New York, NY — December 14th, 2021 — On a mission to create greater financial inclusion, GoalBased Investors (GBI) has launched Lasso, the first-of-its-kind social platform simplifying the financial planning process by connecting financial advisors and consumers looking to achieve short and long-term financial goals.
GoalBased Investors was launched in 2019 by former BlackRock Managing Director Chip Castille. Known for continuously driving innovation, Castille served as the Head of BlackRock’s U.S. Defined Contribution business and, later, Managing Director and Global Retirement Strategist for BlackRock. Castille is bringing Lasso to market with a team that includes Google, BlackRock and Guardian Life Insurance veterans who have deep experience delivering investments and digital solutions across finance and tech.
“With almost 100 years of collective industry experience, Chip and the GBI team have a track record for bringing simple-to-use yet financially sophisticated products to market,” said Lawrence Davanzo, Former President and Vice Chairman of Wilshire Associates, and advisor to GBI. “We are seeing a new wave of empowered retail investors being lured by risky investments such as meme stocks without necessarily understanding how these investments help them reach their financial goals. Lasso can appeal to these investors through a more frictionless planning and advice discovery experience that lowers the barriers for people to access expert advice.”
Lasso is a free, intuitive and gamified platform that simplifies the financial planning experience, where consumers can build customized plans in minutes, regardless of financial familiarity. Lasso utilizes a point system, which makes it easy and intuitive for consumers to track their progress toward holistic financial wellbeing and allows advisors to showcase their value in a way that consumers can understand.
“Finding a financial advisor has historically been a complicated process and felt like a luxury reserved for the wealthy or for the financially savvy individual. Sixty percent of Americans say that they need help with their finances, but only 1% leverage financial advisors,” said Chip Castille, CEO of GoalBased Investors. “There is a clear disconnect where people need professional financial help but are not getting it. Lasso is about revolutionizing how consumers engage with their finances by providing an easy framework for people to understand their financial situation and then connect with the right people who can help them achieve their financial goals, all without having to disclose personal information.”
In 60 seconds, consumers can build and anonymously share plans for their goals with a marketplace of financial advisors, choosing advisors based on personalized criteria, such as location, gender and credentials. Advisors then showcase how they could enhance those plans and submit the proposed options for review by the user. Consumers can then select the advisor and plan that best fits their financial goals. Consumers and advisors are able to see the activity of fellow users on Lasso’s Community, helping to demystify the topic of money by encouraging community-based learning.
“Finance has historically been a taboo subject, where very few people talk about their money, finances or salaries. We believe that it is important to have conversations about money and be empowered with the information and context to have those conversations. We also believe professional help should be more readily accessible to the average consumer,” said Rebecca Long, Head of Client Experience at GoalBased Investors. “Having a community is about understanding how others are maximizing their money and how professionals can fit into the equation.”
Lasso utilizes Wilshire’s investment manager research as an input for optimized portfolio construction, allowing individuals to benefit from research used to advise large institutions.
GoalBased Investors was founded by financial service veterans and backed by leading venture capital firms True Ventures and The Venture Collective. Join our community of advisors and consumers who are reaching their financial goals. Consumers can download Lasso here and advisors can download Lasso Advisor Portal here.
About GoalBased Investors
GoalBased Investors (GBI) is a financial technology company whose nationally distributed team is on a mission to create greater financial inclusion through innovative fintech solutions built for everyone. GBI’s first product to market is Lasso, which is focused on creating more access to financial planning and advice. Lasso offers a simple and intuitive matching platform for consumers and financial advisors that centers around people’s important financial goals and an exchange of ideas around how to achieve them. GBI is backed by True Ventures and The Venture Collective, who support GBI’s goal of lowering the barriers to help people achieve their financial goals. For more information, visit https://GetLassoApp.com.