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Finovate Debuts: How DRAFT Offers Transparency into Investment Performance

DRAFTHomepage2

For average investors, understanding asset allocation, fees, and risk is cumbersome; but ignorance can be costly. DRAFT seeks to change that by offering a transparent, read-only view of existing investment funds. Its mobile app crowdsources data from other investors to empower users to make better decisions by better understanding their accounts.

DRAFTPerformanceOverviewDraft facts:

  • Raised $1 million seed funding
  • 10 employees
  • Waitlist of 9,000
  • Headquartered in Austin, Texas
  • Founded 2014

DRAFT’s mobile app targets millennials with $100,000 to $1 million to invest and are underserved by traditional financial advisers.

After connecting to bank and investment accounts, the overview screen compares their risk profile and equity positions against top-performing accounts (pictured right). Accounts can be toggled on and off to view risk and equity by account or as a group.

Why it’s great

1) Uncover fees
Most people are aware of investment account fees, but not everyone grasps exactly how much they are paying. DRAFT makes it easy to discover the percentage and dollar amount paid.

DRAFTFeeFinder

2) Benchmark and compare
Users benchmark their accounts’ historical performance, allocation, and fees graphed alongside the top 10% of performers. They can also compare their metrics with those of an index fund.

DRAFTCrowdsourced

3) Build rapport between client and adviser
The app’s Blueprint option shows where accounts fall short. Using the in-app sharing capability, users can send results to financial advisers to hold them accountable.

What’s next?

DRAFT plans to launch a B2B, white-label version of its app for advisers to brand and distribute to clients, enabling advisers to increase communication, transparency, and trust.

Additionally, by gaining visibility into their clients’ entire portfolio, advisers may discover assets they aren’t currently managing.

DRAFT debuted is mobile app at FinovateSpring 2015 in San Jose.