FinovateSpring 2013 / Jemstep
Presenter Profile:
How they describe themselves: Jemstep.com is an online investment advisor that is changing the way people plan and invest for retirement with an easy-to-use online service that helps them maximize their nest egg without undue risk. Using patented technology and proven portfolio management methodologies, Jemstep shows people exactly what to buy, sell, and hold in order to maintain the optimal portfolio for their retirement goals and financial situation. Providing the high-caliber, personalized advice that has traditionally been available only to wealthy investors, Jemstep empowers all investors to take charge of their retirement planning and invest with confidence.
How they describe their product/innovation: Jemstep Portfolio Manager is an easy-to-use online service that helps people lock in more money for retirement. It gets to know each person’s financial circumstances and preferences, and, in minutes: (1) Projects the amount of money their current portfolio will give them to spend in retirement; (2) Recommends a target portfolio optimized to generate more money; (3) Spells out an Action Plan detailing what to buy and sell in each of their accounts (including their 401k), helping them minimize taxes, reduce fund fees, and select top-quality investments; (4) Keeps people on track with continuous monitoring that watches for changes in their profile, portfolio, and the market and alerts them when it’s time to make a change.
Contacts:
Bus. Dev. & Sales: Simon Roy, President, simon@jemstep.com, 650-492-5642
Press: Suzanne Pallo, Sr. Director Marketing, suzanne@jemstep.com, 408-886-4137
Website: jemstep.com
Blog: blog.jemstep.com
Twitter: @jemstep
HQ Location: Los Altos, CA
Founded: January 2008
Product Demoed: Jemstep Portfolio Manager
Product Launch: January 30, 2013
Metrics: $10.5M raised in private funding; 22 employees; 10,000+ users totaling more than $1.5B in assets; pre-revenue; impending launch of subscription service – flat monthly subscription fee
- Key Executives
Kevin Cimring (Joint CEO), Michael Blumenthal (Joint CEO), Simon Roy (President), Matthew Rennie (CTO)
Key Stats
- Key Advisory Board Members
Dr. Jonathan Tiemann (Founder & President, Tiemann Investment Advisors, LLC), Professor Terrance Odean (Rudd Family Foundation Professor of Finance, Haas School of Business, University of California, Berkeley), Daniel Lionel Saksenberg (Actuary), Dennis Troper (Product Management Executive, Google)
- Key Partnerships
The Jemstep team developed the asset allocation mix in conjunction with Windham Capital Management. Windham Capital Management is a leading investment and wealth management firm that is widely known for its pioneering research and its impact on the way institutional investors manage investment risk to maximize returns. Jemstep uses CashEdge for account aggregation. CashEdge is the leading provider of aggregation solutions to financial institutions, including a majority of the nation’s largest financial institutions.