How We're Building

Series B: Just the Beginning

By :
Samir Vasavada
Samir Vasavada, Co-Founder and CEO of Vise, explains the story up until the Series B announcement and why it is only the beginning for Vise.

Today we announced our Series B financing round, led by Sequoia Capital. Sequoia has partnered at the earliest stages with category defining companies like Google, Apple, Oracle, and now Vise. I am proud to say that over the past 8 months, our team demonstrated the vision, resolve, and grit necessary to deserve renewed and re-upped validation from them and the rest of our tremendous backers: Allen & Company, Greenoaks Capital, and several exceptional individuals. While it is an exciting milestone, I wanted to write this post to stress an important message: this is just the beginning.

 

In 2014, Runik and I were a pair of teenagers from the Midwest who developed an early obsession with finance, machine learning, and the applications of artificial intelligence. Fast forward a few years and we somehow found ourselves consulting with large banks, asset managers, and insurance companies, providing a front-row view to the dynamics on Wall Street. This led to an important realization: the M&A deals headlining the Wall Street Journal were not the engine powering the financial industry. It was wealth management. Financial advisors were the storytellers, coaches, friends, and trusted confidants who made the jargon and complexity from Wall Street make sense to regular people – just like Runik and I had done with artificial intelligence to our audiences.

 

We saw financial advisors as the heartbeat of financial services, and founded Vise on a contrarian view in Silicon Valley circa 2016: that financial advisors would be the last – not the first – role in financial services to be replaced by machines. No technology could match an advisor’s ability to communicate, empathize, and relate to their clients. Instead, the biggest problem in the industry was the monotony of paperwork, operational processes, and administrative tasks that distracted advisors from what they did best. These problems were compounded for the best advisors on Wall Street, who broke away from the large banks, trading infrastructure and support in pursuit of freedom and entrepreneurship.

 

Runik and I worked with our team to build a platform that would support these advisors by allowing them to create highly customized, automated investment portfolios for their clients. We used AI to play the role of investment analyst, taking inputs from the financial advisor to select a portfolio of single stocks that would best help clients meet their financial goals. Excitement from the advisor community and the elimination of trading commissions on brokerage platforms in late 2019 gave us the tailwinds we needed to raise outside capital.

 

Since then, momentum has accelerated. Our team has grown from 6 to over 50, combining talent from the world’s best investment firms (BlackRock, Citadel, Bridgewater, JPMorgan, Morgan Stanley, Merrill Lynch, DFA, and Vanguard) and tech companies (Facebook, Amazon, Google, Stripe, Uber, Twitter, Airbnb, Dropbox, Compass, and Affirm). Our advisory board boasts the world’s most influential industry executives and academics. Our product features have grown considerably, and most importantly, we have gained the trust of many top-tier RIAs who we serve as clients. Their delight, demonstrated by feedback like this from Aurelien Capital Partners, is my primary measure of success:


Vise is the first portfolio manager we’ve encountered that thoughtfully constructs portfolios based on each clients specific risk profile and funding goals. The main measure of success for each portfolio is its ability to track towards our clients goals, not some arbitrary benchmark.

 

Despite our progress, we have no illusions that the future will be easy. Within the past two months, each of our largest competitors were acquired by massive, well-resourced incumbents and will benefit from new channels of distribution. Our round of funding will draw scrutiny from competition, consultants, and industry skeptics. Copy cats will attack our client base.

 

But we’re ready. Over the next 12 months, our team will double in size as we invest our newly raised capital to continue to build out the world’s best combination of tech and investing talent. We will be available on more advisor platforms, and will continue to roll out product features and capabilities to deliver the world’s best personalized investment platform for financial advisors. 


This is just the beginning.


Sign up to keep up with new updates and content!

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
ViseFeatures
1 World Trade Center, Suite 84A
New York, NY 10007
Legal / Privacy Policy
Copyright © 2020 Vise, Inc.. All Rights Reserved

Vise AI Advisors, LLC is an investment adviser in New York, New York. Vise AI Advisors, LLC is registered with the Securities and Exchange Commission (SEC). Registration of an investment adviser does not imply any specific level of skill or training and does not constitute an endorsement of the firm by the Commission. Vise AI Advisors, LLC only transacts business in states in which it is properly registered or is excluded or exempted from registration. A copy of Vise AI Advisors, LLC’s current written disclosure brochure filed with the SEC which discusses among other things, Vise AI Advisors, LLC’s business practices, services and fees, is available through the SEC’s website at: www.adviserinfo.sec.gov.

Please note, the information provided on this website is for informational purposes only and investors should determine for themselves whether a particular service or product is suitable for their investment needs. Please refer to the disclosure and offering documents for further information concerning specific products or services.

Nothing provided on this site constitutes tax advice. Individuals should seek the advice of their own tax advisor for specific information regarding tax consequences of investments. Investments in securities entail risk and are not suitable for all investors. This site is not a recommendation nor an offer to sell (or solicitation of an offer to buy) securities in the United States or in any other jurisdiction.

This site may contain forward-looking statements relating to the objectives, opportunities, and the future performance of the U.S. market generally. Forward-looking statements may be identified by the use of such words as; “believe,” “expect,” “anticipate,” “should,” “planned,” “estimated,” “potential” and other similar terms. Examples of forward-looking statements include, but are not limited to, estimates with respect to financial condition, results of operations, and success or lack of success of any particular investment strategy. All are subject to various factors, including, but not limited to general and local economic conditions, changing levels of competition within certain industries and markets, changes in interest rates, changes in legislation or regulation, and other economic, competitive, governmental, regulatory and technological factors affecting a portfolio’s operations that could cause actual results to differ materially from projected results. Such statements are forward-looking in nature and involve a number of known and unknown risks, uncertainties and other factors, and accordingly, actual results may differ materially from those reflected or contemplated in such forward-looking statements. Prospective investors are cautioned not to place undue reliance on any forward-looking statements or examples. None of Vise AI Advisors, LLC’s or any of its affiliates or principals nor any other individual or entity assumes any obligation to update any forward-looking statements as a result of new information, subsequent events or any other circumstances. All statements made herein speak only as of the date that they were made.

Certain hyperlinks or referenced websites on the Site, if any, are for your convenience and forward you to third parties’ websites, which generally are recognized by their top level domain name. Any descriptions of, references to, or links to other products, publications or services does not constitute an endorsement, authorization, sponsorship by or affiliation with Vise AI Advisors, LLC with respect to any linked site or its sponsor, unless expressly stated by Vise AI Advisors, LLC. Any such information, products or sites have not necessarily been reviewed by Vise AI Advisors, LLC and are provided or maintained by third parties over whom Vise AI Advisors, LLC exercises no control. Vise AI Advisors, LLC expressly disclaim any responsibility for the content, the accuracy of the information, and/or quality of products or services provided by or advertised on these third-party sites.

Any reproduction or distribution of this website, as a whole or in part, or the disclosure of the contents hereof, without the prior written consent of Vise AI Advisors, LLC is prohibited.

Monte Carlo simulations have material limitations. Market movements may be more or less extreme and more or less frequent than those that occur in the model. Certain asset classes and investments have shorter histories than others and may not be as reliable. Market Events and other factors may influence the reliability of the potential outcomes.

All investment strategies have the potential or profit or loss. Changes in investment strategies, contributions or withdrawals, and economic conditions, may materially alter the performance of your portfolio. Different types of investments involve varying degrees of risk, and there can be no assurance that any specific investment or strategy will either be suitable or profitable for a client’s portfolio. There are no assurances that the portfolio will match or outperform any particular benchmark.

Back-tested performance results have inherent limitations, particularly in the fact that these results do not represent actual trading and may not reflect the impact that material economic and market factors might have placed on the advisor’s decision-making if the advisor were actually managing the clients’ money.

Nothing provided herein constitutes tax advice. Individuals should seek the advise of their own tax advisor for specific information regarding tax consequences of investments. Investments in securities entail risk and are not suitable for all investors. This is not a recommendation nor an offer to sell (or solicitation of an offer to buy) securities in the United States or any other jurisdiction.

You must be a US-Registered Investment Advisor to use the Vise Platform.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.