COMPANY: DRAFT
ELEVATOR PITCH
Crowdsourced investment analysis.
PRODUCT/SERVICE DESCRIPTION
DRAFT is a crowdsourced investment analysis tool that changes the way people view, think and act when it comes to their long-term investment strategy. DRAFT connects directly to a user’s various bank and investment accounts to show them how the performance, asset allocation, and annual fees of their portfolio compares to that of top performers in their category. Through a simple side-by-side comparison, the user can quickly find opportunities to fill allocation gaps and lower fees. DRAFT makes it easy for users to switch to a better long-term strategy through its strategic online investment partners.
We use the crowd—that is what makes us stand out! We are the first company to use crowdsourced data to create a simple comparison benchmark. You see how your investments perform against the top 10 percent—how much you pay in fees against the top 10 percent, how you are diversified compared to the top 10 percent. We have created a better investment benchmark!
The genesis of DRAFT comes from the aerodynamic principle of drafting. Working together, groups can gain efficiency and perform better. After several years in the financial industry, Brad struggled with the value he was providing. The industry thrived because it was complex, isolated and secret. The value for the end consumer, however, continued to erode. We set out to solve the problem by creating a platform that helps investors by creating a tool that focuses on simplicity, community and transparency.
The U.S. Department of Labor recently projected that the American investor is losing out on $17 billion in lost returns every year because of hidden fees and poor behavior by professionals in the space. An average 35-year-old stands to lose over $350,000 in fees alone if he retired with $1.5 million based on an average two percent annual fee being charged. There are new, emerging strategies utilizing passive investments that can produce similar results at a much lower cost; however, until now there has been no good tool to show you how to do this and how to properly diversify your assets.
FOUNDERS
Brad Lawler – Ten-plus years in the financial services space and big data.
Jason St. Peter – Fourteen-plus years of operations and marketing in the technology industry.
HEADQUARTERS: Austin, Texas
WEBSITE: www.draftapp.com
YEAR FOUNDED: 2014
TWITTER: @DRAFTinvest
FACEBOOK: facebook.com/DRAFTapp
LINKEDIN: linkedin.com/company/4799719
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