Custom Financial Plans and Advice for Pro Users
We are now offering custom financial plans tailored to each Pro user's situation, as well as the ability to ask an advisor any question. Topics include Finance, Economics, and Trust.
Ankur Nagpal
founder @ochowealth @teachable, investing @thevibecap
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Something that seems obvious in retrospect, but took us 6+ months to figure out
— Ankur Nagpal (@ankurnagpal) June 7, 2023
When it comes to trusting a platform with money, people feel a lot more comfortable with humans in the mix
We fought against it, but are increasing leaning into planners & advisors at @ochowealth 👇 -
The most common feedback we heard was:
— Ankur Nagpal (@ankurnagpal) June 7, 2023
"I don't know what I don't know, can you tell me what to do with my money?"
We're leaning into that by giving every Pro user:
- A custom financial plan tailored to their situation
- The ability to ask an advisor any question pic.twitter.com/wdKQgllJFV -
After giving the planner an overview of your situation, you get a custom financial plan that covers:
— Ankur Nagpal (@ankurnagpal) June 7, 2023
- What accounts to set up
- What order to contribute dollars into which account
- How much to keep in emergency savings
- Insurance, stock options, investing etc etc
Built-in -
The next step that we're working on is:
— Ankur Nagpal (@ankurnagpal) June 7, 2023
Once you have this financial plan, you can implement the majority of it on platform
If your plan says set up a Solo401k and contribute $1k a month, you should be able to automate the whole thing inside the app
All with no AUM fees -
It's still very early, but the new human centric approach is helping a lot of customers
— Ankur Nagpal (@ankurnagpal) June 7, 2023
We've kept it super affordable for now at $499 /year for:
- A custom financial plan
- Ability to ask unlimited questions via text/chat
- Investment accounts
- Roboadvisor with no fees (soon) pic.twitter.com/8FqoKi1eND -
Is the $499 / year flat fee price point sustainable?
— Ankur Nagpal (@ankurnagpal) June 7, 2023
We'll see
I suspect it could be if we build efficiencies into our technology
We may have to scale back some of what we're doing now like included video calls with the planner for the month of June
But the future is flat-fee -
What if people already have advisors they work with?
— Ankur Nagpal (@ankurnagpal) June 7, 2023
This is an area of the product we're doubling down on
If you are a planner or advisor & want to set up a solo401k for your clients, DM me
We want to build great tooling for you -
And if you want to give the product a shot, check out ocho dot com
— Ankur Nagpal (@ankurnagpal) June 7, 2023
You can get all of the above for $499 / year
Including a video call with a planner for the month of June
If you try it out and it sucks, DM me and we'll refund you
And as always, feedback very welcome 🙏