Chillvest Unveils Latest Disruptive Portfolio Service
San Francisco, CA – June 23, 2014 - (BUSINESS WIRE):
Chillvest.com, a leading provider of cloud-based automated investing for Tweens, Millennials and Generation Z, today introduced its latest disruptive innovation, Portfolio Payments™, the first-ever investment product that pays a fee to the investors who buy it. Portfolio Payments™ is an index-based portfolio that will pay investors 25 basis points (or one quarter of one percent) to put their money into it. With this announcement, Chillvest completes its founder’s vision for massively disruptive financialization of the investment business. “We’re the first investment company that pays its clients!” its website proclaims.
Backtesting confirms that investors who would have owned the major stock market indexes and had simultaneously been paid 25 basis points per year would have had superior returns to those who owned the index without being paid anything at all by their money manager.
“We have first-mover advantage in this space as the vast majority of our competitors are focusing on profits and revenues,” said CEO and founder Jayden Scott, who timed the launch to coincide with his 21st birthday. “We’re taking low-cost and free automated portfolio solutions to the next level and their logical endpoint. If cheap is good and free is great, then Chillvest paying you is totally turn’t up!”
This unified family of cloud-based investing solutions powering client-centric index interactions will be available to customers with a minimum account size of five hundred dollars. Chillvest expects to see over one million new customers sign up within weeks.
“Our business has gone through a transformation to become a proactive and data driven organization where we can make decisions based on bigger opportunities, with an emphasis on the potential profits of tomorrow once we’ve grabbed our share of the market,” said Chillvest’s Chief Investment Officer and Director of Disruption, Li’l Ray Ray. “Our 2014 forecast shows that we will nearly quintuple our user base every day for the next six months while only increasing our back office resource use by around 80 percent.” The company expects to pay out its negative expenses to investors largely from the funds raised during its Series F round, to be completed this summer.
Unlike legacy asset management businesses, Portfolio Payments™ is built to to serve clients in the most disruptive way possible without regard for even the most basic economic concerns that seem to hamstring so many of its peers. “IMO, Millennials want speed and colorful user interfaces. They want top ten lists and animated GIFs, not phone calls or conversations. But mostly, they want everything to be instant and free because instant, free things are always better, obviously.”
To learn more, please visit: www.chillvest.com