A younger coworker told me something striking last year: if it weren’t for RobinHood, nobody in his social circle would be investing, at all, due to financial crisis overhang and distrust of the industry. That strikes me as highly suboptimal, but RobinHood is trying to sell...
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...that financially unsophisticated customers should daytrade options spreads on their phones. This, this is going to work out very poorly for most of them. It appears that Motif is trying to sell “You pick a theme you like, like e.g. SaaS, and we’ll math out a portfolio.”
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And if the opportunity to invest in e.g. “Just give me video games” gets people to actually save $1k a month and underperform an index by probably 50bps over the long run... maybe that isn’t *entirely* against their interest? 25 year olds become 35 year olds and learn.
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Better to learn and then do the more optimal thing like a Vanguard retirement fund or roboadvisor with the portfolio that has underperformed but exists because you socked away money because it was fun than wake up at age 37 with no investments.
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In the long wrong, the only winners will be the ones collecting the portfolio management fees.
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If they buy a basket of stocks because they sounded cool and don’t trade in and out of them in the long run they’ll probably underperform but still have relatively decent outcomes because dartboarding the market works over the long run, superior to not saving or keeping in cash.
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Whatever it is, it can’t be as ugly as the X-Windows widget toolkit.
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In power user mode, you can define your own basket of funds, down to allocation percentages, and buy the entire basket for a single commission. There's no one else selling a pure play FAANG fund, with 20% allocations, e.g.
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