This post is part of our live coverage of FinovateSpring 2014.
“One of the most common principles of investing is ‘invest in what you know,’ whether it’s a security that you’ve researched extensively or a company or brand that you believe in. LikeFolio leverages the power of social media to help prospective investors understand not just what they know, but what their friends and connections in the social world know as well.LikeFolio shows users the top five publicly traded companies their networks are talking about and what those companies do. It then translates that information into potential investment ideas by showing users how a portfolio of those five securities would have performed over a 12-month period after an initial investment of $10,000.The design is clean, the functionality is easy to use and understand, the language is conversational and to the point, and the database is smart and robust with the ability to expose the ties of obscure product brands to publicly traded companies. The technology is patent pending and was designed by Gen Y with Gen Y – or other heavy users of social media – in mind, particularly those who are new to investing.LikeFolio is not an investment advisor, and they do not transact trades. For users that wish to participate in the market, LifeFolio recommends TD Ameritrade as their brokerage of choice.”