Unifimoney is on a mission to help ensure the long term financial success of millions of Millennials who are not getting the returns they deserve from their own money.
Money left in checking and savings accounts paying little or no interest and unredeemed rewards points from spend is money working for the bank. That same money in a long-term, diversified and low-cost investment fund is your money working for you not the bank.
The stock market is one of the most powerful mass wealth creation tools in history. The S&P 500 achieved average returns of 11.5% per year for the last 40 years. Even the best performing savings accounts have barely managed an average return over 3% and property 4.5%.
And yet, less than a third of Millennials invest in the stock market and fewer still among the under-30 crowd. The issue is, one's 20s and 30s is exactly the moment to begin investment. Even small contributions have the chance to benefit the most from compound growth — the most powerful force in the universe according to Einstein.
Saving and investing is still hard, complex, repetitive and boring work and without a quick reward does not have the same dopamine rush that reinforces the behaviour. It might well be decades before we see that money again, and whilst it will most likely be a substantially larger sum of money, our minds just don’t work that way. We are strongly biased towards immediate rewards — it’s called hyperbolic discounting: the further away from receiving a reward we are, the lower the value we perceive it to be.
How do we break this cycle and help put more people on the path toward long-term financial resilience?
Unifmoney believes that the key lies in making saving and investing as easy as (if not more so) than spending money. The payments industry has used tech to transform the way we pay to take all the friction out of spending; Unifimoney is using tech to transform the way we save and invest, making it easy, effortless and automatic.
When you open a Unifimoney account, you get access to a high-yield checking account, credit card and investment platform. Each month, customers automatically fund their investment account through deposit interest, cashback and transactions rounding, in addition to a monthly minimum contribution of $25.
Now, Unifimoney has partnered with Quantel AI Inc. a New York-based InvestTech company founded by investment industry veterans who have created a consumer investment platform using Quantitative Finance and AI called TenjinAI™.
The analytical engine of TenjinAI™ will evaluate the risk profile of the customer and provide a personalised portfolio matching investment strategy to the customer’s profile. The platform offers 3 different management strategies based on the frequency with which the engine dynamically updates the portfolio and the products included in the portfolio.
The 3 Products are
Unifimoney customers are automatically enrolled in TenjinAi Basic and can at any time upgrade their plan to either TenjinAi Advanced or Pro.
TenjinAi Basic is priced at 0.15% per year of funds under management, paid monthly (40% lower than Wealthfront, Betterment or M1), and TenjinAi Advanced and Pro are priced at 0.30% and 1.00% respectively per year.
Annual percentage costs and relative historical performance is shown below (period Jan 2018 to Sep 2020)
Full list of risk profiles and relative performance is shown below:
Adding the TenjinAi engine to the robo-investment platform gives Unifimoney’s users unprecedented choice in how their portfolio is managed and access to technology that is usually the exclusive domain of professional trading companies.
Users who want to also trade equities themselves can do so commission-free, and soon Unifimoney will be adding both a full suite of crypto currencies and precious metals trading.
Unifimoney is building the most comprehensive money management app on the planet; the partnership with Quantel AI is one more way we're making Unifimoney the most powerful wealth builder on the market.
We are now slowly rolling out our beta program. Be one of the first to get access by signing up today.Request Access