In March of 2020 as the Covid-19 pandemic swept through New York City, Pascal Cevaer-Corey, Pave Finance's co-founder and CEO, was becoming increasingly concerned about wealth inequality.
His frustration surrounding the lack of access everyday people had to high-quality financial tools had been growing steadily over his tenure as a McKinsey consultant. "I found it unfair that people who already had significant sums of money were able to access superior technology and personalized guidance while everyone else was left with mutual funds and advice from friends," Cevaer-Corey recalled. "It took the pandemic for me to realize I needed to do something about it."
In the following months, Pascal teamed up with Peter Corey, a former hedge fund manager, and Stephen Evans, a quantitative portfolio manager, who have roughly 70 years of investment experience between them. The three decided to dedicate their time to reducing the wealth gap instead of increasing it. At that point, Pave was formed with the mission to promote equality by democratizing access to top-tier financial tools.
Now, that vision is coming to fruition. This October, Pave is launching a personalized and algorithmically driven financial advisor that helps people make better investing decisions inline with both their financial goals and personal preferences.
Best-in-class financial guidance for all
In 2020, over 11 million Gen-Z and Millennial individuals started investing in the stock market. The vast majority of these investors do not have the means to afford expert financial guidance. Pave decided to change that.
Within a simple mobile app, Pave is offering everyone highly personalized financial guidance powered by proprietary technology used over the last 10 plus years to manage billions of dollars for high-net-worth individuals. "Pave's investment technology used to be reserved for the ultra-wealthy," Cevaer-Corey said. "That's why when we say have your money managed like a billionaire, we mean it."
Upon opening Pave for the first time, users will be guided through a simple set of questions about their personal preferences and financial goals. After completing this process, which should take no more than a few minutes, users will receive their personalized investment plan including roughly 15-20 individual stocks and how many shares of each stock to buy. Pave's investment plans are risk-managed and adjusted on a monthly basis to keep users well positioned.
Pave has decided to forgo traditional asset-based fees and instead charge a flat monthly fee. "Traditional management fees can cause conflicts of interest as advisors are incentivized to have their clients invest as much money as possible," Cevaer-Corey stated. "We want to ensure Pave always acts in our users' best interests, even if that means telling them to invest less." For all early adopters, that fee will be set at $9.99 per month, or $99.99 per year if the user chooses to pay annually, and will give users access to the following benefits:
Get priority access
Pave launches on the app store later this month. To be notified as soon as that happens and lock in the discounted early adopter rate, make sure to sign up for their waitlist.
Pave is making its pre-launch beta available to the first 1000 people on its waitlist. The waitlist currently has a few thousand members, but by referring a friend who joins, investors can move up 500 spots.
To learn more, visit pavefinance.com or reach out to [email protected].
About Pave Finance
Pave Finance is an SEC Registered Investment Advisor. Such registration does not imply any level of expertise. Pave places personalized financial advice in your pocket, empowering you to invest like a billionaire.
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