The very rich, wrote F. Scott Fitzgerald, “are different from you and me.” That may or may not be true, but what is definitely true is this: The very rich in America invest in very different ways than everyone else. Aspiration was born to change that: to be an investment company for the middle class – giving everyday investors access to the kinds of investment strategies and the basic respect that are now out of reach.
For too long, Wall Street has hoarded its best investments for the fortunate few. The super-wealthy have been given access to elite investments that are designed to help them make more money or, just as importantly, lose less. Meanwhile, everyday investors have largely been limited to the roller coaster ride of the stock market and forced to watch as scandal after scandal reveals a financial sector that too often thinks it can play by its own rules no matter the consequences. The result is that wealth inequality grows and Americans fall further back from achieving their dreams for their families.
I’ve seen this up close: as a financial fraud prosecutor, in helping to launch the fight for the Consumer Financial Protection Bureau, and while advising some of America’s largest companies.
It’s time to democratize the world of investments. To us, however, that doesn’t just mean breaking down a broken system into bite-sized chunks. To really democratize means to put power and a voice in the hands of people. And that’s what we’re trying to do at Aspiration.
We’re hard at work creating a new kind of financial firm: dedicated to bringing elite investments to everyday investors, founded on mutual trust, and built on the idea that profit and purpose should go hand-in-hand.
That’s a lot to do – so give us just a little while longer until we lift the curtain. And it is high bar to set. But we think of Aspiration as not just a company but a community – one that cares about both our portfolios’ values and our personal values. As members of that community, we’re counting on you to be our partners in clearing that bar.
Stay tuned…