Richie Invest

An app that lets you invest with your friends

Richie is a social Investment platform developed for millennials by millennials. Create an investment goal with your friends & save together.

Discussion
Would you recommend this product?
9 Reviews4.4/5
Hey, tell us what you think! We really need good feedback and check out the prototype demo! Join our waitlist! First 500 Free Forever.
Hi Ermek - This looks cool! Are you guys acting as a broker dealer with this or using another provider?
@charleyma we are actually SEC Registered Investment Advisor. And we are using Folio Institutional as a broker-dealer. Ohh do you happened to work for Plaid? We are planning to use many things provided by Plaid in the future. We want to incorporate some Machine Learning into decision making.
@ermekbsmoder I do! We should connect sometime, would love to learn more :)
@charleyma Definitely! I added you on Linkedin.
Cool concept. This reminds me of vouch but for smaller trips/events. The network effect of these can be really powerful if done correctly. Is this available globally?
@stvmcg thank you Steve! It is not yet available globally however we want to make it available everywhere.
Cool stuff, congrats! Would you have country restrictions (USA only), or could we access RI from the European Union too?
@mattfarkas US regulators are tough for foreign users, but we want to be available for people in the EU as well! Thank you for your comment

Any tool that creates an incentive to save is a good start, however, investing is best practiced as a long term practice. Investing with friends towards a common goal (a vacation, for example), and using Richie to set a targeted portfolio value fails as a good tool under the assumption that the estimated returns are realized. What happens if you book a trip based on what Richie estimates your portfolio value will be in 6-12 months from now, and the market tanks?

Pros:

Easy to use, investment incentives

Cons:

Mixing friends/family with investments + saving for a trip requires pre-booking based on estimated returns - if returns not good, unfunded!