Looking at your 401K investment options without a financial degree can feel like trying to interpret a Jackson Pollack painting. Wall Street investors have high quality, detailed information on stocks, but they don’t publish their research to use it for themselves. Instead, they only give away the lower quality advice via discount brokers. Atlanta-based startup, WikiWealth, has created an app that is able to tell an average investor looking at their 401Ks, day trading, ETFs, or investigating a hot stock tip, whether to buy, sell, or hold that investment. They just released their app for iOS and we caught up with the company’s founder to get the scoop.
Founded by David Durant and led by Khanjan Gandhi, “WikiWealth brings Wall Street’s proven methods (cash flow and comparative) and Warren Buffett’s genius together in an easy to use valuation ratings app so that Main Street investors get the same quality as the 1% and bring innovations that fill the analytical holes in our portfolios,” explains Durant. “We also have daily alerts for those funds, a first in the industry.”
“How long do you spend making the biggest investment decision of your lifetime? I’m talking about the annual 401k selections,” he continues. “Built for Main Street investors and laden with Wall Street’s highest quality analysis, WikiWealth removes all the distractions that confuse, intimidate, and delay investors from answering one simple question: what and when do I buy or sell? From stocks and mutual funds to ETFs and alerts, this app can make investing in the 95% of the world’s most valuable investment opportunities simple and accurate. For $10,000, WikiWealth created a profitable website with 5,000 reports and 130,000 visitors, but with $200,000, WikiWealth can pursue the $24 trillion held in retirement vehicles and deliver investors a 10x return.”
“With 20 years of investing experience (I started when I was 13), I’m shocked that people like my parents are supposed to know what a PE ratio stands for in order to make the most important investing decisions of their life. 401Ks command the majority of our investments, but how long we spend researching?” laments Durant. It took him over 10,000 hours of intense studying, failed experiments, time spent on Wall Street, and years as a starving entrepreneur to finally figure out investing. “With the insights I gained, I want to pave the way for others to follow without my lifelong commitment to studying.”
Built by three Goizueta School graduates, ATL is where the team met. “The community in Atlanta is amazing; big enough that you can get help with everything you need, but small enough that everyone knows and supports everyone else,” he says. “The Atlanta Chamber of Commerce helps us meet major investors and Opportunity Hub is excited for us to build the business with their guidance.”
Although WikiWealth isn’t currently hiring, they are looking to invest in design, development, and marketing once they secure funding. Download the app on the App Store for iOS today.