According to a survey by Bank of America 77 percent of high net worth millennials own or are interested in...
Stash has quickly become one of the hottest fintechs and the company has seen continued success during the current pandemic;...
The wealth management industry has gone through a host of changes in recent years and now fractional share trading has...
Stash is now letting customers invest in single stocks as it looks to broaden their product offerings; the company allows customers to by portions of shares for a minimum of $5; the new offering allows investors to invest in single companies as opposed to single strategies as they have with themed ETFs; the average investor on Stash is 29 years old and has a household income of $45,000 a year. Source.
There is a growing trend in fintech that shows where the most disruption is happening, financial advice and management; while...
LendIt Fintech continues to connect the fintech community during these challenging times. In partnership with Plaid, our next webinar will...
In this conversation, we talk with Brian Barnes of M1 Finance, about finance “super apps”, the cost-efficiencies of robo-advisors, fractionalized share trading, and tackling the titans of the Wealth Management industry. We also discuss the nuts and bolts of the financial infrastructure making this possible.
M1 Finance bundles together roboadvisory, neobanking and lending into a single “super app”, allowing for combined pricing power (i.e., charging nothing on asset allocation). The firm currently has $3 billion in AUM, a growth of 50% in the past four months and tripling their total in just over a year. Notably, the company has its own broker/dealer and offers fractional shares, and partners with Lincoln Savings bank on the deposit accounts. That makes for a compelling business model from securities lending, interchange, and order flow.
Stash is fresh off a $37mn series D that will see the company double in size and expand into other banking products; the company helps customers invest on behalf of their kids; the typical Stash customer is 29 and makes $50k a year, they help them get more control of their financial lives and invest; “We offer education for these users to help them build the right financial habits from day one, and that doesn’t just stop at investing,” said founder and president Ed Robinson to TearSheet. “Our mission is to help our users throughout their whole financial lives.” Source.
LendIt Fintech continues to connect the fintech community during these challenging times; In partnership with Plaid, our next webinar will...
Stash has announced it is rolling out new features for its 3 million users; the app will now allow users...