Plumb Interview with The Deal

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We are excited to announce that our Executive Vice President, Anneke Stender, recently sat down with The Deal’s Chris Nolter to discuss Think Plumb LLC’s remarkable growth and future outlook.

View the full article here: 2025 The Deal Plumb Interview.

Link to article on The Deal website.

Founded in 1996 by President Robert Scherer, Think Plumb has evolved into a premier high-touch, services-first fintech company specializing in financial management for high-net-worth individuals and family offices. With a workforce of 50 employees and an annual revenue ranging from $8 million to $10 million, Think Plumb continues to experience double-digit growth, positioning itself as a leader in the financial management space.

Managing Financial Complexity with High-Touch Services

Think Plumb is uniquely positioned to help affluent clients manage the complexities of wealth, including multiple residences across different states, trusts, LLCs, foundations, and other entities.

“We call it the blocking and tackling that needs to happen around the family,” Stender explained. “Our clients require specialized accounting services, from property tax management and insurance payments to real-time financial reporting.”

Leveraging Technology for Real-Time Financial Insights

Recognizing the growing need for seamless and intuitive financial management, Think Plumb has invested in building out its proprietary technology platform, the Plumb Bill Pay App. The platform integrates bill approval, payment automation, and real-time reporting capabilities, ensuring clients have an interactive, forward-looking view of their financial health.

“Historically, accounting has been very backwards-looking,” Stender said. “Now, we’re really moving toward real-time reporting, interactive insights, and even projections within our tool.”

A Growth Trajectory with Expanding Market Opportunities

Plumb’s primary clientele typically consists of individuals with a net worth between $50 million and $400 million, including five billionaire family offices. However, the company is looking to expand into a new demographic of emerging high-net-worth individuals—those with a net worth of $1 million or more—who require sophisticated financial tools and bill payment services.

While 90% of new business comes from referrals, Plumb is continuously exploring new opportunities to enhance its reach and impact. With the addition of a Chief Technology Officer last year, the company is advancing its fintech capabilities while maintaining the high-touch, white-glove service that has made it a trusted partner for affluent families.

Open to Strategic Partnerships

As Plumb scales, the company is open to strategic partnerships that align with its vision for innovation and growth.

“We’re certainly open to strategic partnerships as we continue to grow in this space,” Stender noted. However, there is no defined timeline for taking on an investor or partner.

A Unique Approach in Fintech and Financial Management

Plumb stands out in the financial services industry due to its seamless blend of high-touch services and innovative financial technology. The firm’s approach ensures that clients receive both personalized attention and cutting-edge solutions for managing their financial complexity.

The broader fintech and wealth management industry has seen increased investment activity from major financial institutions. Recent investments include:

  • Blackstone Inc. (BX) leading a $61 million investment in AI accounts payable automation company Sampli.
  • BlackRock Inc.’s (BLK) Aladdin Wealth unit forming a partnership with NEC Corp.’s Avaloq.
  • JPMorgan Chase & Co. (JPM) and Hercules Capital Inc. (HTGC) investing $150 million in payables automation company Tipalti.

While investment and acquisition activity in fintech and financial/wealth management continue to accelerate, Plumb remains focused on expanding its services and technology to better serve its clients.

Looking Ahead

As Plumb continues its upward trajectory, the company remains committed to innovation, client service, and growth. By enhancing its proprietary technology, expanding service offerings, and strategically scaling its team, Plumb is well-positioned to meet the evolving needs of high-net-worth individuals and family offices.

Future initiatives include further integrating predictive financial analytics, improving user experience within its platform, and expanding its reach to serve a broader spectrum of clients. With a clear vision for the future, Plumb is dedicated to setting new industry standards and delivering unparalleled financial solutions.

Stay tuned for more updates as we continue to shape the future of high-net-worth financial management.

For inquiries or to learn more about how Plumb can support your financial needs, contact us today!

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Plumb Bill Pay Shortlisted for 2025 Citywealth Awards

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We’re thrilled to announce that Plumb Bill Pay has been shortlisted for the 2025 Citywealth Magic Circle Awards in two highly competitive categories:

  • UHNW Private Client Services of the Year
  • Technology Innovator of the Year

These nominations are a testament to our unwavering commitment to excellence in serving ultra-high-net-worth clients. At Plumb Bill Pay, we pride ourselves on delivering precise, secure, and innovative financial management solutions tailored to the unique needs of ultra-high-net-worth individuals and family offices. Our goal is to simplify complex financial lives through a combination of cutting-edge technology and personalized, white-glove service.

Setting the Standard in UHNW Client Services

In the world of UHNW financial management, trust, accuracy, and efficiency are paramount. Our dedicated teams ensures every client receives bespoke solutions that address their specific needs, from bill payment to financial reporting. Being recognized in this category underscores our position as a leader in providing comprehensive and reliable services to ultra-high-net-worth clients.

Driving Innovation in Fintech

The Technology Innovator of the Year nomination highlights our role in advancing technology-driven financial management. Our proprietary systems and processes are designed to enhance security, improve efficiency, and offer unparalleled transparency for our clients. We’re proud to be at the forefront of innovation, setting new standards in the fintech space.

Thank You to Our Community

We want to extend our heartfelt gratitude to our clients, partners, and team. Your support and trust drive us to continuously improve and deliver excellence in everything we do. It’s an honor to be recognized alongside other leading firms in the industry.

Stay tuned as we await the results!

Top 5 Questions Our Clients Ask About Outsourced Bill Payment

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Outsourced bill payment services are increasingly favored among ultra-high-net-worth individuals (UHNWIs), high-net-worth individuals (HNWIs), and family offices. These services not only streamline financial management but also enhance cash flow management and reduce administrative burdens. Here are the top five frequently asked questions we receive from clients interested in our services:

  1. What security and fraud prevention measures do you have in place?

Security is a top priority for us at Plumb. We leverage advanced security protocols, including encryption, firewalls, data backup, and fraud detection mechanisms. Through our proprietary Plumb Bill Pay App, we conduct vendor verification through OFAC checking, new vendor warnings, and email whitelisting. Our commitment to safeguarding your financial information is further reinforced by bank-level security, multi-factor authentication, and stringent internal controls, all designed to prevent unauthorized transactions.

  1. What services do you offer?

Our offerings include bill payment and record keeping, cash flow reporting, expense tracking, vendor management, and financial reporting. Using our secure personal bill pay services, including our proprietary Plumb Bill Pay App, your bills are monitored for discrepancies, tracked closely and reconciled accurately. We have award-winning expertise – and an app that provides comprehensive personal bill pay services.

  1. What does the Plumb Bill Pay App do and is it secure?

Our proprietary platform, the Plumb Bill Pay App, is designed for affluent clients to streamline bill approvals, provide real-time financial insights, and ensure secure access anytime, anywhere. The app is continuously being enhanced and now guides new clients through the onboarding process as well. Additionally, the app seamlessly integrates with QuickBooks Online software to process payments and employs bank-level security to ensure secure transactions.

  1. How do you ensure accuracy and timely payments?

At Plumb, we utilize automated payment scheduling and multi-level approval workflows to ensure precision. We conduct multiple levels of approvals prior to a bill being paid, guaranteeing complete accuracy. Our Commitments tracker within our app includes built-in reminders for upcoming payments and proactive monitoring to prevent late payments and errors. Additionally, all of our bill entry forms feature built-in error detection and validation to ensure accuracy from the very start. You can trust Plumb to handle your financial transactions with the highest level of care and reliability.

  1. What level of customization and reporting do you provide?

Customized reporting is available in addition to our slate of popular weekly and monthly reports.  We offer tailored approval workflows, spending limits, and role-based permissions. Additionally, our robust reporting capabilities include real-time financial insights, categorized expense tracking, and integration with accounting or financial management platforms. We provide the level of visibility and control you require.

Outsourced bill payment services provide significant benefits for UHNWIs, HNWIs, and family offices. By choosing Plumb, you can be confident that your financial transactions are handled with the highest level of security, accuracy, and customization. Our tailored solutions ensure your unique financial needs are met with precision, giving you peace of mind and more time to focus on what truly matters. Let us help you streamline your financial management and experience the convenience and reliability of Plumb’s expert services.

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Plumb Bill Pay Shortlisted for Three Prestigious PAM Awards

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We are delighted to announce that Plumb has once again been shortlisted for the highly respected 2025 PAM (Private Asset Management) Awards. This year, we are honored to be recognized in three categories:

  • Best General Ledger System
  • Best Partnership Accounting System
  • Best Technology Platform for Family Offices

We extend our warmest congratulations to the other nominees who continue to drive innovation and excellence in our industry. A heartfelt thank you goes to the team at WithIntelligence and the PAM Awards for this incredible recognition.

At Plumb, we remain dedicated to providing financial clarity and seamless accounting services, empowering our clients to make informed decisions with confidence. This honor inspires us to continue exceeding expectations and setting benchmarks for the industry.

Stay tuned for the awards results, and thank you for supporting Plumb on this exciting journey!

Discover how Plumb Bill Pay consistently delivers best-in-class service below:

Plumb Bill Pay Featured in the 2024 US WealthTech Landscape Report

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We are thrilled to announce that Plumb Bill Pay has been included in The Wealth Mosaic’s US WealthTech Landscape Report 2024! This recognition demonstrates our commitment to delivering innovative, high-touch financial services that simplify life for our clients.

The WealthTech Landscape Report highlights leading solutions that empower wealth managers, family offices, and high-net-worth individuals with technology-driven services to streamline financial operations. At Plumb Bill Pay, we pride ourselves on blending technology with personalized support to ensure seamless, secure, and efficient bill payment management.

Our inclusion in this prestigious report affirms the value we bring to the financial management ecosystem. From managing complex financial workflows to providing clear reporting and reducing administrative burden, Plumb Bill Pay continues to be a trusted partner for those seeking financial clarity and operational excellence.

We extend our gratitude to our clients and partners for their ongoing trust and support.

To learn more about Plumb Bill Pay and how we can help simplify your financial life, contact us today at sales@thinkplumb.com.

Plumb Bill Pay App: New Onboarding Module

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Plumb has enhanced its proprietary bill pay and reporting web application by introducing an innovative Onboarding Module. This improvement significantly boosts the accuracy and efficiency of our client onboarding processes, resulting in improved client service.

 

For the Plumb team, this means that the onboarding process can be completed more quickly and accurately, thanks to a streamlined workflow that is aimed at unifying and tracking onboarding tasks, enforcing consistency, and reducing errors. We’re able to focus on delivering exceptional support to our clients, while minimizing delays and inefficiencies.

 

With the new Onboarding Module, clients now can input onboarding-related data directly into the application, further streamlining the process. An easy-to-navigate wizard takes them through each step of the data gathering process, allowing them to save their progress and return at their convenience. Within the system, clients have visibility to all onboarding tasks at their fingertips. By clicking the link in their Weekly Status Report email, clients can access the system to view completed and in-process tasks assigned to them and their Plumb team. A checklist and progress indicator shows clients where they are in the onboarding process and their percentage toward completion. Additionally, with our onboarding data upload feature, clients can securely upload all onboarding-related data in a central location.

 

Our onboarding feature is integrated with the Plumb Bill Pay app, and at the end of the onboarding process the client seamlessly transitions into active client status.

 

Overall, the new Onboarding module represents a significant enhancement to our web application, one that improves our internal processing, and enables our clients to directly engage with the process. Rob Scherer, CEO of Plumb says, “We wanted to create a worry-free workflow, ensuring all aspects of the client onboarding are accurately processed in a timely manner. We also wanted to empower our clients to provide data directly into the process to improve efficiency, while keeping our experienced staff just a click or phone call away if questions arise.”

 

At Plumb we constantly strive for innovation, and we are looking forward to the success that our Onboarding Module will generate!

 

With Plumb you can have access to your bill pay data – anytime, anywhere. Contact us at sales@thinkplumb.com to learn more about our bill pay app and how Plumb can help you and your clients focus on the big picture, while we focus on your bill pay and accounting needs.

Plumb Welcomes George Logemann as New Chief of Technology Officer

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We are thrilled to share that Plumb has appointed George Logemann as our new Chief Technology Officer (CTO). George joins our team with extensive experience in financial technology and a fresh perspective that will drive our company to greater heights. As a key member of our leadership team, George will play a central role in shaping and implementing our technology vision here at Plumb. George will lead software development, focusing on multiple phases of strategic enhancements and innovations aimed at delivering exceptional value to our clients.

plumb new chief technology officer
George Logemann, CTO

With three decades of expertise in building financial technology for investment and wealth management enterprises, George’s background is impressive. Notably, he dedicated over 13 years to Citadel, a leading hedge fund in the US. At Citadel, George held various pivotal roles, including CTO and COO of Global Commodities, overseeing trading and risk technology as well as operational aspects for the firm’s commodities strategies. He also spearheaded the creation of Citadel’s firm-wide back office platform, capable of capturing millions of daily transactions and supporting all portfolio management, operations and accounting processing. Beyond Citadel, George has dedicated several years to crafting cloud-based aggregation and operational workflow solutions for the financial advisory sector.

George’s extensive background in financial technology and operations makes him a valuable addition to Plumb. We anticipate leveraging his leadership and experience as we develop our comprehensive technology strategy and deliver top-tier solutions for our clients. As CEO and President Rob Scherer shares, “George brings such a cool edge and innovative creative process to our team. I am excited to see how he can expand the app and guide our technology team to new levels.”

George has already embarked on this mission by beginning to evolve our Plumb Bill Pay App into a comprehensive, interactive financial data platform. This expansion aims to offer clients not only convenience but also valuable insights and interactive reporting features that empower them to take control of their financial health.

Unlike static reports, interactive reporting will allow clients to engage with their financial data dynamically. Plumb is utilizing a scalable data warehouse, Snowflake, in tandem with the Plumb Bill Pay Application platform to obtain and pull from client data, offering robust reporting and significant insights. The enhanced platform will enable clients to gain intuitive access to their information, customize dashboards, visualize trends, predict future cashflows, and receive real-time alerts and recommendations.

By transforming the app into a multifaceted data insights tool, we are not only enhancing its value proposition but also helping users gain a deeper understanding of their finances. This initiative will set a new standard in the fintech industry, demonstrating how technology can be harnessed to provide meaningful and interactive financial insights.

As we embark on this exciting journey, we are confident that George’s vision and expertise will enhance our technological capabilities, foster a culture of innovation, and propel us toward achieving our strategic goals.

George shares, “Plumb’s leadership team cares about providing a high-quality client experience, and they have outlined an innovative strategy. I am very excited to engage in this endeavor to help shape the future of the application suite and build solutions that will set us apart from other providers.”

We look forward to the positive impact George will make and the advancements we will accomplish together.

Join us in welcoming George to Team Plumb and click here to read more about George and the work he has accomplished already here at Plumb!

Plumb Placements for 2024 Citywealth Magic Circle Awards

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Plumb is proud to announce that we’ve placed in two categories for the 2024 Citywealth Magic Circle Awards:

  • Technology Innovators of the Year (Winner)
  • UNHW Private Client Services of the Year (Runner Up)

The Magic Circle Awards recognize the accomplishments of professionals and firms working with high-net-worth individuals and families. The awards are presented in London in front of an esteemed audience comprised of over 400 professionals representing over 140 diverse organizations.

Following a rigorous submission process, the submissions are assessed and judged by a panel of private wealth advisors. Online voting is also open to the public, and counts for 10% of the final award vote.

Our proprietary Plumb Bill Pay App is a big reason we have been included in these awards. To learn more about our services and our Plumb Bill Pay App, please watch this brief overview video and reach out to schedule a personal demo.

Plumb delivers financial peace of mind by assisting high-net-worth individuals and family offices know where their money is going, so their trusted advisors can effectively manage it. We work in partnership with their team — including wealth, CPA, and other advisors — to provide the highest quality of data and financial reporting to establish a holistic view of their assets and financial holdings. We’d love to help answer any questions you may have. Feel free to schedule time to speak with Anneke Stender, our EVP, at your convenience.

Expense Tracking for Wealthy Individuals: Tools and Strategies for Comprehensive Financial Oversight

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For high-net-worth individuals, managing finances extends beyond simply tracking income and expenses. It’s about gaining comprehensive oversight of a complex financial landscape that may include investments, trusts, real estate, and more. In this context, meticulous expense tracking becomes an essential tool for informed decision-making, optimizing wealth preservation, and achieving financial goals.

 

Let’s start with the basics. Why track expenses?

 

Expense tracking for wealthy individuals offers several unique advantages:

 

  • Identify spending patterns. Track where your money goes, from regular bills to occasional indulgences. This reveals areas for potential cost-cutting or strategic reallocation of funds.
  • Monitor asset performance. Track the specific expenses related to various assets like vacation homes, yachts, or art collections.
  • Inform investment decisions. Understanding spending habits can help to guide investment strategies. If you know how – and how much – is being spent, you can better determine the types of investments you should be making.
  • Catch mistakes before they happen. With exact and itemized expenses, it’s easy to spot something that doesn’t look right.
  • Ensure tax compliance. Accurate expense records are crucial for tax preparation and audits, especially for charitable giving. When expense tracking is set up properly it can help save both time and money with tax preparation.
  • Achieve financial goals. Tracking expenses against set goals, like saving for a second home or philanthropy, keeps you on track.

 

There are also a few effective expense tracking strategies that we suggest to all our high-net-worth clients.

 

  • Set clear goals. Define your financial objectives and tailor your expense tracking to monitor progress towards them.
  • Choose the right tools. Select a tool that aligns with your needs, preferences, and level of financial complexity. For example, the Plumb Bill Pay app is a great tool for providing clarity into finances.
  • Categorize meticulously. Create custom categories to accurately reflect your spending patterns and identify areas for improvement. At Plumb, we create the categories that best suit our clients’ needs so they can see their expenses exactly how they want to see them.
  • Review regularly. Schedule regular time to analyze your spending data and identify trends or areas for adjustments. Plumb provides customized reporting to our clients, as frequently as they need, with as much detail as they want.
  • Seek professional guidance. Consult a financial advisor or wealth manager for personalized recommendations and strategies, and seek outsourced bill payment and accounting support – like the experts at Plumb – to ensure effective management of your expenses.

 

Remember, expense tracking is about gaining valuable insights into your financial behavior, making informed decisions, and ultimately, achieving your long-term financial goals. By embracing effective tracking strategies and utilizing the right tools, wealthy individuals can transform expense management from a chore into a powerful tool for financial empowerment.

 

Take the Next Step Towards Financial Ease and Clarity: Experience the benefits of secure and streamlined expense management. Contact us at sales@thinkplumb.com to discuss how our outsourced bill payment services can enhance accuracy, save time, simplify record-keeping, and reduce stress, and fortify the security of your financial transactions. Your peace of mind is our priority.

Time is Money: The Power of Bill Payment Apps

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Traditionally, bill payment involved manual processes, requiring individuals and advisors to gather bills, write checks, and track payments meticulously. For HNWIs with complex investment holdings, this means dedicating considerable time and resources to monotonous administrative tasks.

 

Enter bill payment apps, which have transformed the landscape by offering intuitive platforms that centralize and automate the entire payment process. These innovative platforms are revolutionizing the way HNWIs and their advisors handle financial obligations, introducing efficiency and automation into a previously cumbersome process. These apps allow users to aggregate bills from various sources, including utilities, credit cards, mortgages, and subscriptions, into a single dashboard. Through secure integrations with bank accounts and financial institutions, bills are automatically retrieved and presented for review, eliminating the need for manual data entry.

 

The Plumb Bill Pay app is the perfect example of a game-changing app, and was developed and built exclusively by Plumb to address the issues and challenges faced by our high-net-worth clients and their advisors.

 

Here’s how bill payment apps, and the Plumb Bill Pay app in particular, save HNWIs and advisors precious hours:

  • Streamlined Workflow: Bill pay apps automatically categorize, prioritize, and schedule bills for payment. This ensures timely settlements without the need for constant oversight, eliminating countless hours spent on paperwork and data reconciliation. Additionally, these apps offer customizable alert systems, notifying users of upcoming due dates, payment confirmations, and unusual activity, thereby enhancing transparency and security.
  • Enhanced Visibility: Gone are the days of scrambling for missing invoices or chasing down overdue payments. Bill payment apps provide real-time visibility into spending patterns and cash flow dynamics, offering personalized insights and recommendations, empowering users to make informed financial decisions. {Read about the Plumb Bill Pay app Commitments module and how it provides clarity and insights.}
  • Reduced Errors: Manual processing is prone to human error. Bill payment apps minimize the risk of mistakes with automated payments, ensuring accuracy and timely payments.
  • Improved Security: Traditional paper-based systems are vulnerable to fraud and theft. Bill payment apps offer robust security measures such as multi-factor authentication and encryption, to safeguard sensitive financial information. {Learn more about just some of the ways Plumb provides the most stringent digital security here.}
  • Advisor Efficiency: For financial advisors, managing bill payments for multiple clients can be a time-consuming burden. Bill payment apps allow advisors to delegate and automate tasks, freeing up their time to focus on strategic financial planning and client relationships.

 

Bill payment apps have emerged as indispensable tools for HNWIs and their advisors, offering unparalleled convenience, efficiency, and security in managing financial transactions. By streamlining the bill payment process, these platforms liberate valuable hours that can be redirected towards more productive endeavors, ultimately empowering individuals to achieve their financial goals with confidence and peace of mind.