>> WELCOME BACK TO CHEDDAR
EVERYONE WILL STAY ON TOP OF
YOUR FINANCES AND MAKING SURE
YOU'RE SAVING B A TALL TASK BUT
THE EMERGENCE OF FINTECH UPS IS
MAKING IT MORE MANAGEABLE
TO AUTOMATION WITH US NOW IS AN
HONOR TO BE THE CO-FOUNDER AND
SEALED ALBERT IT'S A PERSONAL
FINANCE MANAGEMENT TOOL.
YOU KNOW IT'S GOOD TO HAVE YOU
ON THE SHOW GIVE US AN IDEA OF
THE KEY FEATURES THAT ALBERT
HAS THAT HAVE DRIVEN ITS
ADOPTION.
>> YES THANKS SO MUCH FROM THE
OSCE AND THE AIR SO YEAH, I
MEAN LOOK ALBERT TAKING OVER IS
THE EASIEST WAY
TO MANAGE YOUR MIND WHEN WE
THINK ABOUT OUR CUSTOMER PEOPLE
HAVE A STRUGGLE WITH PORTER
MITCHELL THE SESSIONS YOU DON'T
KNOW WHERE TO GO.
YOU KNOW IT'S ME TO TALK TO HIM
IF YOU DO GET IT BUYS IT'S
ACTUALLY VERY HARD TO DO
SOMETHING ABOUT IT IT'S IT'S
SORT OF A PAYMENT SO WE TRY TO
BUILD A SERVICE THAT DOES 2
THINGS WELL ONE IS ACTUALLY
AUTOMATE YOUR FINANCES SO DOES
ALL THOSE
CHORES FOR ARE YOU INTO THE
MAGIC SAUCE HERE IS YOU CAN ASK
US ANY
FINANCIAL QUESTIONS AND WE
DELIVER PERSONALIZED GUIDANCE
FROM A TEAM OF A REAL HUMAN
EXPERTS TO TELL YOU A BIT MORE
ABOUT THEM, YOU KNOW THE THING
ABOUT AUTOMATING
YOUR FINAL JUST ABOUT SAVING
MONEY, YOU KNOW SAVING MONEY IS
PAYING FOR SURE IN NOBODY LIKES
TO DO IT SO WE DO IT FOR YOU WE
CONNECT YOUR BANK ACCOUNT.
WELL A FEW DOLLARS ON EVERY DAY
WHEN YOU CAN AFFORD IT AND WE
SAVED THE MONEY TO BE WITHIN
BEST FRIEND.
>> CLARITY MONEY AND
DIGIT THERE'S OBVIOUSLY SOME
COMPETITORS AT COMPETITORS OR
NICE EXACTLY.
>> FOR US, I THINK THE MOST
IMPORTANT THING WE THINK OF YOU
KNOW, I MEAN YOU'RE FINDS
IS IS BUILDING EACH OF THESE
TOOLS, THE DIGIT CLARITY ACORN
STASH BUILT WE DON'T THINK IT'S
ENOUGH I THINK THE MOST
IMPORTANT THING IS TO DELIVER
THE PERSONALIZED GUIDANCE AND
SO WE FOCUSED REALLY ARE AND
THE GUIDANCE
AND ADVICE. THEY ARE TRYING TO
RE IMAGINE WHAT ADVICE MEANS TO
ABROAD CAN SCHUMER SO IF YOU
THINK ABOUT
IT RIGHT. IF YOU WANTED TO ASK
A QUESTION OF HOW MUCH SHOULD I
PAY MY DEBT SHOULD I SAVE
SHOULD I INVEST
HOW MUCH I PAID MY DEBT TO LIVE
FOR NICE FOR THIS MEAL TODAY,
THERE'S NO REALLY THERE'S NO
GOOD PLACED ACTUALLY ASKED
THAT QUESTION AND WE TRY TO
SOLVE THAT PROBLEM FIRST AND
FOREMOST DELIVERY A GUIDANCE
ONCE WE DELIVER THE GUIDANCE
THAT WE GET IT
ACTUALLY DO THE WORK FOR YOU
CITY OF DISABLED IT FOR YOU IF
YOU HAVE TO INVEST WILL DEPORT
AND THAT'S WHERE WE HANG OUR
HATS ON ARE YOU DOING IN
TRIPOLI AREA ARE YOU A
FIDUCIARY.
WE ARE A REGISTERED INVESTMENT
ADVISOR, SO YOU DON'T.
>> BY LAW HAVE TO GIVE ADVICE
THAT IS IN THE INTEREST OF
PEOPLE USE THE APP CORRECT.
>> BY LAW NO I WE
YOU KNOW ONE OF THINGS WE VALUE
THE MOST IS A MISSION TO
IMPROVE OUR CUSTOMERS FINANCIAL
WELLNESS. YOU KNOW BY LAW
THEY'RE LOT OF AIR IS THAT
THERE REALLY AREN'T OUR TOUCH
FOR EXAMPLE,
THE CUSTOMER CAN I AFFORD TO GO
OUT TO DINNER TONIGHT. THERE'S
NO REAL LAW THAT SAYS WHAT WE
CAN AND CAN'T DO.
>> SEPARATE THINGS AROUND FTC.
BUT THERE'S NO REAL OF
FINANCIAL LAWS. SO WE'RE SORT
OF REINVENTING A NEW SPACE HERE
INVENTING NEW SPACE AND WE
TRIED VERY HARD
TO IMPROVE CUSTOMER FINANCIAL
WELLNESS, SO SOMEBODY OUT TO
SOMETHING LIKE YOU KNOW CAN I
AFFORD TO GO
OUT TONIGHT. WE WILL GIVE THE
BEST POSSIBLE INTO THE WEEKEND.
>> HE SAYS I'M SEARCHING COST
$4 A MONTH RATE.
THAT MEANS PAY WHICH WHAT YOU
THINK
IS FAIR YOU AS THE CUSTOMER GET
TO CHOOSE THE AMOUNT YOU PAY
PER MONTH THAN THE MINIMUM IS
SO THE WORD OUT.
SO BELIEVE IT OR NOT MOST
PEOPLE DON'T SELECT THE MINIMUM
WE LIKE TO PAY WHAT'S FAIR
MOTTO BECAUSE IT GIVES PEOPLE
SOME PEOPLE CAN A LITTLE BIT
MORE SOME PEOPLE ARE ARE
STRAPPED THEM AND YOU CAN
CHOOSE THE AMOUNT THAT FITS
YOUR BUDGET.
>> BUT YOU HAVE TO PAY AT LEAST
$4 A MONTH.
THAT IS CORRECT GET REALLY WHAT
IT TYPICALLY WHAT IT WHAT IS
THE AVERAGE ARE GETTING PER
USER.
>> WE WE CAN'T SURE THAT EXACT
NUMBER BUT
I DIDN'T.
>> FOR AND ARE WHAT'S THE END
GAME APART FROM THESE YES, OR
NO QUESTIONS READ ARE YOU ALSO
OFFERING PEOPLE INVESTMENT
ADVICE IN TERMS OF WHERE TO PUT
THEIR MONEY AND THEN GETTING A
COMMISSION FOR MATTERS ALL THE
MONEY YOU'RE GETTING THESE
MONTHLY FEES.
>> THE MONTHLY FEES IS IS
THE PRIMARY A PRIME SOURCE OF
REVENUE WE WE DON'T GET
COMMISSIONS FROM YOU KNOW
INVESTING YOUR MONEY
FOR EXAMPLE, THE END GAME HERE
IS WHEN YOU THINK YOU HAVE A
FINANCIAL DECISION WE WANT TO
BE THE PLACE THAT YOU TURN TO
IF YOU KNOW YOU FACE A LOT
OF FUN DECISIONS OVER YOUR LIFE
WHETHER YOU NEED TO INVEST IT
ON YOUR DAY GET INSURANCE.
WE WANT TO BE THE PLACE YOUR
PRIMARY FINANCIAL RELATIONSHIP
THAT YOU ACTUALLY TURN TO TO
MAKE THOSE DECISIONS AND WE'VE
BUILT ALL THE SOFTWARE TO
ACTUALLY DO THE WORK FOR YOU
HOW ARE YOU AND I LIKE THAT
SORT OF.
>> YEAH WHEN YOU WHEN YOU WHEN
WE CONNECT ARE DIFFERENT
ACCOUNTS TO THE SERVICES, YOU
KNOW YOU GET ACCESS
TO JUSTICE. TREASURE TROVE OF
DATA HOW WHAT YOU END UP DOING
WITH THAT DATE OR RESELLING
THAT THE ENERGY PLAN TO SELL
THAT HEDGE FUND FOR EXAMPLE OR
FOR
ALTERNATIVE DATA.
>> WE ABSOLUTELY DO NOT SO
GREAT AND WE WILL NEVER SELL WE
USE YOUR INDIVIDUAL DATA TO
GIVE YOU THE BEST ADVICE WE
THINK WE IT SO WHEN YOU CONNECT
YOUR BANK ACCOUNT WE SEE YOUR
TRANSACTIONS AND WE USE THAT
THAT FIGURE OUT WHETHER YOU
SHOULD SAVE MONEY OR DOWN
DEBT OR OR YOUR BILLS OR DO I
FOR EXAMPLE IF
WE NOTICE THAT CABLE BILL RISES
WE'LL LOOK AT YOUR DATE AND
WILL TELL YOU THAT WILL SEND
YOU A PUSH NOTIFICATION AND SAY
YOUR CABLE BILL ROSE BY 10%.
>> ACQUISITION STRATEGY.
>> WE ARE A DIGITAL APP SO IT'S
ALL DIGITAL YOU'LL SEE US AND A
LOT OF SOCIAL CHANNELS FACEBOOK
INSTAGRAM SNAP TAKE TO YOU KNOW
YOU TO IT YOU NAME IT WE HAVE A
REFERRAL PROGRAM. WE HAVE A
REALLY GREAT A WORD OF MOUTH
ORGANIC ARE GETTING COMPONENT
AS WELL VERY MUCH
ALL DIGITAL.
>> SO ARE YOU OFFERING ADVICE
BE ON YES OR NO, BUT ANSWERS.
>> YOU HAVE VERY FEW IF ANY OF
THE DEVICES, YES, OR NO THERE
IT'S A IT'S A FULL DIALOGUE IF
YOU WANT TO TALK TO A HUMAN YOU
CAN ACTUALLY TALK TO A HUMAN
NEXT FOR AN HOUR IF THERE'S NO
BOUGHT THAT YOU'RE
TALKING TO A YOUNG BRERA LEE
WILL THE QUESTION EVER BE YES
OR NO WHEN IT COMES HERE AND
YOUR FINANCIAL I ARE THE HUMANS
THAT YOU TALK TO.
>> IN SOME WAY A CERTIFIED AS
FINANCIAL ADVISOR A SORE OR
ANYTHING LIKE THAT.
>> YEAH ABSOLUTELY SO WE HAVE
DIFFERENT EXPERTS IN DIFFERENT
FIELDS, WE HAVE DEBT EXPERTS
INVESTING EXPERTS INSURANCE
EXPERTS AND DIFFERENT PEOPLE
HAVE DIFFERENT CERTIFICATIONS
YOU KNOW WE HAVE CFP EASIER
SYRIA, 65. WE HAVE PEOPLE WITH
THEIR INSURANCE
BROKERAGE LICENSE. IT DEPENDS
ON THE TYPE OF QUESTIONS AND WE
TRY TO DO A GOOD JOB OR OUTING.
>> WHO ANSWERS WILL QUESTION
ONE OF THE MARGINS THEY ARE
MAKING ON THE SERVICE.
>> YOU KNOW WE WE DON'T SHARE
FINANCIAL DATA IS WEARY, YOU
KNOW. WE ARE A PRIVATE COMPANY
ALL
THAT BUT THE YOU KNOW WE WERE
IN THE EARLY STAGES OF OF
BUILDING THE PRODUCTS A LOT OF
THE A LOT OF THE CAPITAL WE
SPEND TODAY IS ON ACTUALLY
BUILDING PRODUCT. LONG TERM YOU
CAN LOOK AT THIS AS MARGINS
OF A OF A TECH PRODUCT VERY
MUCH AS A TECH PRODUCT FOR
THERE'S A BUNCH OF OVERHEAD UP
FRONT AND IN THE VARIABLE COSTS
ARE PRETTY LOW.
>> CLARITY WAS BOUGHT BUY GOLD.
>> AND MEANT WAS BOUGHT BUY
INTO IT IS THERE A COMPANY THAT
HAS COME TO YET TO EXPRESS
INTEREST.
>> WE HAVE NO DESIRE TO SELL
ALBERT WE'D LIKE TO BE DOING
THIS FOR A VERY LONG TIME WE
THINK THERE'S AN INCREDIBLE
MARKET OPPORTUNITY TO IMPROVE
MENTAL WELLNESS.
I THINK I CAN SAY FOR MYSELF
BUT THE TEAM IS HAVING A BALL
DOING IT THERE SO MUCH TO DO
THERE ARE SO MANY CUSTOMERS TO
SERVE AND
I THINK WE IN THE COLLECTIVE
COMPETITORS OF BARELY GRAZE THE
SURFACE AND WE CAN BUILD SUCH
AWESOME EXPERIENCE IS THAT HAVE
NEVER BEEN BUILT FOR CUSTOMERS.