NestEgg
2020
Mobile App
Github: https://github.com/Nest-Egg-Advisors
Background:
As a parent, I have found that there are limited ways to start investing for my child. There are some solutions such as going to a bank or brokerage and opening up a 529 or custodial account but then I'd have to manage it myself and pay high fees. There a some robo-advisors that offer custodial accounts but even those are also too limited in what they allow you to invest in since its usually just a prebuilt portfolio they manage.
Challenge:
Offering parents a more customizable way to invest other than prebuilt portfolios and ESG portfolios.
An intuitive user friendly UI/UX that reduces friction and doesn't offer gimmicks.
Creating a KYC flow that is frictionless and engaging.
Low cost to the end user
Solution:
Customizable Industry/Company Selection/Avoidance: We have a three screens where a user can select industries they want to avoid, industries they want to "vote with their dollars", and companies they want to avoid investing in.
Engaging Visuals for UI/UX: Finance apps are pretty boring and this app is one that automates investing by investing the user's spare change so this means the user doesn't need to spend alot of time on this app. So to make it engaging, we implemented larger hero photos for screens to invoke more emotion and hopefully gain trust when the user is going through the setup flows and make the experience overall more pleasant.
Reusable KYC Flow: I wanted to create a flow with engaging UI/UX so that way I could reuse the flow and integrate it into other investment product offerings. Whether it is B2C or a B2B application, I wanted a way that we could repackage what works best for us and offer it to other markets and products.
AUM Fees: Many apps are charging both AUM fees with monthly fees on top. I wanted to create an app that is easy to use for the user, doesn't need to continuously offer new gimmicky features, but just performs well out the box. We plan on charging a low scaled AUM fee with no monthly cost to the user. To offer more hands off investing, I plan on integrating AI LLMs to help with portfolio creations and offer this as a PRO feature for a monthly cost of $5.
Outcome:
Since the app is still being built, I am continuously updating the UI/UX and presenting to a small group of users. The goal is to get a working prototype in Figma that is ready to showcase to larger groups for testing. The code is about 80% done for the app and I'm using a library called NativeBase for my UI components which makes theming simple when I need to update the styling.
