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If using a social platform made access to financial services and products cheaper, would you join?

If there's enough interest, we'll build this!

Most social platforms work with advertisers so that users can connect with one another for free. We want to do that too, but we also want advertisers to help us make financial solutions like stock trading and crowdfunding more affordable.

1. Cheaper products

Socialinvestor would generate profit through advertisements instead of increasing the price of financial products as other platforms do, which would let us offer financial solutions to users at a lower cost. If you didn't want ads or didn't want to be social, you could avoid both and still get access to cheaper financial solutions by supporting the platform through a monthly ($2.50) or yearly subscription ($29.95). (Learn more about offered services and products)

2. Partnerships

At launch Socialinvestor wouldn't provide any financial services of our own - the required licences are too expensive. Instead, we would partner with existing, high quality providers so that users could access multiple financial solutions from the one platform. If Socialinvestor experiences great growth and support, we could in time secure our own financial licences and expand our range of financial solutions.

3. A Better Experience

The profit structure of most financial service providers today means that it makes sense for them to build quality platforms that target customers with higher income and budgets. Our profit structure isn't influenced by our customers' level of income, which means we can focus on creating a great experience for users with lower incomes, such as our Gen Y target market.

How Socialinvestor works

Socialinvestor could work to lower the costs of financial products and services, but the platform has the same problem all new social platforms have: why would users be socially active on this platform if they already have Facebook, Twitter, Instagram, etc.?

Our solution: active users get cheaper services

It would work like this. From day one we'd be a quality social platform that hosts our partners' financial services and products in the one place. Those financial solutions would be offered at the price our partners normally charge, plus 2% to help cover our own costs. If a user was socially active on the site (by posting a couple of photos and making a few comments each month, for example) the 2% additional charge would disappear.

Why take this approach? Because advertisers only care about advertising on platforms where users are active. If we didn't have some way of encouraging users to be socially active on Socialinvestor, we couldn't support ourselves through ads and we couldn't grow to eventually get our own financial licences and help make financial services more affordable for our users.

Financial products and services like stock trading, crowdfunding and managed funds can be cheaper than they are today. Financial solutions can be more enjoyable and better targeted to meet the needs of lower-income individuals. If you want to see this happen, show us you're interested by joining our waiting list.

Socialinvestor Other Providers
Monetises User presence User wealth
Targets Customers with lower income and budgets, e.g. Gen Ys Customers with greater income and budgets, e.g. Baby boomers

Because Socialinvestor wouldn't be influenced by the income level of its users, we would use this advantage to develop a quality platform that meets the needs of the generally lower-income Gen Y demographic. That said, we could hopefully also be of value to others such as low-income families or Gen Xs looking to become more financially proactive.

Issues we can address

 
Can't afford to engage - 28.46%
Don't understand - 29.23%
Dissatisfied w. existing solutions - 25.49%

83%

Other issues

Afraid of losing money - 5.39%
Are financially secure - 5.39%
Lack interest - 4.62%
Parents assist - 1.54%

17%

(Results from 73 in-person interviews with Australian Gen Ys)

Who

Nic Pridan
Co-founder
A recent Commerce graduate, Nic is passionate about improving the financial industry for lower income customers. His focus is on making Socialinvestor's financial products as affordable as possible and designing enjoyable social functionality.
Llewellyn Marriott
Co-founder
Llewellyn developed a passion for software at an early age and became employed as the lead developer for a local IT firm shortly after high school. With experience in building software solutions for hospitals, medium-sized businesses, and in-house procedures, Llewellyn now capably oversees software development at Socialinvestor.

QA

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Get Involved

Socialinvestor is just an idea at this point. If you like the idea and would be willing to be active on the platform early on, you can support us now by joining our waiting list. If enough Australians join, we'll get to work!

General
contact@socialinvestor.com

Advertising
advertising@socialinvestor.com

Media
media@socialinvestor.com

Socialinvestor, 2016