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Launch HN: Fintual Inc. (YC S18) – Automated Wealth Manager for Latin America

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Re: Launch HN: Fintual Inc. (YC S18) – Automated Wealth Manager for Latin America

#11

Post by soneca »

agustinf wrote: post #8
soneca wrote: post #6

Congrats on the launch and good luck!! Apparently not for Brasil yet, but definitely a product we need here. I would use something like it, but the only option in the space is a new startup ( https://oiwarren.com/ ) with horrible UX (every form emulates a natural language chat bot, which makes muuuch longer to fill out simple fields that a regular would take seconds). Other than that, only brokers with very user-unfr…

We don't have short term plans to get in Brazil. We met Luciano from Magnetis ( https://magnetis.com.br ) here in Palo Alto a couple of weeks ago and he seems to be doing great there, perhaps you might want to take a look at it.

Thanks, heard about Magnetis. I still believe there is room for much more of this kind of service around here.

Re: Launch HN: Fintual Inc. (YC S18) – Automated Wealth Manager for Latin America

#13

Post by agustinf »

capocannoniere wrote: post #9

Who are your target users? My understanding is that Betterment and Wealthfront are primarily aimed for upper middle-class millennials who have some savings but are not extraordinarily wealthy so as to have their own family office or dedicated wealth management team in Morgan Stanley / Goldman Sachs / JP Morgan / etc. Since the upper middle-class in LATAM is significantly smaller than that of the US due to greater ine…

We are going after that same middle-class group to start. It is for sure smaller in purchasing power than the US middle class in total, but competition for this market is also way less, which may allow us to grow faster than a roboadvisor in the US, specially if you take into account that the middle class here is growing.

Anyway, we know we will be able to expand from this market to higher net worth individuals because a good part of them are also being ripped off by banks.

Re: Launch HN: Fintual Inc. (YC S18) – Automated Wealth Manager for Latin America

#14

Post by mariocesar »

primodemus wrote: post #12

For non chileans, in the 'preguntas frecuentes' page, could you use CLP$ to distinguish it clearly from US$?

Didn't notice it was in CLP until I read your comment. :(

Also this is available for Chile only? I'm in Bolivia, will be able to invest?

The site needs communication work.

Re: Launch HN: Fintual Inc. (YC S18) – Automated Wealth Manager for Latin America

#15

Post by agustinf »

primodemus wrote: post #12

For non chileans, in the 'preguntas frecuentes' page, could you use CLP$ to distinguish it clearly from US$?

Thanks for noticing!

Yes, we use $ for peso and US$ for dollars because that's what our current customers would expect. We might have to localize the page once we grow.

I feel putting CLP$ would be confusing for them now!

Re: Launch HN: Fintual Inc. (YC S18) – Automated Wealth Manager for Latin America

#16

Post by agustinf »

mariocesar wrote: post #14
primodemus wrote: post #12

For non chileans, in the 'preguntas frecuentes' page, could you use CLP$ to distinguish it clearly from US$?

Didn't notice it was in CLP until I read your comment. :( Also this is available for Chile only? I'm in Bolivia, will be able to invest? The site needs communication work.

We launched Chile in March 2018, we plan to reach some milestones first and then move to tackle the next countries. About communication work, sure, we are editing our FAQ just now, so thanks for your feedback. If you find anything else that needs clarification please let us know!

Re: Launch HN: Fintual Inc. (YC S18) – Automated Wealth Manager for Latin America

#17

Post by gfarah »

Hi Agustin, living in Colombia it has been impossible for me to purchase selected US stocks/index, even with a large-ish 100K account I got, too much hassle too high fees. I will be looking forward for your launch in Colombia.

Additionally, I am working with a SF based e-lender www.pimes.com whose primary market is LATAM (Starting with Colombia, expanding to Chile and Peru soon), perhaps we could talk about some partnership opportunities there. My profile has my personal email if you feel like talking more about it.

Re: Launch HN: Fintual Inc. (YC S18) – Automated Wealth Manager for Latin America

#18

Post by dannygarcia »

I think this is great. Hispanic families in the US would also benefit highly from non-predatory financial products. I spent a few months learning about investing and tried my best to pass that knowledge on to my family but it was challenging communicating the value of savings. Hope you have great success in Chile and are able to expand to other markets.

Re: Launch HN: Fintual Inc. (YC S18) – Automated Wealth Manager for Latin America

#19

Post by agustinf »

gfarah wrote: post #17

Hi Agustin, living in Colombia it has been impossible for me to purchase selected US stocks/index, even with a large-ish 100K account I got, too much hassle too high fees. I will be looking forward for your launch in Colombia. Additionally, I am working with a SF based e-lender www.pimes.com whose primary market is LATAM (Starting with Colombia, expanding to Chile and Peru soon), perhaps we could talk about some part…

Thanks! I can't see your personal email in your HN profile, please email anything to vivacolombia@fintual.com to get your contact! Thanks again!

Re: Launch HN: Fintual Inc. (YC S18) – Automated Wealth Manager for Latin America

#20

Post by bbrunner »

Hey, I just went through your signup questionnaire to test it out (I work in a similar space in the US). It felt very long to me in comparison with most services I've looked at. I'm not sure what the regulations in Chile require you to ask, but for what it's worth, Betterment entirely skips doing a risk questionnaire and let's you immediately choose a goal/portfolio. The signup funnel for financial services is long and brutal due to all of the PII you have to collect, so making it shorter is usually a big win.

Overall very impressed though! Awesome to see this sort of stuff launching in markets outside of the US.

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