ActiFi back in the black

by Mike Bollinger


ActiFiMost small business owners, advisors, and consultants are all to familiar with the gap that exists between their vision for their organization and the steps required to execute on that vision.

Plymouth-based startup ActiFi wants to close that gap, specifically for advisors in the financial services industry.

Through an enterprise SaaS + consulting hybrid model, ActiFi offers what they call “business-execution software” to help financial advisors (and their parent institutions) focus on the things that matter most. Their software provides diagnostics, planning, and accountability tools to make advisors more efficient, maximize organic sales opportunities, and increase productivity and profits.

While the last few years have invariably brought hard times across the industry as a whole, things are looking up as the venture recently raised more capital and are now exploring office space in California to accommodate three new customers in San Diego. ActiFi currently has a satellite offices in Dallas, a small presence in New York and are hiring for a VP of Engineering role locally.

“This year has been a phenomenal for us,” said founder and CEO Spenser Segal. “We got whacked by the 2008/2009 downturn given that our clients were all financial institutions, but interestingly it brought us a lot closer together as a team. We kept the band together, nobody left, and now we’re seeing great growth again in all areas of our business.”

Segal, previously a Vice President at American Express, says the idea for ActiFi was borne out of his time spent with various financial orgs where he found there was a huge void between what the company knew needed to be done and the wherewithal to execute that in a scalable and efficient way.

Launched in 2003 with a small round of funding from industry angels, the firm has pivoted a few times as they worked to find their product market fit. The original software was designed to model workflows for advisors, but struggled to realize strong profit given competition from exiting CRM systems that were offering similar functionality bundled with their systems.

The key was found in changing perspectives to help advisors manage the process by which they garner new business. “We are the best in the world at translating high-level business objectives for advisors and breaking those down into detailed executable tasks,” said Spenser. “We connect the vision to the execution.”