Alinea Invest’s AI Powered Gen Z Wealth Management App

Navigating the modern financial markets is no easy feat. In an age where ways of managing our money have become exceedingly abundant, requiring extra mastery and knowledge in the matter, investing has become something seemingly intimidating that may not be suited for everyone.

This appears to be especially true for younger generations that have had no privilege of financial literacy. According to the CFA Institute, as of last May, about 41% of Gen Z Americans and Canadians only started investing due to fear of missing out (FOMO), presumably as they view peers who are more proficient in the field.

Alinea Invest, a fintech company founded by Anam Lakhani, Eve Halimi, and Daniel Nissenbaum, takes this trend into account when building its AI-powered, financial advisor-like investing app, with Gen Z and women-bound features tailored to the needs of its users.

Financial Changes

Founded during the COVID-19 pandemic following Lakhani and Halimi’s internship on Wall Street, the pair observed the younger generation’s investing habits, noticing that while the means of investing have become endless, no longer limited to standing in line at the bank, not knowing where to start is a pain point for many.

After seeing plenty of male students and colleagues’ ambitions in investing while women were filled with doubt, questioning if they could or should plunge in, Lakhani and Halimi deemed the pain point of financial illiteracy to be more widespread among young women, Gen Zs, and children of immigrants.

The realization that one’s social and economic levels play a significant role in accessing and understanding financial markets inspired Alinea’s founders to make an all-inclusive platform that empowers anyone and everyone in this incredibly diverse next generation of investors.

Observing the banks’ habits of making their services more personalized through chatbots during the pandemic also provided Alinea’s founders with insights into what customers of financial services require and are fond of. Their mission then became clearer and became possible due to a Y Combinator backing in 2021.

Alinea for Everyone

Alinea is equipped with smart recommendations based on users’ financial goals. Aiming to make the app friendly for beginners, Alinea’s algorithm, built upon the knowledge of AI and humans, learns of one’s investment goals and net worth to help make decisions for them.

With a goal to provide financial services and knowledge at the same time, the app features a page filled with insights on investing, including but not limited to articles on what the stock market actually is, when best to invest, common investing terms to know, and so on. Some of these articles can also be accessed through Alinea’s website.

While the app can essentially automate every transaction for users, providing them with all necessary info on their investments’ progression, users are also given the opportunity to make their own decisions as they gain more skill and knowledge in the field through the Discover page.

Users are able to create what Alinea refers to as “playlists,” in which users build their own direct indexes and manage exchange-traded funds (ETFs) as if they were handpicking music tracks and putting them into playlists. Users can customize their “playlists” around themes like climate change, female leadership, or abortion rights, as Alinea supplies information regarding the social or environmental impacts that each company users trade on.

With a user-friendly interface and features that offer personalized investment strategies, Alinea aims to break the wall between the younger generation and impactful investment in a fun and educational way.

To access financial education and automated investing, Alinea offers an annual membership of $120. Ensuring cybersecurity, Aliena is a Registered Investment Advisor with the SEC and works with Plaid, a fintech security company that provides an SSL and 256-bit encryption that fully protects user information.

@alineainvest

Replying to @nostalgia #greenscreensticker how to use the Alinea app #alineainvest #alineaapp #investingforbeginners #investingforbeginners2023

Alinea Invest recently raised $3.4M in a seed funding round, which the startup plans to use for the development and launch of its virtual AI assistant, further improving the younger generation’s investing experience. As of January 2024, over 225K people have downloaded the app, available on the App Store.

Meme & AI-Generated Picture

Job Posting

• Chime - Analyst, Reporting & Insights - Chicago, IL+ (Remote/Hybrid)

• Cloudflare - Researcher, Bot and Fraud Detection - San Francisco, CA+ (Remote/Hybrid)

• Gynger - Senior Full-Stack Software Engineer - New York City, NY+ (Remote/Hybrid)

• Integral Ad Science - Senior Data Analyst - San Francisco, CA+ (Remote/Hybrid)

Promote your product/service to Digger Insights’ Community

Advertise with Digger Insights. Digger Insights’ Miners are professionals and business owners with diverse Industry backgrounds who are looking for interesting and helpful tools, products, services, jobs, events, apps, and books. Email us [email protected]

Your feedback would be greatly appreciated. Send it to [email protected]