August 14, 2015 - Read the full Forbes article and watch the interview here: http://onforb.es/1Moaljm. Subscribe to this podcast on iTunes by clicking here: http://bit.ly/ymotwitunes or on Stitcher by clicking here: http://bit.ly/ymotwstitcher. Andrei Cherny, CEO and co-founder of Aspiration, is creating a whole new model for financial services in America. The idea is to provide the sorts of investment strategies employed by the wealthy to ordinary, working Americans. The strategies include impact investing. Cherny explains the companies philosophy, “We think of ourselves as a financial firm with a conscience. And there is no reason that needs to be a contradiction in terms.” “At Aspiration, we are first and foremost in the opportunity business. We want our customers to be able to get economic opportunity for themselves and give it to others at the same time. And that’s what they want too,” Cherny adds. “Every financial firm out there keeps yelling ‘Trust us!’ We’re the only one that actually trusts them [the customer],” he concludes. Aspiration allows its clients to choose how much to pay Aspiration for its services, offering that as a sign of trust. Other interesting features of the new model include devoting a portion of profits to charity and giving their clients the opportunity to do the same. Please consider whether a friend or colleague might benefit from this piece and, if so, share it.
#279: Would Your Financial Advisor Trust You Enough To Let You Decide How Much To Pay?