BOULDER, Colo., March 19, 2020 /PRNewswire/ -- Magnifi, an investment search platform using natural language and data science to simplify the vetting and selection process of mutual funds, ETFs and model portfolios, today announced David Pottruck, former Chairman of HighTower Advisors and former CEO of Charles Schwab, as Executive Co-Chairman. In addition, Magnifi announced several enhancements to the platform.
"Magnifi is an exciting platform and technology that is changing how advisors and self-directed investors discover and shop for investments," said Dr. Vinay Nair, CEO and Co-Chairman of Magnifi. "It is the future of investing, creating transparency and a better investor experience. David will help us identify, structure and execute on strategic partnerships as we scale."
At a time when there are more than 5,000 ETFs and 10,000 model portfolios in the market, Magnifi allows financial advisors, retail investors and portfolio managers to easily discover, compare and act on investments using natural language, rather than navigating a complex web of tickers, screens, and filters. For example, a user could search for funds related to topics like climate change, robotics or for criteria such as "passively managed low-risk but high-dividend yield funds."
Magnifi demystifies investing for consumers and simplifies the diligence and conversion cycle for advisors, giving them more time to spend with current and prospective clients. The company has added features to its premium product, including the ability for Magnifi to analyze a portfolio and make recommendations based on what is important to the investor, such as tax efficiency or reducing costs while maintaining the same exposure.
"For my entire career, I've been focused on transformational businesses that use technology to help investors achieve better outcomes," said David Pottruck. "Magnifi is exciting in many of the same ways that Charles Schwab was exciting when I joined in the mid-1980s. At Schwab, we pioneered democratizing access to mutual funds. Today, Magnifi is democratizing knowledge, giving individual investors and advisors access to information that until now was only available to those with access to large institutional research teams. The result is that more individual investors and professionals will be able to find investments that meet their goals and needs."
There were more than 25,000 searches on the Magnifi platform during January and February of 2020. Over this timeframe, the top search was "funds that do well when markets fall," reflecting current market volatility and sentiment.
About Magnifi
Magnifi is a financial search platform that is changing the way people shop for investments. The world's first semantic search engine for investing, 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. Magnifi provides open access to its natural language search capability to all investors.
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Prosek Partners
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SOURCE Magnifi
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