Podcast Corner at Investorideas.com with the CTO of Stockpile
"Our goal is to bring everyone into the stock market and enable financial literacy for the younger demographic"
September 21, 2017 (Investorideas.com Newswire) Investorideas.com, a global news source and investor resource releases an exclusive podcast interview with the CTO of Stockpile.
Online brokerage firm Stockpile aims to invest in the education and encouragement of the next generation of investors according to the company's Chief Technology Officer, Namrata Ganatra.
"Our goal is to bring everyone into the stock market and enable financial literacy for the younger demographic," she said.
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Investorideas.com talks to CTO of Online brokerage firm Stockpile
Ganatra, who joined the company from her position as head of engineering for payments at Facebook, explained Stockpile's novel approach to online brokerage whereby clients don't have to buy whole stocks to invest.
"Instead of having to buy the whole share, you can buy a fraction of shares, which means you can buy stock in your favourite company for the dollar amount that you're comfortable with," she said. ""To give an example, you can buy $50 of Amazon stock at Stockpile, instead of spending around $1000 to buy one whole share."
Ganatra said, however, that owning less than a whole stock did not preclude investors from receiving proportional dividends from their investments.
"Regardless of how many shares you own, if a company declares a dividend, and if you own half a share, you get half a dividend," she said.
This ease of accessibility to the stock market is extended to kids and teens, who comprise 30 percent of Stockpile's user base and can invest through custodial accounts. Ganatra said Stockpile attracts this young demographic by facilitating financial literacy through their app.
"The way we are doing this is not just by making our app engaging and fun for kids and the younger generation to play with, but we're also doing it in a way that's educating them about stock investing," she said.
Stockpile currently offers over one thousand different stocks, ETFs and ADRs that can be purchased either online or from over 14,000 grocery and retail locations in the United States as gift cards which can then be redeemed online.
Interview and article by Samuel Mowers at Investorideas.com
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