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Rating:Startup Promises Funds it is a Matchmaking Gem Not Rated 5.0 Email Routing List Email & Route  Print Print
Monday, May 24, 2010

Startup Promises Funds it is a Matchmaking Gem

News summary by MFWire's editors

An online fund screener called Jemstep matches retail investors with mutual funds based on personal investment preferences. Barron's profiled the firm this weekend, which is in its final testing phase and preparing to launch its beta version.

"We think of it [Jemstep] as Morningstar meets eHarmony," said Chief Operating Officer Kevin Cimring in the article.

Instead of basing recommendations on growth rates or other sophisticated measurements, Jemstep uses an algorithm to match a user's investment styles and with a line-up of 18,000 mutual funds. Fund selection also takes into account when investors will need the assets. The company will also soon add stocks and ETFs to its offering, according to the Jemstep website.

Jemstep is a register investment advisor and makes its revenue by selling ad space and collecting referral fees from broker-dealers. 

Edited by: Daniel Tovrov


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