Many people have saved some money which they want to invest for the future. Some people are happy investing their money in a roboadviser, which programmatically puts money into long-term investments. Other people want a more personal approach involving a certified financial planner (CFP®). A CFP® is a human who allocates capital for an individual based off of that individual’s preferences.

A CFP® spends time and effort researching the options for a client. If the client only has a small amount of money (say, $15,000), it is not worth it for the CFP® to spend much time on that account. As a result, there is a type of client who has saved a little bit of money, but has not saved enough to be an important client for a CFP®.

Facet Wealth is a software company that makes software for CFP®s to work more effectively with their client accounts. Facet Wealth has in-house CFP®s who work with this software to manage client accounts. In addition, Facet Wealth buys client accounts from independent CFP®s who have small accounts which they do not have time to manage. This is an innovative way to aggregate users onto the platform.

Gorkem Sevinc is CTO at Facet Wealth. He joins the show to describe the business and the software architecture of the company. We touched on many different areas–from human-computer interaction to the future of investing.

We recently launched a new podcast: Fintech Daily! Fintech Daily is about payments, cryptocurrencies, trading, and the intersection between finance and technology. You can find it on fintechdaily.co or Apple and Google podcasts. We are looking for other hosts who want to participate. If you are interested in becoming a host, send us an email: [email protected]

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