Powder Launch
It all started when I tried to partner up with a wealth advisory firm. I asked friends and family who do they use? A good friend connected me to theirs. Being short on free time and trying to understand the value add, I was hoping to quickly figure out two things. One, what are all the services the advisors provide and, two, how do the services help me optimize my financial outcome.
Fast forward a month later, I had burned time in many meetings and I had received a very long deck. *shrug*. There has to be a better way to do this…
There has to be a better way to do this...
Previously, I co-founded a company called Navigator that was acquired by Addepar in Jan 2021. We built software that allowed the same firms to sophisticatedly guide capital into alternative investments creating a stronger portfolio that's not only diversified but also yields higher returns. I knew that wealth advisors have deep knowledge of investing, taxes, and estate but I didn't see any of that in my experience. And it wasn't just me, many friends mentioned having the same experience.
A $100T+ assets industry that's growing to $200T+ is not able to clearly describe their value to prospects. Yet they are growing because they provide real value. Well, let's supercharge their growth!
Powder is trying to democratize access to wealth starting with building a sales copilot for wealth advisors that is able to efficiently gather portfolio data, automatically build portfolio, tax and estate models and facilitate the laborious paperwork if the advisor wins the client’s business.
Kanishk Parashar, cofounder/CEO Powder