Launch HN: Double (YC W24) – Index Investing with 0% Expense Ratios

Re:Launch HN: Double (YC W24) – Index Investing with 0% Expe... by sumanyusharma on Tuesday December 10, 2024 @10:20AM (#42377646)

I'm actually pretty interested in what you're building. Sure, Vanguard and Fidelity are well-established giants, but they've barely moved beyond standard ETFs for decades. Having the option to tweak weightings at a more granular level and do daily tax-loss harvesting at scale seems like a genuine step forward.

I also like that you're transparent about how you might eventually introduce additional revenue streams like margin lending or maybe even PFOF. Knowing that upfront is better than a sudden terms-of-service surprise down the road. Still, I'd hope you'll consider giving users some say over how their shares are handled — like opting out of lending — so your incentives stay aligned over the long run.

Congrats on hitting $10M AUM. I'm rooting for more low-fee alternatives that keep the user in the loop!

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Re:Launch HN: Double (YC W24) – Index Investing with 0% Expe... by soared on Tuesday December 10, 2024 @11:05AM (#42378114)

Fidelity has innovated a ton and they have this exact product, though I don’t know the fees.

Fidelity is very much into new fintech ideas and products.. they were mining crypto very early on.

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Re:Launch HN: Double (YC W24) – Index Investing with 0% Expe... by sumanyusharma on Tuesday December 10, 2024 @11:27AM (#42378341)

Appreciate the info; I'll double-check Fidelity again!

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Re:Launch HN: Double (YC W24) – Index Investing with 0% Expe... by ac29 on Tuesday December 10, 2024 @01:05PM (#42379409)

Fidelity has a few direct indexing products.

Here is one that is $5/month: https://www.fidelity.com/direct-indexing/customized-investin...

I'm curious if Double has any advantages over this offering other than price. While I'm not personally interested in direct indexing, if I was I would absolutely be willing to pay the extra $4/month to do it at Fidelity vs some unknown startup.

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Re:Launch HN: Double (YC W24) – Index Investing with 0% Expe... by TuringNYC on Tuesday December 10, 2024 @01:24PM (#42379642)

>> Fidelity has innovated a ton and they have this exact product, though I don’t know the fees. >> Fidelity is very much into new fintech ideas and products..

Fidelity has a competitive product called Basket Portfolios and it is so buggy as to be almost unusable. The bugginess has existed for many months and they do not even seem to care.

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