An online fund screener called Jemstep
matches retail investors with mutual funds based on personal investment preferences. Barron's
profiled the firm this weekend, which is in its final testing phase and preparing to launch its beta version.
"We think of it [Jemstep] as Morningstar meets eHarmony," said Chief Operating Officer Kevin Cimring
in the article.
Instead of basing recommendations on growth rates or other sophisticated measurements, Jemstep uses an algorithm to match a user's investment styles and with a line-up of 18,000 mutual funds. Fund selection also takes into account when investors will need the assets. The company will also soon add stocks and ETFs to its offering, according to the Jemstep website
Jemstep is a register investment advisor and makes its revenue by selling ad space and collecting referral fees from broker-dealers.
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