A Personal Finance Revolution
“It will take a long time to fix our financial system. But the glacial pace of that change should not prevent you from looking after your own self-interest.”
—John Bogle
Despite a number of improvements over the past decade or so, most retail investors remain at an inexcusable disadvantage when it comes to navigating an industry too-often focused on selling commission-based products. This position is made worse by a muddled regulatory landscape and a lack of powerful financial planning tools available to regular folks.
The world is changing, and fast. As the internet continues to democratize knowledge and resources, people are becoming increasingly independent and diligent across all manners of disciplines. With teenagers trading options from their pocket and leveraging social media to sabotage political campaigns, we’re just beginning to see what it means for a generation to grow up with global resources and unlimited information at their fingertips.
“...it’s becoming increasingly difficult to distinguish the finance pros from the industrious amateurs. And it’s a curious fact that the latter group frequently has better ideas.”
Being a subject matter expert—or simply an informed consumer—doesn’t mean what it used to. Bogleheads. YouTube. Reddit. The best expertise is freely available to those that know how to parse it. In turn, the information advantage historically enjoyed by professionals is shrinking. For every charming salesperson recommending load funds and variable annuities, there’s a growing number of 20-somethings extolling the virtues of passive, low-maintenance DIY portfolios, and actively avoiding financial advisors. An objective observer will find that it’s becoming increasingly difficult to distinguish the finance pros from the industrious amateurs. And it’s a curious fact that the latter group frequently has better ideas.
At this point, we believe the future is undeniable: the personal finance industry needs to evolve to serve the needs of an increasingly engaged and informed public. The first step is to make professional-grade financial planning software available to everybody. These types of tools are as inevitable as they are empowering. We should know—we’re building them right here.
