Newday Investing has created a new investment firm where you can begin investing with just $5. Not only can you start today with such a tiny balance, you can investing in up to six different mission-driven portfolios that align with the view of the future you’d like to help build.
Interview with Doug Heske, the CEO, and Alex Meek, the president of Newday Investing.
The following is the pre-interview with Doug Heske. Be sure to watch the recorded interview above.
What is the problem you solve and how do you solve it?
Interest in socially responsible or “impact investing” continues to grow: between 2014 and 2016, US assets under professional management using sustainable, socially responsible, and impact strategies grew 33% to reach $8.7 trillion.
This type of investing is especially popular among millennials who are focused on making values-based and socially responsible financial decisions. More than $60 trillion of wealth will be transferred to more than 75 million US-based millennials by 2040 (the global opportunity is even greater as millennials worldwide exceed 2 billion people).
At Newday, we believe that by investing in socially good companies, we can not only generate competitive returns but also drive meaningful change in the way people make their investment decisions. We also believe that socially responsible investing shouldn’t be limited to the very wealthy. We provide affordable, transparent, and easy-to-understand sustainable and responsible investment solutions.
For Newday, investing is as much about education as it is about funding socially responsible organizations. Users can change the world from their pocket by investing in proprietary portfolios with as little as $5. Those who are just beginning to enter the world of impact investing can still use the app without being prompted to invest, using it as a platform to educate themselves, discover new causes to care about, and connect with others who share their values.
More about Newday Investing:
Based in San Francisco, Newday is a technology-enabled asset manager that provides affordable, transparent and easy-to-understand impact investment solutions to the mass market with a minimum investment of just $5. By investing in socially responsible and sustainable companies, Newday aims to generate competitive return and, most importantly, drive meaningful change in the way companies in our portfolios adopt environmental, social and governance (ESG) practices and policies. In order to be effective in driving positive impact on corporate behavior, Newday adopts an active ownership model, engaging with companies’ decisions as they affect their stakeholders including communities, employees and shareholders.
Revenue model: Newday charges charges 1% on assets under management. However, the company gives back 5% of topline revenues to key nonprofit partners. Each Newday portfolio will benefit a particular, selected NGO. For example, Conservation International is linked to the Global Impact Equity Strategy and Lonely Whale to Oceans. The team is building additional functionality to facilitate donations and eventually users will be able to donate dividends and interest earned.
Scale: Newday’s platform and iOS app officially launched to the public on June 19.
Doug Heske ’s bio:
Doug brings more than 25 years of investment management and leadership experience to Newday, with a record of transforming new businesses for rapid expansion. Prior, he ran the Private Client business for Stone & Youngberg, LLC, was President and CEO of Nollenberger Capital and was CA Regional Director of Piper Jaffray Companies, Inc. He has served on the Executive Committee of the Securities Industry and Financial Markets Association’s (SIFMA) Western District since 1996 and was acting chairman from 2002—2004. He was also formally a member of SIFMA’s Regional Wealth Management Round Table and has served on FINRA’s District 1 Committee. Doug also sits on the board of several San Francisco based organizations such as the Oakland Museum of California.
Alexander Meek ’s bio:
Alex has spent his career as a founding member across startup ventures in consumer tech, consumer goods, media and finance. Alex began his career managing wealth for high networth families and covering hedge funds and institutions inequity sales at Deutsche Bank Alex Brown. Alex has served various positions in human rights as Treasurer and Board Member of the Red Ribbon Foundation, Mentor at UN-Habitat (United Nations Human Settlement Program), and a Volunteer at Community Health Africa a Poverty Solution. Alex earned a Major in Economics from St. Lawrence University and a MBA with a concentration in Entrepreneurship from Babson College -Franklin W. Olin Graduate School of Business.
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Devin is a journalist, author and corporate social responsibility speaker who calls himself a champion of social good. With a goal to help solve some of the world’s biggest problems by 2045, he focuses on telling the stories of those who are leading the way! Learn more at DevinThorpe.com!