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Whom do you consider to be your competitors? The space of automated financial advice is becoming very crowded, but much of the focus so far has been on investm
by ryporter 10y ago
Whom do you consider to be your competitors?
The space of automated financial advice is becoming very crowded, but much of the focus so far has been on investments. Is it fair to say that part of your differentiator is that you aim to provide a holistic analysis of a family's entire financial situation?
- threefour 10y agoExactly: automated investing is crowded, but our holistic analysis is different. Besides LearnVest, there's PolicyGenius (https://www.policygenius.com https://www.policygenius.com) who does a good job evaluating your need for individual insurance products and then selling them. They don't do financial planning. Investment managers such as Personal Capital and Vanguard offer access to advisors if you meet a minimum of assets under management, but the advice is mostly about investing. SmartAsset and Nerdwallet are focused on content and calculators but have enough funding to move into planning in the future. Any of the following companies could move into our space, although they all have channel conflicts: Robo investors (e.g. Betterment), Insurance (e.g. Prudential), Banks (e.g. Wells Fargo), Financial planners (e.g. Ameriprise), Investment managers (e.g. Vanguard), Advisor-facing software (e.g. eMoneyAdvisor)