Anyone know anything about the Aspiration Summit Account?

ElainePDX

ElainePDX

Level 2 Member
I saw a promoted tweet for this account and clicked through out of curiosity. I was able to sign up for an invitation list but I'm not quite sure what the product is/will be. Has anyone here heard of it?

This is the email I received after signing up:

Hello,

Thank you for signing up on the Aspiration Summit Account invitation list. This is a unique financial product that’s only available through Aspiration – a new kind of firm that’s founded on the belief you can make money, make a difference, and treat your customers with respect all at the same time.

While we think you're very special, you're not alone. There's been a huge demand for access to the Aspiration Summit Account. Your invitation to open an account will be arriving in the coming weeks. But if you want earlier access, don't keep quiet about Aspiration, tell the world!

[Suggestion I share on FB or Twitter; I removed the links]

Or email or share this personalized link:

https://www.aspiration.com/share/summit/W9C0NMYJQKPKRSX1

The more people you bring into the line, the faster you move to the front.

At Aspiration, we:

  • Bring to everyone the financial products once available only to the elite.
  • Trust you to pay us what you think is fair so our interests and values always line up with yours.
  • Donate a dime of every dollar our company makes to charities that help struggling Americans start their own small businesses.

Thanks again for your interest in the Aspiration Summit Account. Together, we can do well and do good.

Thanks,
The Aspiration Team
Aspiration.com

Feel free to use my link if you wish but I am not posting here to move up in their line, rather I am curious to see if anyone knows anything more than what the letter says. Maybe it has MS possibilities....

Thanks!
 
Matt

Matt

Administrator
Staff member
It looks like they built a fund of funds, packaging other mutual funds and etfs into one offering.

Their angle seems to be that they cap expenses to 0.5% and then ask for a 'tip' on top for their pay...

I believe the 0.5% is unnecessarily high in the age of ETFs.
 
ElainePDX

ElainePDX

Level 2 Member
Just got an email announcing a bank account with no fees or minimum deposits which they'll offer in addition to the investment product. It promises:

1% annual percentage yield.* No monthly service fees.
Free access to every ATM in the world.** FDIC insured.

If there are no hidden fees, may be worth a look just for access to no fee ATMs while traveling . Here's a link:

www.aspiration.com/share/summit/32M2W9TS4QQHAFNQ

Maybe they figure that once you have a bank account with them, you'll be more likely to invest with them....
 
Matt

Matt

Administrator
Staff member
Interesting fact in their prospectus, I am asking them now if it is accurate, but if so (and not just forgot to change it after recently becoming 'altruistic'...) then it isScreen Shot 2015-07-09 at 12.54.16 PM.png very shady.
 
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