NestEgg is launching an offering focused on helping financial institutions provide scalable online financial services to their clients. We offer the best-in-class technology for automating financial advice. See our newly launched website, http://www.nesteggfintech.com.
Our offering starts with education and financial literacy, focusing on providing answers to clients and generating return on marketing for institutions. Our second product is a lead-generation portfolio builder, which modernizes financial advisor practices and connects users to asset allocations, and complete user profiles to advisors. The NestEgg "crown jewel" is a full private-label online wealth management RIA, taking the best practices and learning of running a consumer-facing online investment advisor. Working with an exclusive list of financial partners is an imperative, and will accelerate the adoption of smart, sophisticated online financial advisory applications to benefit the consumer.
I am excited about how far the company has come since its founding in 2010. It's been an invaluable learning experience about the industry, the mechanics of running a small business, the ups and downs of entrepreneurship, and our conviction in the ability to build something new and innovative.
Some highlights to date: (1) becoming a Registered Investment Advisor with the SEC and creating a business relationship with Schwab, (2) launching an online investment management magazine, (3) a product beta with detailed user portfolios and responses. We have been semifinalists in the FinTech Innovation Lab sponsored by NYC, traveled to Singapore for the Innotribe Startup Challenge, and spent a great semester in the Greenhouse Entrepreneurship Program at Columbia Business School.
Along the way, we’ve met awesome colleagues, sophisticated financial partners, and smart venture capitalists. Everyone pitched in with introductions, suggestions and extra hands. As a result, we are working with Wall Street firms, banks and credit unions, and independent financial advisors, deploying software with clients, and building with an eye for the future. NestEgg FinTech is the next step.
“Market capitalization” (often abbreviated to “market cap”) is a financial term referring to the size and value of a publicly traded firm. It is calculated by multiplying the price of the firm’s stock shares by the number of the firm’s outstanding shares (publicly issued shares that have not been bought by the company itself). For example, if IBM stock is being sold for $182.11 per share, and there are a total of 1.19 billion shares outstanding, IBM’s market capitalization is $216.69 billion.