9 ms·

I'm actually pretty interested in what you're building. Sure, Vanguard and Fidelity are well-established giants, but they've barely moved beyond standard ETFs f

I'm actually pretty interested in what you're building. Sure, Vanguard and Fidelity are well-established giants, but they've barely moved beyond standard ETFs for decades. Having the option to tweak weightings at a more granular level and do daily tax-loss harvesting at scale seems like a genuine step forward. I also like that you're transparent about how you might eventually introduce additional revenue streams like margin lending or maybe even PFOF. Knowing that upfront is better than a sudden terms-of-service surprise down the road. Still, I'd hope you'll consider giving users some say over how their shares are handled — like opting out of lending — so your incentives stay aligned over the long run. Congrats on hitting $10M AUM. I'm rooting for more low-fee alternatives that keep the user in the loop!

soared 2y ago
Fidelity has innovated a ton and they have this exact product, though I don’t know the fees. Fidelity is very much into new fintech ideas and products.. they were mining crypto very early on.
- sumanyusharma 2y ago
  Appreciate the info; I'll double-check Fidelity again!
- ac29 2y ago
  Fidelity has a few direct indexing products. Here is one that is $5/month: https://www.fidelity.com/direct-indexing/customized-investing/overview https://www.fidelity.com/direct-indexing/customized-investin... I'm curious if Double has any advantages over this offering other than price. While I'm not personally interested in direct indexing, if I was I would absolutely be willing to pay the extra $4/month to do it at Fidelity vs some unknown startup.
- TuringNYC 2y ago
  >> Fidelity has innovated a ton and they have this exact product, though I don’t know the fees. >> Fidelity is very much into new fintech ideas and products.. Fidelity has a competitive product called Basket Portfolios and it is so buggy as to be almost unusable. The bugginess has existed for many months and they do not even seem to care.

soared 2y ago

Fidelity has innovated a ton and they have this exact product, though I don’t know the fees. Fidelity is very much into new fintech ideas and products.. they were mining crypto very early on.

sumanyusharma 2y ago
Appreciate the info; I'll double-check Fidelity again!
ac29 2y ago
Fidelity has a few direct indexing products. Here is one that is $5/month: https://www.fidelity.com/direct-indexing/customized-investing/overview https://www.fidelity.com/direct-indexing/customized-investin... I'm curious if Double has any advantages over this offering other than price. While I'm not personally interested in direct indexing, if I was I would absolutely be willing to pay the extra $4/month to do it at Fidelity vs some unknown startup.
TuringNYC 2y ago
>> Fidelity has innovated a ton and they have this exact product, though I don’t know the fees. >> Fidelity is very much into new fintech ideas and products.. Fidelity has a competitive product called Basket Portfolios and it is so buggy as to be almost unusable. The bugginess has existed for many months and they do not even seem to care.