The financial industry is built on an asymmetry of information that causes us to pay high fees for average or even poor performance. These fees compound over time and can easily erase a third or more of our retirement savings. What's worse, most of us don't even notice.
As the Robin Hood of Fees, we at FeeX believe that everyone is entitled to free and clear information about how much we're all paying for the privilege of investing. Financial websites might be okay for those versed in the byzantine language of finance, but the rest of us can often use a little help to untangle the thicket of financial jargon that separates us from our money. We believe that technology can make it easier for us to understand our finances, and help us make decisions that lead to better retirement and investing outcomes.
Waze co-founder Uri Levine was once charged thousands of dollars in management fees on a retirement account. Outraged, he called customer service and after countless transfers and interminable waits, he managed to get these fees waived. But this wasn't enough for Uri. He wanted to help others fight back against the tyranny of excessive financial fees. And that's why he started FeeX.
Founded in September of 2012, FeeX is a free service that finds and helps you reduce fees in your IRA, 401(k), 403(b), brokerage and other investment-type accounts. But investment accounts are just the beginning. As the Robin Hood of Fees, our mission is to break the asymmetry of information that hinders so many of us in our daily financial lives.
FeeX was conceived at the Zell Entrepreneurship Program by co-founders Uri Levine, Yoav Zurel and David Weisz. Uri serves as Chairman of FeeX, Zurel is the CEO and Weisz is Vice President of Products. The fourth co-founder of FeeX is Eyal Halahmi, who serves as CTO.
For further details, you can read their bios here.(Photo L-R) Yoav Zurel, Eyal Halami, David Weisz, Uri Levine. Photo Credit: Eyal Yizhar.
Blumberg Capital is an early-stage venture capital firm based in San Francisco that invests in exceptional entrepreneurs with transformative ideas. Blumberg partners with passionate founders to disrupt markets through innovation and build successful companies
Horizons Ventures is a venture capital firm based in Hong Kong with a focus on disruptive and technology-focused start-ups. Started in 2006, Horizons has funded some of the best-known technology innovations of the last decade, including Skype, Siri, Facebook, Waze, Summly, Spotify and more.
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