New Financial Advisor Replacement App Targets Retail Investors Promising 4% A Year With No Expenses

Monday, April 01, 2013 13:38
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New Financial Advisor Replacement App Targets Retail Investors Promising 4% A Year With No Expenses

Tags: Advisor businesses | competitors | online financial advice

FinancialAdvisorReplacement.com (FAR), an app named for its mission, was launched today, promising investors a 4% annualized return over the next five years with no management expenses.

This Website Is For Financial Professionals Only


The app is funded by a two Silicon Alley executives who got the idea from a Wall Street broker they met on the subway in New York.
 

 

“The New York subway system has long been recognized as a breeding ground,” says Marty Cohen, CEO and Founder of FAR. “But not for financial ideas.”

 

Cohen, a successful venture capital investor, and his partner, Raj Choudrysakian, CFA, have attracted investments from some of Silicon Alley’s biggest names as well as former top Wall Street executives.

 

FAR’s business model of providing advice for free for five years has attracted $1 billion in the last three months and assets are growing 123% monthly.

 

 

 

Comments (3)

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vguettlein
Seems like a profitable business model. I bet we could beat them if we offer to PAY people to let us manage their money for five years. I like the idea of getting something for nothing.

I wonder if the SEC will have anything to say about their guarantees?

I tried to visit the site, but Google can't seem to find it, and direct navigation didn't work either.
vguettlein , April 01, 2013
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vguettlein
alright. ya got me. lol.
vguettlein , April 01, 2013
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vguettlein
You shoulda named it Financial Advisor Replacement Team.
vguettlein , April 01, 2013

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