We all know that personal money management has it’s fair share of challenges. Sometimes you can feel like you’re on an island all by yourself trying to figure things out. This may be especially true for some of you when it comes to investing for the future.
There are certainly well-known options you can pursue to tackle the difficult task of investment planning. You can work with a financial advisor as many people do, read investment banks, blogs and more. Obviously, you need to do your due diligence to make sure you can trust an advisor’s investment decisions and that they aren’t putting their paycheck first. It can all be very complex, right?
The internet and online collaboration tools have changed the way we can manage money today. We definitely have better access to information and the tools to learn from others. A new service, called Nvestly, is such an example. With Nvestly you get to see what decision other investors are making with their money, which can help you make smarter decisions and learn from others’ success and perhaps, take more ownership in your financial future.
Essentially the service provides the ability to grow your investment network. Without showing you actual dollars, Nvestly ranks investors by returns across various time periods. You can follow their investment activity and see exactly with their doing that makes them jump up in the rankings and increase their returns.
The service currently works with 5 of the top brokerages. You just link your brokerage accounts to get started. Sure it sounds good and easy to get started, but what about security? Again, actual dollars are never displayed and Nvestly used bank level security as stated on their website.
So, if this is of interest to you, you’ll be excited to participate in an Nvestly contest for the month of November. Check out more information about this online service and how the contest works below:
Nvestly is a social investment platform that allows users to follow top investors and see their real portfolio holdings. Similar to many companies like Mint.com, users can connect their brokerage accounts to see how they’re stacking up against their friends and other investors. Since their recent launch in October, Nvestly is currently managing over $25M in assets and the top decile investors are outperforming the S&P 500 for the last year. By bringing a social component to online investing, Nvestly allows users to follow top traders and collaborate on new investment ideas. Nvestly never shares the exact dollar amount and is free to use.Nvestly is celebrating their recent launch by giving away $2,500 AAPL shares. The shares will be transferred through SharesWell. The contest ends on Thanksgiving Day.