Monstro can handle everything from boats to long term care costs
Most personal finance apps offer suggestions for what their users should do with their money. But they’re all operating on limited data.
Wealth managers know it’s important to understand more than what’s in a stock portfolio. They need the client’s family information, goals, risk tolerance, tax situation, retirement expectations, estate plans, business ownership, asset protection needs, and more.
This is what it takes to accurately assess someone’s wealth story.
Renee Caputi, Head of Wealth Strategy, Monstro
This is what makes Monstro different. We embarked on an audacious plan to capture (and securely store) as much of this information as people will connect or provide. That’s how we can offer holistic suggestions, balancing tradeoffs and identifying opportunities for people, across the spectrum of wealth scenarios.
A system with hundreds of data points and calculations
We built a system that can connect everything from insurance policies and asset risk ratings, to cryptocurrency, real estate, and boats. Monstro can take in loans, taxes, accounts payable. It can handle collectibles, grapevines, and notes receivable. You get the picture.
At the same time we’re bringing in reams of external data that help value all these holdings—and not just market data. Data such as the daily cost of long term care in the 50 states, trade-in values for used vehicles, average probate fees, loan rate comparisons, the hourly cost of a CPA or attorney, the average cost of undergraduate and graduate degrees, and life expectancy tables.
Hundreds of data points and calculations under the hood bring all of this together into personalized discoveries for Monstro’s clients.
“This is what it takes to accurately assess someone’s wealth story,” notes Monstro’s head of wealth strategy, Renee Caputi. “If someone holds feeder cattle in their portfolio, we will pull the value of that commodity, so we can offer insights relevant to them.”
Photo by ThisIsEngineering | Pexels
