Feedback on concept and website
Hello,
I've just started a website targeted at those interested in the stock market. I'd appreciate any feedback on the concept and the website.
In a nutshell:
- The website allows users to create and share mock portfolios.
- Users can jointly manage portfolios
- They can also choose to charge people who want to view their mock portfolios. The users who manage the portfolio get most of the subscription fees.
thx in advance
Clarification added February 14, 2008:
link: www.xearn.com
Answers (3)
Doreen H
Co-Founder and CEO of, Enleiten, Inc.
Best Answers in: Planning (1), Project Management (1)
Looking through the site, I'm not sure what makes your site the one I would sign up for?
What does your site offer that something like Covestor doesn't already, especially since they already have a pool of users whose portfolios I could look at? Whatever that is, it doesn't necessarily stand out in the site, and you might want to think about ways to emphasize it.
Ram -
The first concern I have for you going forward is that charging people to view portfolio choices is likely to be considered rendering advice. As such the people oiffering this advice would need to be licensed per SEC & FINRA regs. You as the site owner/administrator would also need to be licensed most likely.
I would be certain to confer with a securities attorney before you do too much work.
The second issue is who do you think this can be marketed to? I don't see much value to the public in allowing them to view "amateurs" stock selections. On top of the fact that a mock portfolio is a less than worthy indication of one's stock selections. Since no real assets are on the line the choices are NOT reality. Without real risk they are simply an academic exercise.
Just a few thoughts from a 15+ year veteran in the industry.
Alex Z
Operations & Marketing Exec. (P&G, Amazon.com, RJR Nabisco & Silicon Valley Start-ups)
Ram – this is a very crowded space to position your company in… plus regulations are a ‘bear’. Also, the value prop is unclear… better investing? For whom? Seems like a social networking or a wiki site for inexperienced investors… what’s the RTB (reason to buy/believe) this is a credible source? Then, what is the benefit to sign up and pay for this service? Make more money by investing smarter? A tall order. Last, you can get similar tools via Yahoo and other financial services sites. Punt.
