I love it. Something like this is totally a step in the right direction. I think it would be far easier to excite people about investing if they have the option to buy a tenth a share of amazon. Especially if it’s free.
Now, the only thing left to do is create an API that can ask a client a risk questionnaire and recommend an asset allocation and security mix. Charge 5bps on it and call it a day.
We’d crumble the financial advice industry to it’s friggen knees.
Seems odd to me too. So your asset allocation in equity will be 1/50th a share of Amazon, 1/30th a share of FB, 30 shares of GE… That looks like a slow moving disaster becauase people have no idea what risks they own
The company I work for has some of Wall streets brightest minds building models for our clients - or rather we deliver the model to the client I guess. And anytime you have a client who can’t access that same model due to not meeting minimums we always have to use ETFs or mutual funds to fill the gaps.
With something like this, a minimum investment is a thing of the past. We could give a 25 thousand dollar client the EXACT same exposure that a 1.5 mill client can access via a rochdale model (God damn I hate those rochdale a holes too).
seriously dude, something like this is the last “infinity stone” we’re missing from the robo advisors “glove” from absolutely killing the financial advisor.