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To add, the non tech crowd doesn't really know or have the time to learn about investing. They just need someone to manage their finances. The advisory professi
by deepGem 4y ago
To add, the non tech crowd doesn't really know or have the time to learn about investing. They just need someone to manage their finances. The advisory profession is alive mostly because of this. Instead of acting as a lead gen to advisors, perhaps you could add more value by doing some sort of filtering or match making based on user's data, totally at the discretion of the investor/user. This will be incredibly helpful. You could become some sort of a scaled arbitrage between investors and advisors - a huge gap that exists today.
- scubakid 4y agoSounds like an interesting model. I wonder if it would come with any regulatory hurdles in addition to the technical work plus efforts to make inroads with enough advisors... and then I wonder if there's a way to advertise that kind of optional product offering without immediately turning off the contingent of privacy-focused DIYers that the tool currently resonates with.
- deepGem 4y agoIf you decide to offer advisory services on your own, then yes there might be some regulatory hurdles. You are not going down that route. Match making should still be fine, am not sure. Agreed about turning off existing users, but you can carefully orchestrate this to help users find appropriate advisors as a completely opt-in service. I think you can find a scalable monetization model in match making. Not sure what your plans are, but yeah unlikely you'll be able to pull it off in solo mode. Totally impressed with what you have built.
- scubakid 4y agoThanks! I have loads of ideas for new features and things that will be fun to build; but I should probably at least take a breath sometime soon and contemplate all the possible paths. If you or others have any words of wisdom to share, I always enjoy hearing from other perspectives.
- deepGem 4y agoYep highly encourage to take a breath, at some regular cadence and contemplate on all possible paths. I don't know how to be effective at this though. You need some notion of feature management to accomplish this. I am looking to build a similar tool for engineers who are switching jobs and have multiple job offers. Essentially a financial projection of options 1, 2 and 3 taking into account inflation, location and salary growth. Happy to brainstorm and collaborate if you are up for it.
- scubakid 4y agoI'd be happy to chat if you like; feel free to message me on email/discord.
- Smithalicious 4y agoAre you implying that investing is something specific to "the tech crowd"?