Core Insights - Aquilance has raised $16 million in funding from Ten Coves Capital, marking its first institutional capital raise in 39 years [1] - The company rebranded from My Accountant in 2021 and underwent a recapitalization with private individual investors [2] - Aquilance has been expanding its executive team with experienced professionals from wealthtech and banking sectors [3][4][5] Company Developments - John Carey was appointed as CEO in June 2024, succeeding Kenneth Eyler [3] - Kevin Reed joined as the first chief revenue officer in October 2024, focusing on branding and marketing for financial advisors [4] - Craig Setera was appointed as the first chief technology officer in 2024, enhancing the company's tech platform to serve clients with $10 million or more in assets [5] Client Base and Services - Aquilance primarily serves ultra-high-net-worth individuals, with a significant portion of business referred by financial advisors [6] - The company provides services such as bookkeeping, bill pay, investment, and entity accounting through financial advisors [6] - Aquilance aims to offer a high-net-worth money movement service similar to mobile banking apps for advisors and their clients [7]