Effective financial planning is an essential component in achieving long-term financial stability and prosperity. Unfortunately, many young professionals find themselves navigating the complex landscape of personal finance without the guidance of a financial advisor due to a lack of tailored products and services that cater to their unique needs and the limited profitability associated with advising this demographic.
The traditional approach to financial planning can oftentimes be time-consuming for both the financial advisor and the client. On average, financial planners spend 10+ hours constructing a financial plan for their clients, with an additional 30+ hours spent gathering and analyzing data, delivering recommendations, and monitoring progress in the first year. This amounts to 40+ hours per client per year, when technology like FitBUX, can do so in under an hour, making this process 40x more efficient than the traditional approach.
This is where FitBUX comes in, a financial technology company that provides personalized financial planning for individuals. Unlike traditional financial planners, FitBUX’s technology is unbiased and provides a complete picture of an individual’s financial situation, including their human capital, which helps project future income and the associated risk to this income.
Joseph Reinke, Founder of FitBUX, created the platform with a mission of empowering young professionals with the tools and support they need to alleviate financial stress and achieve financial freedom through personalized financial planning.
Joseph’s journey to creating FitBUX began with his passion for the financial industry and a desire to work on Wall Street. In the beginning, he encountered a common challenge faced by many young professionals, the lack of experience, which led to difficulty in securing an internship or job. Determined to gain the necessary skills and experience, he sought out a unique opportunity with a global bank that had a wealth management division, where he could gain hands-on experience while also obtaining his CFA charter. While working in wealth management, he noticed that many people in their 40s were not achieving their financial goals, which all tied in back to the lack of financial planning in their early 20s. Joseph set out to make a difference by creating FitBUX with the goal of assisting young professionals before it’s too late.
For Joseph, the three pillars of FitBUX are financial freedom, unbiased technology, and personalization. Financial freedom is not just about having a lot of money, but rather having the plan to manage it. The technology developed by FitBUX is unbiased and provides personalized feedback to help individuals improve their financial situations.
Joseph mentioned, “With FitBUX, not only do members receive a customized financial plan, but we also partner with industry leaders in student loans, mortgages, insurance, and more to offer the optimal products at the right time, allowing members to fully maximize their financial plan.”
With FitBUX, Joseph has created a user-friendly platform that empowers young professionals to gain a deeper understanding of their financial situation and take control of their finances. The platform utilizes information such as education, background, and financial status to provide tailored recommendations and expert coaching to assist members with a personal touch. FitBUX’s mission is to empower individuals to navigate their finances with greater confidence and understanding, especially in uncertain market conditions. The platform also offers the flexibility for members to schedule calls with a FitBUX coach at their convenience.
For more information about the platform, click here.