Hedgeable
 | |
| Company 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 U.S. 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
[edit]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
[edit]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
[edit]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
[edit]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
[edit]- ^ a b Moyer, Liz. "Putting Robo Advisers to the Test". Wall Street Journal. ISSN 0099-9660. Retrieved 2016-04-22.
- ^ a b Friedberg, Barbara A.; MBA; MS (2018-07-12). "Hedgeable Closes Active Robo-Advisor - Alternatives Exist". Robo-Advisor Pros. Retrieved 2019-08-12.
- ^ "Robo advice pioneer gets out of robo advice". Financial Planning. 2018-07-12. Retrieved 2020-03-16.
- ^ "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". route66ventures.com. Retrieved 2016-04-22.
- ^ 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?". Mondato Insight. 5 April 2016. Retrieved 2016-04-22.
- ^ Garmhausen, Steve. "New Firm's Platform Offers Hedge Expertise to Advisers", "Financial Planning", May 3, 2010
- ^ "Hedgeable Gamifies Personal Finance for Millennials - Production". Production. Retrieved 2016-04-22.
- ^ "Hedgeable". ProgrammableWeb. 15 March 2016. Retrieved 2016-04-22.
- ^ Waddell, Melanie. "21 Best & Worst Robo-Advisors for Client Transparency", "Think Advisor", Aug 14, 2014
- ^ "FinovateFall 2015 Best of Show Winners Announced - Finovate". Finovate. 17 September 2015. Retrieved 2016-04-22.
- ^ 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". App Store. Retrieved 2016-04-22.