Finovate Debuts: HedgeCoVest

The Finovate Debuts series introduces new Finovate alums. Today’s feature is HedgeCoVest, which demonstrated its Replicazor at FinovateFall 2014.

HedgeCoVestLogo

HedgeCoVest’s web-based tool enables users to replicate hedge fund investments in their own brokerage accounts. The platform is aimed at existing hedge fund investors, advisors, and retail investors seeking more flexibility.

The stats

    • $900,000 raised
    • 12 employees
    • Product launched in September 2014
    • 35+ hedge fund managers have signed up 
    • 50+ models coming in the next few months

Hedge funds vs. HedgeCoVest
While hedge fund returns can be impressive, investing in them is not always practical. To qualify, investors need to have a net worth of $1 million (excluding primary residence). Additionally, hedge funds have prohibitively high account and strategy minimums.

Investors also face liquidity restrictions, locking them into strategies, and there’s little transparency into strategy specifics.

In comparison, HedgeCoVest’s minimum is $30,000, and investors can allocate as little as $10,000 to individual strategies. Liquidating investments is easy, just one click. HedgeCoVest charges a flat fee of 2.5%, instead of the often-confusing legal, audit, and trade fees incurred with traditional hedge funds.

HCVHomepage

How it works
HedgeCoVest enables investors to automatically replicate real hedge fund portfolios in their own brokerage accounts, in real time. It does this using a trading technology called the Replicazor, which automatically mirrors hedge fund investments.

In milliseconds, the Replicazor registers a hedge fund trade and makes the same trade for HedgeCoVest clients.

The overview page (below) is used to search and compare available hedge fund models.

HCVSearchModels

Users select a model for an in-depth view of the strategy. The overview tab breaks down the exact sector allocations, both long and short.

HCVSectors

Other tabs include statistics (shown below), real-time fund performance, and an About Us section that profiles the firm and person behind the strategy.

HCVStatistics

When the user finds a strategy they like, they select Invest Now, enter the amount to allocate, and choose their leverage. The Replicazor buys the securities into the brokerage account and tracks the holdings going forward.

By trading outside of the rigid hedge fund structure and requirements, HedgeCoVest opens hedge fund investing to a wider audience.

Check out HedgeCoVest’s debut of the Replicazor at FinovateFall 2014.

Alumni News– October 30, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgTemenos announces availability of its new mobile banking app.
  • Mitek reports more than 3,000 FIs have signed up for its mobile deposit solution.
  • BBVA Compass partners with Dwolla to bring real-time payments to bank customers.
  • Personal Capital announces $50 million series D round.
  • xconomy profiles anti-fraud innovator, Trustev.
  • Fiserv launches Popmoney for Disbursements.
  • Insuritas to open and manage turnkey insurance agency for Heritage Community Credit Union.
  • Knox Payments recognized in emerging startup category at Venture Forum RVA event.
  • Cardnotpresent.com features how SimplyTapp uses host card emulation (HCE).
  • Lendio partners with The UPS store to help SMBs.
  • Cardlytics pulls in $70 million in Series F round, prepares for IPO.
This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

HedgeCoVest Launches Investment Tool for Hedge Funds

HedgeCoVestLogo

This post is part of our live coverage of FinovateFall 2014.

HedgeCoVest showed how Replicazor can boost hedge fund performance:
“HedgeCoVest is an investment tool allowing you to mirror hedge fund investments in your own brokerage account. Using HedgeCoVest, you can research hedge funds, their risk/return profile, management team and more. Then, when you find a fund to mirror, you can allocate with the click of a button. 
Our proprietary trading technology, the Replicazor, sees hedge fund portfolios and duplicates them in your account in real time. Anytime your chosen fund makes a trade, the Replicazor will make a corresponding trade for you within milliseconds. No guesswork, no investing based on outdated reports. One-to-one tracking of real hedge funds.”
Presenting: Evan Rapoport, CEO and Aaron Wormus, CTO
HedgeCoVestHomepage
Product Launch: September 2014
Metrics: 12 employees, $900,000 raised
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B), through financial institutions, through other fintech companies and platforms, licensed
HQ: West Palm Beach, FL
Founded: April 2013
Twitter: @hedgecovest

FinovateFall 2014 Sneak Peek: Part 3

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Last week we took a look at 12 companies that will present at FinovateFall this September 23 and 24 in New York:

Today, we’re covering six more companies who will hint at what their 7-minute demo will reveal on stage. If you’re interested in seeing the full live demo, get your FinovateFall ticket here.


AlgomiLogo

Algomi

Features:
    • Aimed at financial markets trading
    • Finds trade opportunities on hard-to-trade items through its smart network
    • Connects the right organizations around trades 
    • Does not disclose sensitive franchise data
Why it’s great:

It’s a B2B inter-firm trading social network in high-value, professional financial markets
StuAlgomi

Presenters:

1) Stu Taylor, CEO
Named as one of the 40 most influential individuals in Fintech 2014 by the Wall Street Journal eFinancial News. Previously a managing director in trading at UBS.


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2) Usman Khan, CTO

Before co-founding Algomi, Khan was managing director at CapXD, a company he founded that sells technology solutions to investment banks.





Flexscorelogo.jpgFlexScore is the industry’s first personal financial health score that uses a patented algorithm and gamification to analyze your entire financial life and suggests ways to improve.

Features:
    • Sets up automated financial advice beyond budgeting and investing
    • Integrates with your financial institution’s products and solutions
    • Offers a digital engagement platform for customers and advisors
Why it’s great:
FlexScore simplifies financial planning for everyone and offers institutions a digital engagement platform that drives customer loyalty and profits higher.

JasonFlexScore

Presenters:

1) Jason Gordo, CEO
Jason worked as a financial advisor for thirteen years and co-founded an advisory firm that was recognized by Forbes as a top-fifty emerging RIA.
LinkedIn
JeffFlexScore

2) Jeff Burrow, President and COO

Jeff spent fourteen years as a financial advisor, working with foundations, retirement plan participants, and high-net-worth individuals. He co-founded an advisory firm with Jason Gordo.


HedgeCoVestlogo

HedgeCo Networks’ HedgeCoVest is the first investment platform to allow investors and advisors to mirror actual hedge fund portfolios into their individual brokerage accounts in real time.

Features:

    • Real-time performance and portfolio-monitoring tools
    • Easy-to-use platform to analyze hedge fund’s portfolios
    • Allocate/liquidate intraday with the ability to lever portfolios up or down
Why it’s great:
HedgeCoVest provides an easy-to-use, secure platform for investors to mirror actual hedge fund portfolios in real-time with liquidity, transparency, and simple flat fees.
297f765Evan

Presenters:

1) Evan Rapoport, Founder & CEO
Rapoport is the CEO/Founder of HedgeCo Networks who has been featured as a hedge fund expert on CNBC, MSNBC, FOX and leading publications.
AaronWormusProfile

2) Aaron Wormus, CTO

Wormus is the CTO of HedgeCoVest. Prior to HedgeCoVest, Mr. Wormus was the director of technical operations for HedgeCo websites & chief architect of the analytics suite, Hedge Fund Calculator.
LinkedIn

LinqtoLogo

Linqto lets you talk to your neighborhood banker, anytime, anywhere. Linqto’s Personal Banker delivers video-based, face-to-face transaction processing and communication with remote customers from any device.

Features: 
    • Instant, easy video connection from any device, website, or kiosk
    • Do-it-for-me transactions add security to mobile banking
    • One-to-many video feature provides cross-sell and social opportunities
Why it’s great:

Consumer trust in banks is at record lows. Linqto’s Personal Banker delivers the essential face-to-face human connectivity and relationship-building benefits your remote customers are missing.
Dune

Presenters:

1) Dune Thomas, Vice President of Mobile Banking Solutions
The innovation leader behind Personal Banker, Dune is also currently leading automation efforts for Linqto clients Digital Insight and NCR in the financial mobile-apps sector.
Bill

2) Bill Sarris, CEO

A recognized expert in the field of streaming and collaborative technology, Bill has delivered major enterprise software applications for Microsoft, Intuit, Digital Insight, NCR, Google and Stanford.



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Malauzai is designed for an exceptional user experience with superior economic value. SmartwebApps deliver the next generation of mobile banking by leveraging the power of an app-like experience on any device.

Features:
    • An app-like experience on any device, even the desktop
    • Responsive design and consistency across channels
    • More efficient and faster implementation
Why it’s great:

Internet banking is dead as you know it.
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Presenters:

1) Robb Gaynor, Chief Product Officer and Founder
Gaynor heads up the product development and marketing for Malauzai, focused on ensuring the company has solutions at the cutting-edge of mobile innovation.
DannyMalauzai
2) Danny Piangerelli, Chief Technology Officer and Founder
Piangerelli leads the technology team and is responsible for all aspects of Malauzai’s technology infrastructure.
LinkedIn

MyVirtualStrongBoxLogo

Virtual StrongBox is an online safe deposit box. Customers store important information for record keeping and disaster recovery. Nothing’s more important than trust.

Features: 
    • Encryption-at-rest for stored documents
    • Easy-to-use interface
    • Enterprise file exchange
Why it’s great:
Secure storage solutions are a valuable addition to the customer experience. Help your customers protect their important personal information with My Virtual StrongBox.
RonVirtualBox

Presenter:

Ron Daly, President and CEO
Daly knows a thing or two about digital communication and bottom-line performance. He is President/CEO of Virtual StrongBox and a former CFO of a $1.5 billion financial institution.

We’ll feature 6 more companies this Thursday in Sneak Peek: Part 4 so stay tuned.