Company Overview
Yourefolio is a pioneering company in the estate and legacy planning sector, founded in 2014 and headquartered in Westlake, Ohio. The company offers a comprehensive platform designed to modernize and simplify the estate planning experience for professionals and their clients. Yourefolio is positioned as a leader in estate planning technology, leveraging innovative features to transform outdated manual processes into streamlined digital workflows.
Product and Services
Yourefolio's software is acclaimed for being the first and most comprehensive estate and legacy planning tool available today, specifically directed at estate planning professionals such as attorneys and financial advisors. Key features of the platform include:
- Avatar-Assisted Onboarding: An industry first, designed to gather client information effectively and efficiently.
- Dynamic Family Planning: Identifies items that can complicate the estate transfer process.
- Plan Design Summary and Flowcharts: Tools for visualizing estate scenarios and ensuring compliance with tax thresholds.
- Document Storage and Analysis: Provides secure and efficient management of important documents with detailed analytical tools.
- Integration Capabilities: Supports integration with existing client data systems such as Redtail Technologies and TD Ameritrade.
These features are aimed at providing estate and financial advisors with essential tools to navigate the complexities of estate planning, supporting robust client relationships and seamless communication.
Financial Data
Yourefolio has an estimated annual revenue of $290,000. With a team of only four employees, the company boasts a revenue per employee of approximately $72,500. However, there was a 33% reduction in employee count over the past year, indicating potential restructuring or business challenges.
Leadership
The leadership of Yourefolio includes:
- Scott Huff, CEO: With a background in business development and executive management, Huff significantly influences the company's strategic direction and operations.
- Farzana Abdulhusein, Chief Technology Officer (CTO): Brings expertise in technology to enhance Yourefolio's innovative platform capabilities.
Funding and Investment
Yourefolio has completed two funding rounds, with the most recent being a seed round in November 2016 that raised $500,000. The financial support has been instrumental in furthering the company's development and expansion plans. Key investors include the Matrix Pointe Group.
Market and Position
Yourefolio operates in the estate and legacy planning software market, setting itself apart through comprehensive advisor-driven solutions emphasizing ease of use, flexibility, and integration. The firm's alignment of offerings with the modern needs of estate professionals gives it a distinct competitive advantage, further emphasized by its Ohio-based focus, serving local and broader markets with tailored digital solutions.
Competitive Landscape
Yourefolio competes in a niche yet competitive sector. Primary competitors include:
1. Forward Media Group
- Revenue: $1.3M
- Employees: 15
- Growth: -44% in employee count
- Specialty: Web design and digital media services
2. Sqc
- Revenue: $0.1M
- Employees: 2
- Growth: -67% in employee count
- Focus: Solutions in the automotive sector
3. Onesmarter
- Revenue: $1M
- Employees: 11
- Growth: 22% in employee count
- Specialty: IT services and infrastructure solutions
4. Estateably
- Specializes in estate settlement platforms, automating probate management and offering comprehensive accounting functionalities.
5. WealthCounsel
- Offers cloud-based document drafting software for estate planning, serving estate and elder law attorneys.
Unique Selling Points
Yourefolio differentiates itself through a full suite of estate planning tools, emphasizing ease of use and accessibility. Features such as document preparation, tax liability calculations, and integration capabilities position it as a versatile, technology-driven solution in the sector.
Opportunities and Threats
- Opportunities: The rising demand for digital solutions and automation in the estate planning industry presents potential for Yourefolio to grow its user base. Potential collaborations and additional integrations with financial platforms could further enhance competitiveness.
- Threats: Larger competitors with more resources, such as WealthCounsel, may represent significant challenges. The reduction in employee count suggests possible financial or operational constraints.
By focusing on its innovative features and expanding functionality, Yourefolio holds potential to capture a significant share in the evolving estate planning market.
