TIFIN, a fintech platform shaping the future of investor experiences, announced today that its subsidiary, Magnifi, the world’s first natural-language-powered (NLP) investment marketplace has reached 10 million searches and introduced brokerage services that allow its users to invest without any direct commissions. Magnifi is also announcing that it does not resell order flow for any indirect charges to its users and aims to become the platform for investors, not traders.
TIFIN also announced that Cathie Wood, the CEO of ARK Investment Management LLC (“ARK”), will be joining the TIFIN Board of Directors.
“I am excited to be involved with Vinay and the entire TIFIN team. I believe TIFIN is helping guide the asset and wealth management industry through the shift towards end-investor needs, preferences, and demands,” said Wood. “I look forward to continuing that journey as a board member now.”
“We are delighted to welcome Cathie to our Board. From the beginning, she saw the potential fintech has to serve investors,” said Dr. Vinay Nair, founder and CEO of TIFIN and the co-founder and Chairman of Magnifi. “An example of this new frontier is Magnifi, which we believe can revolutionize the shopping experience in the world of investments. We hope to be the platform for investors who want to discover, compare, and invest, and to be the conduit that democratizes intelligence and enables better investment outcomes for a broad audience.”
Magnifi also has its sights on disrupting the traditional brokerage business model that often drives users to trade with short time horizons, by encouraging them to become investors with longer horizons.
Magnifi’s proprietary technology is built on the foundation of semantics and investment intelligence making it easy for both amateur and seasoned investors to find, compare and act on investment options. In an era with thousands of ETFs, mutual funds, stocks, and model portfolios to choose from, Magnifi demystifies and simplifies investing, providing insights and information that enable users to make investment decisions in areas that they understand and find relevant and interesting.
“We’ve seen a dramatic increase in searches and overall traffic on our site, going from a million searches just four months ago to a total of ten million today,” said Erez Yereslove, Chief Marketing Officer of Magnifi who joined Magnifi after stints at marketplaces such as eBay and eHarmony. “Now – with the addition of direct investing — we can help and support investors at every step of their journey to unlock new opportunities not available to them before based on AI-powered meaningful, informative and knowledgeable decisions.”
For more information about Magnifi or to open an account, please visit https://magnifi.com.
About Magnifi
Magnifi is a financial search and ecommerce platform that is changing the way people shop for investments. The world’s first semantic search engine for finance, the platform helps financial advisors, portfolio managers, and everyday investors find, compare, and act on investment options. In an era with thousands of ETFs, mutual funds, stocks, and model portfolios to choose from, Magnifi demystifies and simplifies investing, providing insights and information that save time and help investors make smarter decisions. Learn more at www.magnifi.com
About TIFIN
TIFIN, also known as THE TIFIN GROUP, is shaping the future of investor experience with a platform of intelligent products that recognize the uniqueness of each investor. Powered by an ecosystem of leaders in finance and technology, TIFIN builds next-gen products by combining investment intelligence, data science, and technology to make investing a more powerful driver of financial wellbeing.
About ARK Investment Management LLC (“ARK Invest”)
Headquartered in New York City, ARK Investment Management LLC is a federally registered investment adviser and privately held investment firm with $74 billion assets under management as of March 31, 2021. Specializing in thematic investing in disruptive innovation, the firm is rooted in over 40 years of experience in identifying and investing in innovations that should change the way the world works. Through its open research process, ARK identifies companies that it believes are leading and benefiting from cross-sector innovations such as robotics, energy storage, DNA sequencing, artificial intelligence, and blockchain technology. ARK’s investment strategies include: Autonomous Technology and Robotics, Next Generation Internet, Genomic Revolution, Fintech Innovation, Space Exploration, 3D Printing, Israel Innovative Technology, and the overall ARK Disruptive Innovation Strategy. For more information about ARK, its offerings, and original research, please visit www.ark-invest.com.
MEDIA CONTACTS:
TIFIN/Magnifi:
Deborah Kostroun
deborah@zitopartners.com
201.403.8185
ARK Invest:
Lisa Marie Dodd
ldodd@ark-invest.com
646.668.4140
SOURCE Magnifi; TIFIN