Today, we want to cover two fairly new start-ups that have the potential to positively impact your bank accounts. At Cloud 9 Financial Consulting, we like to explore different options that may not be proven opportunities. Actually, the two companies that we are going to cover today were finalists in a disruptive competition (for start-ups) that happened in May. We think that they can help you in your goal of retiring, millionaires.
First up to the plate is, Plantly. According to their website, "Plantly is a web application that creates a diversified investment plan for you." It allows even the most common Internet users create customizable solutions for your investing needs. They start out by asking a few basic, but core foundation questions. Then proceed to finding investment vehicles that suit your answers. Plantly is originally meant for everyone and provides a sense of control even though they recommend investments by name. Their site is currently in Beta, and is not wide-open to the public just yet.
On deck is the groundbreaking, Betterment. Betterment, allows users a very non-confusing account, that accomplishes its goal of simplifying the investment process. It aims to revolutionize the current model of the institutional "savings account." To do this, the user can choose their asset allocation using a simple meter, and the back-end of the site purchases and sells securities according to your choice of allocation. Unlike Plantly, Betterment is a FINRA certified brokerage of investment securities. Meaning, that it sells instruments (stocks, bonds, mutual funds, etc.) through its site; Plantly makes you link accounts to an external brokerage firm. Our major con to Betterment is that users cannot personally choose what securities their portfolio consists of. However, with the returns that Betterment are promising, we don't see it as a major problem. Betterment does its job as a substitute for your savings account. With no hidden fees, no minimum balances, and the simplicity of its user interface, Betterment can easily blow-up into a multi-million dollar company.
We love the ideas behind both sites, and see potential for their future relevance as long as they hold true to their core values.
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