WiseBanyan is the world’s first free financial advisor. Launched in 2014, WiseBanyan has more than 24,000 clients and $150mn in AUM as at October 2018. WiseBanyan offers free portfolio management and financial planning, helping people reach their financial goals from start to finish. Clients start with a goal (think rainy day fund, first home, car, kid’s education, or retirement) and WiseBanyan takes care of the rest, from creating the financial plan, to building the investment portfolio, to asset allocation, executing deposits, dividend management, and rebalancing. Best of all, WiseBanyan eliminates two of the largest barriers to start saving and investing: high minimums and high fees. Instead, WiseBanyan has no minimums to start (can start with just $1) and is free. WiseBanyan focuses on transparency, being fully-aligned with clients, and building a new kind of financial services company. As a result, WiseBanyan is one the roboadvisors most popular with Millennials. WiseBanyan is located in both Las Vegas and New York City.
WiseBanyan’s co-founders – Herbert Moore and Vicki Zhou – combine quantitative finance with consumer internet. Both have previously founded companies, and are engineers leveraging extensive financial services experience. Their team is comprised of problem solvers excited to create friendly and easy-to-use solutions for millions of people to achieve their next financial goals.
Battle Born Venture’s co-investors in the company include strategics, such as John Hancock and CFSI with founding partner JPMorgan Chase & Co.
In October 2018, WiseBanyan was purchased by a subsidiary of NYSE-listed Axos Financial, Inc, so providing Battle Born Venture with its third exit.