Retirement Software Company Raises $1.7 Million

Denver-based Income Laboratory has raised $1.7 million in seed financing from industry executives and investors.

By Rethinking65

Income Laboratory Inc., a Denver-based firm that sells retirement planning software to financial advisors, has raise $1.7 million in seed financing from industry executives and investors.

Among the investors are Dave Agostine, a former managing director for BlackRock and former CEO of Cachematrix; Tom Florence, a managing director at Hamilton Lane and former CEO of 361 Capital; and Robert Pinkerton, CFO at Conga and an Income Lab board member.

The company announced Sept. 8 that it completed the financing round, which it will use to continue to deliver and market its software. The firm’s total funding hit $3 million with the latest round.

Income Lab introduced a beta version of its cloud-based software in early 2020 for financial advisors and planners. Small- and mid-sized registered investment advisors are the company’s target market.

Now fully launched, the software incorporates economic and market conditions, dynamic spending analysis, tax-distribution planning and automated plan monitoring and management. Income Lab charges advisors approximately $159 a month per seat.

Earlier this year the firm added a tax center that provides advisors with tools to evaluate the tax consequences of various portfolio withdrawal strategies.

Latest news

Study Reveals Insight into Affluent American Investors’ Mindsets

Key findings of the study include a noticeable decrease in financial security among affluent Americans.

Did ETF Investors Profit from Hamas Attack?

A U.S. professor stands by his research showing there was a spike in short selling of an Israel ETF leading up to the attacks. The Tel Aviv exchange says the research is inaccurate.

Ex-Wells Fargo CEO Sues Bank For $34 Million In Withheld Pay, Stock

The former CEO says the bank canceled stock awards and withheld a bonus he had earned before stepping down.

Black Swan Fears Drive Caution, Plus 60/40 Three-Decade Performance

VIX sees record trading as looming economic and geopolitical risks keep investors cautious about a potential return of volatility.

Carson Group: Still Too Few Women in Wealth Management

Its latest report confirms the industry has made little progress in gender diversity despite a lot of talk.

Supreme Court Seems Wary of SEC’s In-House Tribunals Without Juries

The Supreme Court discussed a case involving a hedge fund manager in which the SEC brought a civil enforcement proceeding that charged he mislead investors.