The folks running a new ETF startup that tries to crowdsource investing are now "looking at marketing and distribution people."
| Martin Mickus|
, founder and chairman of CrowdInvest
, confirms that's the next step for the New York City-based shop. Their first ETF, the CrowdInvest Wisdom ETF
last month. That ETF is a broad-market one, but they'll also be working on a sector ETF soon. And watch for CrowdInvest
to roll out new indices, too.
The ETF tracks the CrowdInvest Wisdom Index
(CROWDWIS), which in turn is powered by users of the Crowd-Invest app for phones and tablets. Anyone can use the app -- Mickus and CrowdInvest CEO Annie Wyatt
want as many votes as they can get.
"We're letting people decide what stocks should be in the index," Mickus tells MFWire
Exchange Traded Concepts
works with CrowdInvest on the ETF. Mickus praises ETC as "the most established, highest-regarded" ETF service provider.
"They basically do the entire food chain of the legal, administrative, and the listing and maintenance of the ETF," Mickus says.
Separately, Mickus also moonlights as director in the technology investment research group at Capital One. He's an alumnus of Syracuse and Vanderbilt. He previously worked at New York Life's Madison Square and at Oppenheimer Capital.
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