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General Information

Websitecovestor.com
Blogblog.covestor.com
Twitter@covestor
CategoryConsumer Web
Phone866.825.3005
Email
Employees
DescriptionPortfolio sharing service

Offices

New York, USA
1370 Broadway
New York, NY, 10018
USA

People

CEO
Chairman
Chief Product Officer
Board
Investor
Board
Head of Editorial

Former People

Funding

TOTAL $11.1M
VENTURE FUNDING TOTAL $11.1M
Angel, 6/07
Roger Ehrenberg
$1M
Series A, 4/08
Union Square Ventures
Spark Capital
Amadeus Capital Partners
$6.5M
Venture Round, 2/10
$3.6M

Competitors

Tags

Covestor

Covestor is an online platform that opens up traditional money management services to a wider public by allowing its members to mirror the strategies of proven investors, trade for trade, from the comfort of their own accounts. Users can automatically match the real trades of successful investors, or can share portfolios and earn fees for the hard work they are already doing.

Great Individual or professional investors join Covestor to share their investments. They either manage Investment Models (where they earn fees for each subscriber who mirrors their portfolio) or can build a free Personal Track Record of their own brokerage account. Stock portfolios are tied directly to members’ actual equity accounts (eTrade, Scottrade, etc.). Using a secure data import provided by Yodlee, allowing members to automatically create a verified record of their performance.

Clients of Covestor, an SEC registered Investment Advisor, open Mirroring Accounts where the moves of the investors they choose are auto traded for them in their own accounts in near real time. They can choose from hundreds of highly respected professional money managers, as well as non-professionals with proven track records. Covestor charges a simple management fee for each subscription, and shares the fees it generates with the managers.

Over $500 million dollars in securities are shared through the service. Its members are located in more than 100 countries and hold positions in over 10,000 different securities. All securities in mirroring accounts are purchased in the clients name and held in custody at an independent broker-dealer.

Competitors include Fidelity, Puttnam, Oppenheim and Vanguard.

Milestones

Videos

Screenshots

Products

Covestor Mirroring Account

Websitesite.covestor.com/invest
StageLive
Launch DateJuly 22, 2009

CVIM is an open platform that allow users to automatically invest alongside individual and professional investors.

CVIM licenses real time trading data from investors to make models that give users information with which they can auto trade and manage their account.

The CVIM console gives the user a view of their positions and performance, per model in their account, like a personal fund of funds.

Covestor screenshot
Above: Covestor Mirroring Account Screenshot -- #1
Uploaded: 7/22/09

Covestor.com

Websitecovestor.com
StageBeta
Tags social-stock-picking
Covestor screenshot
Above: Covestor.com Screenshot -- #1
Uploaded: 6/16/10

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Covestor

Sources

  1. thealarmclock.com [edit]
  2. techcrunch.com [edit]
  3. SEC D (sec.gov) [edit]
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Last Edited 5/9/12

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