Ask HN: Any disruptive startups in wealth management?

6 pointsstangeek5 comments

Hi,

With more and more millionaires in the world, but with more diverse profiles, this market seems like a good one to tackle.

Are you aware of any disruptive ideas / startups in wealth management?

I'm not talking asset management here (so not interested in quant startups etc.) or retail banking - here I'm really interested in efforts that have been made (or not) to reinvent private banking.

Thoughts?

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I don't know about 'disruptive', but I know there are companies like WealthFront and SimpleBank are in the private banking/wealth management space

Seconding Wealthfront (and Betterment as a similar service). Both seem like a great idea.

~$1B AUM each, Fee-free past a certain level of invested capital ($100k maybe), no-load index investing, automatic tax-loss harvesting, etc.

Wealthfront is very interesting (had come across it a while ago actually). Although mainly focused on investment management. Really looking to see if some startups are trying to disrupt the more "traditional" private banking field, that you would have access when you have usually $1m+ in cash.

Addepar is a wealth management platform started by Joe Lonsdale. https://addepar.com/

Thanks - their product seems to be focused on reporting though?

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