Covestor Model Manager
As of last week, Covestor Investment Management (CVIM or cv.im) began offering my portfolio as one of their Model Managers. This is a great opportunity to expand investors to the group that typically invests in mutual funds. It gives investors with only $5K the opportunity for individually managed accounts that in the past required at least $100k and in most cases $250K to open an account. Unlike a mutual fund you get the opportunity to see current trades and portfolio holdings and you have visibility to your assets via 3rd party brokerage Interactive Brokers (IB). So anybody worrying about giving their money to an investment manager ala Madoff no longer has to fear never seeing that money again. The money remains in your name and you alone have discretion over transferring in and out. CVIM only obtains the ability to execute trades and collect fees. How CVIM works is that I make trades in my account at IB and then the CVIM team replicates those trades within 2 minutes to investors t...