United Capital’s client-experience platform is now being led by Rachel Schnoll. Schnoll made the switch to FinLife CX from Goldman Sachs, which bought United Capital for $750 million in July.
At the time the deal was announced, United Capital had about $23.4 billion in client assets in its RIA network. Its white-label wealth management platform, FinLife, had 46 RIA users with $25 billion in assets; today, it has some 50 users.
“This is just the start of the value and capabilities we will add to our offering by leveraging the scale and resources of Goldman Sachs. Rachel is ideally suited to guide FinLife Partners on the next stage of its evolution,” according to United Capital CEO Joe Duran.
Schnoll joined Goldman in 1999. She became a managing director in 2013 and served as head of Retail Product Strategy for Goldman Sachs Asset Management, which focused on the development of mutual funds, collective trusts and closed-end funds.
“With the closing of the United Capital acquisition, Goldman Sachs asked me about moving to FinLife,” Schnoll said in an interview with ThinkAdvisor. “I did some due diligence and really came to love the platform, which lets advisors maximize their practice for clients. It’s also a great way for me to keep working with financial advisors around a tool they can use to grow their practices.”
She is working closely with Mike Capelle, United Cap’s chief platform officer, and some 200 developers associated with Goldman Sachs.