. 

Terms of the deal were not disclosed.

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“Tifin’s operating companies are building innovative fintech products to help align asset managers with wealth managers to deliver better outcomes and experiences for individuals,” Tifin CEO Vinay Nair said in the release. “Our companies such as Magnifi, Positivly and Clout are growing their footprint and based on feedback from our partners, we have decided to add capabilities for further personalization based on an individual’s risk profile and financial situation. The assets from Totum and myFinancialAnswers will accelerate our ability to serve financial advisors and their clients on these dimensions. We are equally delighted to welcome Larry and Ben to the Tifin family.”

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