Social investing is just one of the many types of investing platforms that are taking off. With so many different investment choices and strategies, many investors just need a place to start. Instead of a big barrier of entry and alway having to go it alone, investing is starting to become more connected than ever before. It’s more fun to take action with those you like, know, and trust.
Today we answer what a social investing platform is and some examples of them.
What is a social investing platform?
Let’s start out by answering an important question: What is a social investing platform? You may already have somewhat of an idea, but social investing platforms allow investors to connect, learn, and take action with others. These platforms are community driven and are great for anyone that is a beginner to advanced investor.
Related Read: 9 Best Alternative Investment Platforms to Accelerate Wealth Building
Retail brokerage platforms give you the ability to follow, track, or even gamify your investing experience.
For people looking for more than that, they are joining communities like Ryan Leslie’s WealthPlan to learn how to build net worth by forming an investor club to take action to learn and grow together.
And for those interested in alternative or private investments, there are less platforms because investing in private markets is less standardized. But that doesn't mean it can’t be social! There are two ways people or being social in the private markets.
- Crowdfunding: WeFunder (Startups) and Fundrise (Real Estate) are examples of people making statements and taking action to invest in deals, entrepreneurs, or startups they believe in. This is a great way to invest in a company while it is experiencing exciting growth before it is acquired or goes public.
- Community: For people looking for more than investing as an individual in alternative assets, there are communities like LeftField Investors (passive investing), The Flipstress (house flipping), or ADPI Capital (active duty), and WealthFormula, to learn about a particular alternative investment, take action, and learn and grow together. Crowdfunding is exciting, but only represents a small fraction of deals and investment opportunities. There are many opportunities on and off the internet for people to come together and invest.
So why should you look at a social investing platform? Let’s take a look at some of the benefits you can enjoy when you join these platforms:
- Connect with others: Unlike logging into your TD Ameritrade account and buying stocks or stashing money into your 401(k), these platforms allow you to connect with other investors so you can network!
- Learn from others: Beyond connecting with other investors, you can learn from them. What are they investing in? What is their strategy for these investments? Learn about new asset classes and become better informed.
- Take action: Social investing encourages connection and learning to build confidence to take action.
- It’s fun: Social investing platforms are a great way to learn new investment classes, share ideas, and build relationships as you build wealth.
Related Read: Buying an Investment Property With a Friend: 5 Key Considerations
With these benefits in mind, let’s take a look at some social investing platforms out there. This isn’t meant to be a comprehensive guide, but a few examples of this popular platform.
eToro is one of the world’s largest social investment networks. This retail brokerage social investing platform allows you to invest in stocks, crypto, and ETFs.
You can interact with other investors, get tips and strategies and more. With their platform, if you don’t have time to watch the markets, you can copy trade at no extra charge and still maintain control over your portfolio.
eToro isn’t available in all states, but you can still learn about trading and practice strategies by using their virtual portfolio.
Stocktwits more closely resembles a community with its social investing platform. You can see what actual investors and traders are saying in real-time about stocks, crypto, futures, and forex.
Type in any symbol or username and pull up a Twitter like thread of what folks are saying for free. You can sign up for Stocktwits to save a watchlist and get early access to your favorite stocks. Upgrade and get access to premium rooms for exclusive content, concepts and analysis from leaders in business and finance.
Tribevest makes it easy to take action with a group of people to invest in alternatives. Get your friends and family together to buy a vacation home, invest in collectibles, or passively invest.
The great thing about Tribevest is the utility that is provided to safely and easily invest with a group of people in anything they want. The collaborative dashboard is a transparent hub for your Tribe to organize and invest confidently. Transactions, contributions, important documents and communication are all included in one place.
Wefunder allows you to invest as little as $100 in the startups and small businesses you believe in. They do a great job of setting up a profile for each company that allows you to see financial details, company updates, what investors are saying, and the ability to ask questions.
You can clearly see the investment terms and most companies include investor perks based on investment amount. Speaking of Wefunder, you can invest in Tribevest until 9/30/2022!
Left Field Investors
Although you can’t make actual investments on this platform, Left Field Investors, is a social platform that is a community. Left Field Investors, is a great community to join if you’re interested in learning more about passive investing.
They have weekly educational recordings, meetings on Clubhouse, a podcast, and a variety of deals. Communities like Left Field Investors are a great first step to learning about alternative investments before taking action.
There are Many Social Investing Platforms to Choose From
Investing is more social than it’s ever been and can be overwhelming to choose a place to start. The first step is figuring out where you are on your wealth building journey and what is of interest to you. Keep the benefits in mind and what you are looking to gain from where you are currently at in your investing journey.
- Connect with others
- Learn from others
- Take action
- Have fun!
If and when you’re ready to take action with a group of people, Tribevest is here to help you organize easily, safely and with transparency.