Company:Hedgeable
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| Type | Privately held company |
|---|---|
| Industry | Personal finance,
Investment Management, Digital Wealth Management, Automated Investing, Portfolio Management, Investment services |
| Founded | 2009 |
| Founder | Michael Kane, Matthew Kane |
| Headquarters | New York City , United States |
Key people | Michael Kane (Co-Founder, CEO),
Matthew Kane (Co-Founder, COO), Siddharth Sharma, CFA, FRM (CTO) |
| Website | www |
Hedgeable, Inc. is a United States based financial services company and digital wealth management platform headquartered in New York City . Hedgeable doesn't follow set allocations, but actively manages accounts in response to market movements.[1]
On August 9, 2018, Hedgeable closed its doors to new investors, with existing investors required to transfer out of the company.[2] The company claimed that it was not shutting down but simply removing its SEC registration.[3]
History
Hedgeable was founded in 2009 by twin brothers Michael and Matthew Kane, who previously worked at high-net worth investment managers such as Bridgewater Associates and Spruce Private Investors. Both Michael and Matthew graduated from Penn State University with degrees in finance. Hedgeable is a Registered Investment Advisor with the U.S. Securities and Exchange Commission.[4] The company has received funding from SixThirty[5] and Route 66 Ventures[6] as well as various other angel investors. On August 9, 2018, Hedgeable closed its doors to new investors.[2]
Investing Strategies
Hedgeable does not follow a buy-and-hold approach, but instead actively manages accounts in response to market movements[7] focusing on downside protection in bear markets.[8] This strategy is different from other robo-advisors, which use Modern Portfolio Theory.
Hedgeable offers investment options including Exchange Traded Funds (ETFs) to individual stocks, master limited partnerships, private equity and bitcoin.[1] Mutual funds are not used in portfolios.[9]
Although the firm's focus is to provide a direct-to-consumer service, Hedgeable's investment strategies are available to financial advisors[10] and institutions as well through a variety of platforms.
Product Features
Hedgeable aims to gamify[11] personal finance for clients. Clients can open a new account or transfer an existing account. Hedgeable accepts retirement accounts, taxable accounts, business accounts and various other account types. Hedgeable offers unique features such as:
- Downside protection
- Account aggregation
- Alternative investments
- Alpha rewards
- API[12]
- Mobile app
It was awarded 4/5 for client transparency by Paladin Research.[13] Hedgeable was the winner of the Finovate Fall 2015 Best of Show Award[14] and the GREAT 2015 Tech Award (FinTech Category).[15]
Future Endeavors
In 2016, Hedgeable launched its first iOS mobile app[16] in order to expand their product offerings and is looking to expand globally in the future.
References
- ↑ 1.0 1.1 Moyer, Liz. "Putting Robo Advisers to the Test". Wall Street Journal. ISSN 0099-9660. https://www.wsj.com/articles/putting-robo-advisers-to-the-test-1429887456.
- ↑ 2.0 2.1 Friedberg, Barbara A.; MBA; MS (2018-07-12). "Hedgeable Closes Active Robo-Advisor - Alternatives Exist" (in en-US). https://www.roboadvisorpros.com/hedgeable-closes-retail-investors-restructures/.
- ↑ "Robo advice pioneer gets out of robo advice" (in en). 2018-07-12. https://www.financial-planning.com/news/robo-advisor-hedgeable-removes-sec-registration.
- ↑ "The Razors Hedge", "Thrillist", New York, Oct 27, 2009
- ↑ Calhoun, Michael. "McKelvey’s SixThirty Picks First Four Startups for Accelerator Program", "CBS St.Louis", St. Louis, Oct 3, 2013
- ↑ "Hedgeable | Route 66 Ventures". http://route66ventures.com/portfolio-item/hedgeable/.
- ↑ Moyer, Liz.[1], "Wall Street Journal", New York, April 24, 2015
- ↑ Chang, Ellen.[2], "Mainstreet.com", New York, April 21, 2015
- ↑ "The Millennial: Fintech's Darling?". 5 April 2016. http://blog.mondato.com/the-millennial-fintechs-darling/.
- ↑ Garmhausen, Steve. "New Firm's Platform Offers Hedge Expertise to Advisers", "Financial Planning", May 3, 2010
- ↑ "Hedgeable Gamifies Personal Finance for Millennials - Production" (in en-US). http://www.yodlee.com/blog/hedgeable-gamifies-personal-finance-millennials/.
- ↑ "Hedgeable". 15 March 2016. http://www.programmableweb.com/api/hedgeable.
- ↑ Waddell, Melanie. "21 Best & Worst Robo-Advisors for Client Transparency", "Think Advisor", Aug 14, 2014
- ↑ "FinovateFall 2015 Best of Show Winners Announced - Finovate" (in en-US). 17 September 2015. http://finovate.com/finovatefall-2015-best-of-show-winners-announced/.
- ↑ York, British Consulate General New. "Winners Announced For UK Government's Annual GREAT Tech Awards Competition". www.prnewswire.com (Press release). Retrieved 2016-04-22.
- ↑ "Hedgeable - Sophisticated Investing Made Simple on the App Store". https://itunes.apple.com/us/app/hedgeable-sophisticated-investing/id1100013306?mt=8.
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