They offer financial advice targeted at those who are not amongst the ultra-high net worth individuals (UHNWIs).
When their friends kept complaining that investing is a such as big hassle, founders of crowd-wisdom investing platform Advantedj realised the urgent need to come up with an innovative solution. They identified a huge gap in the market for high-quality advice targeted at those who are not ultra-high net worth individuals (UHNWIs), and thought of a way to leverage common financial wisdom while providing expertise to busy professionals.
Kelvin Goh, chief executive officer and founder of Advantedj, says that although his friends know that it is important to invest and grow their savings, their jam-packed schedules do not permit them to diligently catch up on trends and invest by themselves. “At the same time, they are sufficiently astute to know that when they go to a bank, they face significant conflicts of interest, and high fees. They also get frustrated with junior relationship managers who often don’t know any more than the customer themselves. They hear about hedge funds and private equity, but they don’t have enough money to get in – those are reserved only for UHNWIs,” Goh says.
Goh and his colleagues at Advantedj thought there must be a balance somewhere, and that the usual response to opt-out and put savings in passive investments is not the best solution. With a lean budget, their fields of expertise and some technical help from Rainmaker Labs, Advantedj’s four founders embarked on a startup journey to bring investing closer to everyone.
“We make investing simple, by tapping into the wisdom of the community to uncover insights and themes. These are expressed as an investible mini-portfolio of relevant stocks, which we call an Edj (pronounced “edge”). To improve the signal-to-noise ratio, our team of professional financial analysts vet each Edj for quality, so that you receive only the best curated advice,” Goh adds.
Advantedj provides a win-win situation for both its clients and contributors. It is especially unique from other platforms in that it allows its clients to invest with zero conflicts of interest with any financial institution, 100% transparency, and fair and affordable pricing based solely on performance. Meanwhile, their contributors can build their track record, reach out to a wider audience, and earn additional income.
Not only that, Goh and his colleagues have gone the extra mile to be involved in the process. In fact, to verify the challenges and problems faced by the target users of Advantedj, each of the team members would play the role of a bank client at different banks at different locations. They would walk into each bank branch and inquire about investments into bonds, stocks, unit trusts and structured products. This way, their product also gets to have a boost.
“We are currently in discussions with various brokerage firms to offer execution services. The collaboration will lead to savings and convenience for Advantedj subscribers, who will be able to identify, subscribe for, and implement the Edj investment strategies on a single platform seamlessly. Meanwhile, Advantedj will expand to include stocks traded on the exchanges of Hong Kong, London, Paris and Frankfurt, and also expand to include FX trading strategies,” Goh adds.
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