YourStake announced the acquisition of First Affirmative Financial Network and the relaunch of the registered investment advisory firm under the new name Formative. The transaction combines First Affirmative’s more than 35 years of operational and investment infrastructure with YourStake’s technology platform to create a comprehensive support platform for values-based financial advisors.
Formative will provide advisors with asset management capabilities, operational infrastructure, and community support while integrating YourStake’s technology platform to expand services across financial planning, operations, marketing, tax, estate planning, and private impact investing.
YourStake was founded in 2019 to help financial advisors implement values-aligned investing at scale. The company initially focused on impact analytics and personalized portfolio construction before expanding into a broader AI-driven advisor platform.
According to YourStake co-founder Gabe Rissman, advisors increasingly wanted a more holistic partner capable of supporting the entire client relationship. Rissman said the company expanded both deeply into values-based investing and broadly into advisor technology solutions in response to those demands.
YourStake will continue operating as an independent technology company serving the wider advisory market, with an information barrier maintained between YourStake and Formative. Co-founder Patrick Reed said Formative represents the company’s most comprehensive implementation of the YourStake platform, adding that workflows refined through Formative will improve the technology experience for all advisors using the platform.
First Affirmative was among the earliest adopters of the YourStake platform and spent more than three decades building values-aligned portfolio management programs for advisors and clients. The firm manages nearly $1 billion in assets and developed a reputation for mission-driven investment management and advisor community building.
The companies previously partnered on VADIS, a values-aligned direct indexing solution that has grown to $330 million in assets under management over the past two years. The collaboration helped establish the foundation for the acquisition.
Rissman said advisors consistently expressed interest in preserving First Affirmative’s culture and mission while gaining access to more modern infrastructure and operational support.
George Gay, who has served as CEO of First Affirmative since 1986, said the transaction strengthens the community’s ability to support advisors without compromising the firm’s long-standing investment philosophy and values-driven culture.
The newly launched Formative brand is intended to reflect both the legacy of First Affirmative and the transformational role advisors play in clients’ financial lives.
KEY QUOTES:
“Modern advisors strive to serve the needs of their clients across their financial lives, and we heard demand from our community for a holistic partner in that mission.
YourStake matured in two directions — deep and broad. We went deep in values-based investing with our collaboration with First Affirmative while building technology for advisors who wanted to offer the highest degree of personalization. And we went broad because advisors want more than a point solution. They need something that works across the full context of the client relationship.
First Affirmative created a community with real integrity and mission focus. Advisors consistently told us they wanted to preserve the culture but needed more modern infrastructure, more done-for-you support, and a cohesive platform to help them grow.
Formative is First Affirmative with fewer letters, but it also captures what we’re building. The advisors we serve build deep relationships rooted in their clients’ formative experiences. And the capital they steward can be transformative.”
Gabe Rissman, Co-Founder, YourStake
“Formative is our most comprehensive implementation of the YourStake platform. Every workflow we refine through Formative makes the technology sharper for every advisor using YourStake.”
Patrick Reed, Co-Founder, YourStake
“We haven’t wavered from the mission that has always defined this community. Now, we’ve enhanced our ability to deliver on it, giving advisors the modern infrastructure and support they need to grow without losing the investment expertise, culture, and values that brought them here.”
George Gay, CEO, First Affirmative Financial Network
