The Zero-Churn Solution Helping Average Americans Retire With Peace of Mind

Retirable’s team is building a tech-enabled but human-powered answer to America’s retirement crisis. As the team announces another $6 million in seed funding, we're proud to be lead investors.

The Zero-Churn Solution Helping Average Americans Retire With Peace of MindThe Zero-Churn Solution Helping Average Americans Retire With Peace of Mind

10,000 baby boomers in the U.S. turn 65 every day. 21 million of these Americans have less than $500,000 in savings and are completely ignored by the wealth management industry in the United States. While millennials have been incredibly well served by fintechs like Chime, Robinhood, M1, Titan, and more, the finance industry has left people nearing retirement or currently in retirement to figure things out for themselves.

That changed last year when three seasoned fintech entrepreneurs came together to launch Retirable.

Founded by former PolicyGenius execs Tyler End and Ian Yamey, alongside former WiseBanyan CEO Brian Ramirez, Retirable is building a first-of-its-kind holistic retirement solution for the average American.

Unlike others in the do-it-for-me space, the company doesn’t give customers a robot to handle the relationship, as the team recognizes that a person's retirement is something that needs personal attention. So, armed with technology, Retirable advisors create a personalized financial plan and investment strategy for customers, a decumulation account that provides retirees with steady income every month, and spending tools like the Retirable debit card to help keep retirees organized. Since launching, Retirable customer account sizes are over 3X that of other fintechs in the financial advisory space with not a single customer churning off.

At Primary, we believe in investing in companies that democratize access to financial tools (like Flock Homes and Realm) and empower customers’ financial futures with automation (like Lili and Naya Homes). As we enter into a time of economic uncertainty for all Americans, we’re excited to have Retirable working with Americans relieve some of the stress.

Why we like Retirable

At its core: Building the trusted financial partner for the average American retiree.

Its mission: To provide peace of mind for the 21 million American retirees who deserve it.

How: Retirable is building the trusted advisor for Americans with less than $500,000 of savings. They do this with next-gen decumulation platform that helps near retirees or retirees with financial planning, automated investing, a predictable monthly income stream, budgeting and spending tools, identity theft protection, and more. With the use of technology, Retirable is able to serve millions of Americans with a 10X better experience than the financial advisors who serve people with even more money.

Why now: 10,000 baby boomers in the U.S. turn 65 every day and the majority of them are being ignored by financial advisors who don’t believe they are profitable enough customers for them to work with. Aside from the fact that we’re entering a period of economic turbulence, every American deserves a trusted advisor. Thanks to the penetration of technology within the baby boomer generation, Retirable couldn’t be timed any better.

The “it” factor: At Primary we believe in backing exceptional Founders. The Retirable team has three of them.

CEO Tyler End has unbelievable founder-market-fit as a CFP who spent nearly seven years at Northwestern Mutual before making the jump to the big apple to help scale PolicyGenius to unicorn status. Tyler’s Cofounder and CTO Ian Yamey has served as CTO for two breakout fintechs, PolicyGenius and QuadPay. Lastly Brian Ramirez’s experience from serving as CEO of the Roboadvisor company WiseBanyan and then SVP of Axos Invest provides him with the rare background of someone who has seen what next-gen wealth management looks like at scale.

Tags: First Look