FinovateSpring 2011 / Wikinvest

Presenter Profile:

How they describe themselves: Wikinvest demoed the first-ever portfolio tracker that syncs directly with your brokerage accounts at Finovate Spring 2010. The product allows you to see all your investment accounts in one place, pushes price data and news from 500+ sources directly to your browser (without a page refresh), calculates your true investment performance (net of dividends, fees, interest, excluding deposits and withdrawals), and is fully customizable. Nine months later, we are tracking ~ $15 Billion in verified assets for ~ 100,000 users. 65% of our users are 30-day active. They have an average of over 100 pageviews, and 18 hours time on site, every month.

How they describe their product/innovation: Because of the wealth of data we import from users’ brokerage accounts when they sign up for our portfolio service, we are in a unique position to offer specific and actionable advice.

  • The entire product is powered by sync – you don’t have to enter data, we automatically analyze your historical behavior.
  • If you own a bad mutual fund or ETF, and there’s a better one in the same category, we’ll recommend a switch.
  • We analyze the fees your brokerages charge you — across dozens of categories — and simulate your behavior at other brokerages in our system to see how much money you could save money.
  • We’ll automatically provide tax loss harvesting advice to help you optimize on taxes.
  • If you have a financial advisor, we’ll automatically detect that and compare his or her performance to all others in our system and recommend a switch if warranted.
  • We’ll analyze your behavior & style and recommend changes where warranted (such as too-frequent trading).

More Videos: FinovateSpring 2011