Earned, a financial services firm focused on healthcare professionals, has acquired PearsonRavitz, an Ardmore, Pennsylvania-based firm specializing in disability and life insurance for physicians. This strategic move is intended to enhance Earned’s integrated financial platform and expand its service offerings.
The acquisition adds PearsonRavitz’s insurance solutions, 5,500 clients across various medical specialties, and 20 experienced employees to Earned. With this integration, Earned now serves more than 13,500 healthcare professionals and practices nationally, strengthening its presence in key markets including Pennsylvania, California, Texas, New York, Ohio, Florida, Illinois, and Massachusetts.
John Clendening, Founder and CEO of Earned, stated that PearsonRavitz brings expertise in physician-specific disability and life insurance, a service he noted clients critically need. He highlighted PearsonRavitz’s foundation by a physician for physicians, which provides first-hand knowledge of healthcare professionals’ specific insurance coverage requirements. Clendening expressed honor in having Dr. Stephanie Pearson and Scott Ravitz, co-founders of PearsonRavitz, and their team join Earned to strengthen the value proposition for physicians and practices.
Dr. Stephanie Pearson, a trained obstetrician-gynecologist, co-founded PearsonRavitz in 2017 after experiencing a career-ending shoulder injury that prevented her from continuing to practice. This personal experience motivated her to educate physicians about disability insurance, aiming to clarify options, demystify policies, and help them avoid common mistakes to safeguard their livelihoods.
Scott Ravitz partnered with Dr. Pearson, combining her direct understanding of the physician experience with his extensive insurance knowledge and market insight. Together, they developed PearsonRavitz to guide medical professionals through complex insurance decisions.
Dr. Pearson commented that PearsonRavitz clients have relied on the firm’s insurance expertise within the complex healthcare industry. She added that joining Earned enables them to offer clients a broader suite of financial and advisory services, including wealth management, tax, and practice services. Dr. Pearson will join the Earned executive leadership team as CEO and Insurance Advisor for the PearsonRavitz Division, continuing her role as a physician disability and life insurance broker and advocate.
Scott Ravitz noted that PearsonRavitz had reached a pivotal point for expansion over the past eight years. He described the integration with Earned as mutually beneficial, allowing Earned to offer disability and life insurance for the first time while providing PearsonRavitz’s client base immediate access to additional financial services. Mr. Ravitz will join the Earned executive leadership team as President and Insurance Advisor for the PearsonRavitz Division.
Earned’s comprehensive model integrates wealth management, tax preparation and planning, retirement plans, accounting, payroll, and practice-specific financial guidance for healthcare professionals such as physicians, dentists, behavioral health therapists, and veterinarians. The firm emphasizes combining client service with technology to deliver personalized support tailored to clients’ unique career-driven financial circumstances and goals.
This acquisition represents Earned’s fourth strategic acquisition since its $200 million capital commitment from Summit Partners and Silversmith Capital Partners in July 2024. Previous acquisitions include Thomas Doll, a financial services provider for physicians and dentists; Chahal & Associates, an accounting firm for small businesses and physician practices; and Schwartz & Schwartz, a tax, accounting, and payroll services provider for physicians and healthcare practices. The addition of PearsonRavitz aligns with Earned’s strategy to acquire financial services firms aimed at expanding helpful services and improving financial outcomes for healthcare professionals and their practices.
