4 Cool Fintech Tools Coming Out of NY Tech Day

UPMONTH, which works primarily with institutional investors, endowments and family offices, soft-launched at the beginning of this year and has signed on 11 clients already.

According to Jared Bloom, a partner at UPMONTH, “so much of an investment office’s knowledge” is in documents in servers, folder and emails – “all over the place,” Bloom said.

Bloom said he knows of one endowment that has a dedicated team that focuses specifically on documents getting put in the right place so they can be found later.

Instead, investment teams can drag and drop files into UPMONTH where files are tagged using clues from the content itself. Then, similar to a Google search, they can search for any document.

3. Kidfund

Kidfund is a private, social savings platform that allows parents to open a savings account for their child. Because, as their website says, “putting money in your kid’s account should be as easy as tipping the barista.”

Through Kidfund, parents can also build a larger fund with auto-recurring transfers, direct cash gifting from friends and family, and donate to accounts for kids in need.

Funds are held with Kidfund’s banking partner, USALLIANCE Financial, in convenient, secure, individual savings accounts opened in seconds through the Kidfund app and linked to each child’s profile. These accounts are free and insured up to $250,000, with 3% interest on first $500.

Charitable donations are set in the app and go through Kidfund’s non-profit partner, CFED’s 1:1 Fund, into a growing network of local programs that provide College Savings Accounts for kids in need across America.

4. qplum

Qplum is an online investment advisory firm, offering A.I. and machine-learning based portfolios. 

The firm, which launched in February 2016, was founded by Mansi Singhal and Gaurav Chakravorty as a way to democratize investing. The goal of qplum is to bring investment techniques, trading strategies, and wealth management tools – which were once the privilege of Wall Street – to the main street investor. 

Qplum charges a flat fee that is a percentage of assets under management, rather than paying per trade. The fees vary based on the portfolios, for example, the fee of qplum’s Flagship portfolio is roughly $4.75 per 10,000 per month.

The firm handles retirement planning, IRA accounts, 401k rollover, personal investing accounts, joint investment accounts, and more.

For individual and joint accounts, the investment minimum is $10,000. For traditional, ROTH, and SEP IRAs, the investment minimum is $1,000.

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