With so many Blockchain, Bitcoin and ICO questions coming to us from LPs and others, we thought that focusing this issue on these areas would help all of us stay on track.
As the year comes to an end, we have much to celebrate at Vestigo. The fund is well on its way to hitting our target. We have some amazing LPs who are already helping us identify new investment opportunities. Our portfolio companies’ leadership teams are making significant progress growing revenues. We’ve asked all partners to share their own reflections on what they’re most thankful for and what has brought them the greatest happiness.
Dave & Mark
In this month’s Envision Interview Mark Enriquez from Frictionless Markets discusses Initial Coin Offerings. He reviews everything from what they are, to examples of how companies are using them and the difference between Kickstarter and an ICO.
The market continues to be driven by blockchain hype, surging Bitcoin prices and confusion over ICOs. We thought we would share what we have learned about these trends and why they are connected. We acknowledge this may be a bit basic for some while enlightening for others.
See a demo from Vestigo Board of Advisors member Anders Brownworth on how to use the blockchain. This is a roll-up-your-sleeves, coding demonstration designed in a way anyone can follow. This will give you bragging rights at cocktail parties to tout your prowess as a blockchain hacker.
It also shows the need to understand what technology can and cannot do for your business — something we dig into with our LPs and portfolio companies on a regular basis.
As a classic MIT technology guy, I am most thankful for the ways data can make the world a better place. A great example is everything we have done at Vestmark to lower costs for investors. The remarkable success we’ve had at Jobcase getting people hired is another. The possibilities for the future of FinTech and the consumer economy are endless.
Reflecting back on 2017, it’s been an amazing year for me and my family. Highlights include the amazing trips we were able to take to faraway spots like Cuba, New Zealand and Botswana among others. We are so thankful for these opportunities to see the world in its infinite variety.
The article, Morningstar’s Tax-Cost Ratios Beat Its Fund Rankings describes how financial advisors rather than allowing clients to assume the fallacy of performance outliers, should be helping them with tax-smart asset location.
Cameron Winklevoss, thought to be one of the largest holders of bitcoin, thinks the cryptocurrency’s blazing gains this year are just the start. He predicts it will rise as much as 20-fold as investors come to view it as an upgrade to gold.
The topic of robos often dominates conversations on what is happening in wealth management. They have done a good job of repricing the market but it is clear that the winning model includes human help and understanding.
After a long career at LPL Financial, Mark is now fully engaged at Vestigo. He is loving the entrepreneurial life, helping start-ups and working with our LP’s.
Who needs a corner office when you have a bull pen of great partners like Dave, Ian and Mike?
The topic of robos often dominates conversations on what is happening in wealth management. They have done a good job of repricing the market but it is clear that the winning model includes human help and understanding. This drives the need for new tools and ideas to shape advisor practices. This is the focus of this issue.
Check out the interview with Andy Putterman on the state of wealth management.
Dave & Mark
For advisors, being able to help retail clients answer these questions is a step on the path to success. If I learned anything from my experience leading one of the country’s largest independent brokerage and advisory firms, it’s that the best advisors know how to get to the right answers.
What the world needs now is…. a way to lower the cost of advice. Being Chairman of the Vestmark board since its formation, I have seen the power of lowering costs at work at leading financial services firms.
We continue to feel great about the opportunities for value creation for investors in early stage investing for FinTech.
We are leveraging our Cogo Labs data insights as well as our extensive network. We have received over 300 business plans from some great entrepreneurs looking for our help.
We have made three investments. Two of them have had significant write ups in value recently.
Fundraising has picked up momentum as we meet more and more investors looking for sector-specific, early-stage FinTech funds. We have lots of corporations and institutional investors digging into the data room and engaging with us in conversation.
This issue will cover the gig economy. We’ll share our thinking on this growing, important new work trend and insight into the ways employees are reshaping how they work. Very empowering.
Dave & Mark
Work is changing for so many professionals. Welcome to the hustle — whether it’s a side gig to supplement full-time traditional employment or multiple gigs to keep things interesting and provide different experiences.
I recently had the honor to represent Vestigo Ventures at the Massachusetts Cyber Security Forum. This first invitation-only event of its kind was organized by Governor Baker’s office. It brought together the state’s best cybersecurity companies, public sector and state government agencies, R&D centers and universities, and members of the investment community to discuss the value of private and public partnerships
Vestmark has been on a tear for a long time now. The company now has more than 2.1MM customer accounts and over $700B of assets on the platform. Vestmark continues to grow at an incredible clip; top line revenue grew an amazing 42% in 2016, and the company is on pace for another strong year in 2017.
Paradigm-shifting forces such as cognitive technologies and the open talent economy are reshaping the future workforce, driving many organizations to reconsider how they design jobs, organize work, and plan for future growth.
I have been impressed by the hard work and engagement of our board of advisors for Vestigo Ventures. I have seen those leaders step up to provide insight during due diligence activities for start-ups. They have helped our portfolio companies gain insights and new business. They provide valued feedback to the four partners — always with a focus on getting returns for our investors.
You may have worked on building great teams in a number of different settings — whether start-up, business enterprise or nonprofit. Issues surrounding building great teams commonly come up, no matter the setting.
The mentor who has had the greatest impact on my life was a New York City Firefighter. He never worked on Wall Street, he did not go to college, and to be honest, he was not a stellar high school student either. He spoke very few words during our mentorship. He has always been a man of action and very few words.
NICSA is pleased to announce the winners of the 2017 NICSA NOVA Awards. These awards showcase excellence in innovation and leadership across a number of categories within the asset management industry.
They’re smart and successful, and to say they are ambitious would be a huge understatement. They are the Boston Business Journal’s 2017 40 Under 40 honorees and, despite their youthful ages, each of them is already making a significant positive impact in their workplaces and communities in Greater Boston.
We have not seen the lazy days just yet at Vestigo. We have continued our parade of start-ups coming looking for funding which makes for a busy August. We have been working with many prospective LP’s and have had a number of family offices and individuals joining the fund. August is not so lazy.
We also plan to pick up a book on FinTech, Big Data and various technology topics. While these may not be as gripping as the latest Amor Towles novel (check out A Gentleman in Moscow), they will give us insight into how we should interact with the fast moving world of technology. Any suggestions are welcomed from our readers.
Dave & Mark