Caravel Concepts, a Midlothian investment software startup aimed at portfolio managers and financial advisers, raised $950,000 in May, according to Securities and Exchange Commission filings, and its leadership is looking to refine the company’s product before making a big launch early next year.
Chairman and CEO Michael Jones said the company’s software helps solidify the financial goals clients want to achieve over their lives.
“But then very different from any other existing planning tools is, it crafts a customized investment strategy optimized for the specific life goals of Mrs. Jones, which will be a different investment strategy than the one that is provided for Mrs. Brown, because they have different life goals and therefore, they have a different optimized investment strategy to achieve those goals,” said Jones.
Caravel Concepts’ software uses mass customization and rules-based technologies that make it easier to deliver individualized advice than existing investment…
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