Hi, Product Hunters...
I wanted to give you a quick intro into what webo is, and why we've built it...
Wealthbot.io automates a lot of the RIA’s non-value add tasks so she can focus on her client relationships and her client’s goals. Webo will ensure documents are flowing electronically, he will happily apply tax loss harvesting and rebalance portfolios on household and account levels, he will even talk to your favorite financial custodian and reconcile all transactions using a sophisticated portfolio accounting system.
Overall, wealthbot.io is a platform which is aimed at managing and making money.
Since it’s open source, anyone in the community can profit, either by developing plugins or extensions of existing functionality, helping non tech-savvy users setup the platform for their in-house needs or launch a robo-advisor or a RIA firm of your own! The beauty of open software is that anyone can take it in the direction of their wildest dreams. Our ideas and roadmap are open to the world as well.
And, I have to brag a little. We’ve spent countless hours developing a system that has an extremely solid technical foundation.
@andrzejb200sx
We are two brothers asking the question - "Is Fintech Ready for open source?". Wealthbot.io is our way of answering this question.
Between us we have over 25 years experience in finance and technology.
We are also a distributed company with members of the community working from all over the world. We started the development with an idea over 2 years ago, but now we feel it's solid enough to take a beating from the general public. Plus we need help, the project is huge :) Our goal is to help put human investment advisors back on a level playing field with robo-advisors and large institutions, which charge crazy fees.
We'd like to provide an opportunity for both developers and investment advisors to profit. we've realized that we cannot compete in a closed-sourced model, it would be silly (wealthfront, betterment, schwab, are all out there.. not to name 10 new startups that seems spring up overnight). our product fills a nice niche (like magento did for ecommerce).. we hope to make it the best open-source platform for wealth management and love the support from the community we've got in a short period of time.
@vladkotwt awesome! sounds good.
It be great to be able to build & share custom algos inside the tool.
I am assuming the algos differ between the well funded robo-advisors based on the talent/brains on-board right?
Hello, Desi Saran! Thank you for sharing this cryptocurrency-related IT project with us here. The importance of creating the client service-oriented in working in various cryptocurrency markets is very high—multiple crypto investors face everyday difficulties operating multiple crypto platforms. Also, I would suggest that beginners address professional financial advisor companies like http://www.mcgeewm.com to help you with starting your career in crypto investment.
@gkobilansky This is really awesome! What's are the communities/consumer bases that you guys would be targeting? Family offices, individuals, credit unions to help compete with large FI's, etc?
@gkobilansky This is really awesome! What's are the communities/consumer bases that you guys would be targeting? Family offices, individuals, credit unions to help compete with large FI's, etc?
@charleyma Great question! Our current target market is small to medium sized Investment Advisors. Scrappy, tech-savvy and entrepreneurial financial professionals that need some help fighting off the robots :)
That being said, the exciting part of being open source is seeing the direction our community takes the platform. For example, I really like this idea from our Hacker News post "Yea, a bot that just runs your Vanguard account like betterment/wealthfront would but without their fees would provide a huge amount of value to people." - https://news.ycombinator.com/ite...
I've already added it to our roadmap: https://trello.com/b/klhsT5Xj/we...
And great suggestion on working with credit unions!
OK, sorry for the run on post, but just wanted to say, love what you're doing with Plaid (we love APIs)!
WealthBot.io
WealthBot.io
WealthBot.io
WealthBot.io
WealthBot.io
Alloy Credit Underwriting
Alloy Credit Underwriting
WealthBot.io