San Diego Fintech Startup, Advice Analytics, Strives to Unlock $300 Billion in Retirement Assets with The Brink SBDC’s Guidance
With The Brink’s one-on-one consulting and resources, Jerry Yen of Advice Analytics, raises close to $1 million in investment capital
“Our recent win in Seattle started right here in San Diego, through this Brink SBDC and it’s programs,” says Jerry Yen, founder and CEO of San Diego Fintech startup, Advice Analytics.
Like many other entrepreneurs, he had many ideas for a business. Yen expresses, “It took a village to really hone out the few key, more focused ideas that had a bigger impact. That process could not have happened without individuals like my Brink advisor Benton Moore, as well as the process that you go through with The Brink at USD. Getting everyone involved and multiple mirrors to tell you the truth about your idea, your process, and how you’re going about it is so useful.”
Yen was first introduced to The Brink SBDC at the University of San Diego by Brink consultant, Benton Moore. At first, he was unsure how to leverage the resources of The Brink, but after giving it a shot with some initial meetings and trainings, was very happy he got involved.
Through The Brink, Yen had one on one consulting meetings with his advisor, and competed in the San Diego Angel Conference. The first few consulting meetings had topics that were rather foreign to him in regards to raising capital. Yen understands the challenges founders are up against and the steep learning curve starting a business presents.
“When you start learning something for real, you realize how little you know. And the more you learn, the more you realize how little-er you know,” Yen admits.
He took all the knowledge learned from The Brink SBDC and experience from the San Diego Angel Conference, to the 18th Seattle Angel Conference. Advice Analytics became the first non-Seattle startup to win, and won $270,000, one of the highest prizes in the history of the Seattle Angel Conference. This win helped them close a total of nearly a million dollars in investment.
Yen attributes much of his success and growth to The Brink. He describes the team at The Brink as having humble candor, honest caring, and that “There is an authenticity across The Brink. Everyone is very authentic about their approach – and hard truths a founder has to hear.”
To Yen, The Brink has been great at bringing in different kinds of speakers, and speakers at different levels that have helped him learn and grow in his journey. Yen states graciously, “I can’t help but greatly appreciate what Mysty Rusk (Brink SBDC founding director), Benton, and everyone has done at The Brink to offer those resources and diversity of ideas and thinking in the process.”
What’s next for Advice Analytics?
Advice Analytics’ has two priorities, to build and sell. They have a grand vision of a $300B increase in annual retirement savings for 100 million every day American workers, and are going to continue down that track and constantly refine their practices on how to build and sell, faster, bigger, and better.
A piece of advice Yen would like to tell aspiring entrepreneurs is, “Don’t be shy about embarrassing yourself. Put yourself up front. Get comfortable with getting uncomfortable. Talk to everyone. Absorb what lessons make sense for you and your business and then create your narrative. Do better, faster. As long as you have a mindset of networking and talking to others, both founders as well as mentors, the learning is incredible.”
Watch the full interview to hear more about Advice Analytics’ success.
About Advice Analytics
Advice Analytics uses predictive compliance to unlock $300 billion in retirement assets for 100 million American workers. They were founded in 2019 on the idea that they could streamline the process of regulatory compliance paired with an easy to use interface. Thus, creating a platform with the ability to streamline the management of 401(k) plan compliance in order to help secure the retirement futures of American workers. They have been a client of The Brink SBDC at the University of San Diego since 2019.
Check out the original article and more resources on USD’s Business News.
