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you can set it up to manage your own portfolio.
i.e. you can set yourself up as an RIA and a client of your own firm, the on-boarding process for both sides takes 45 min total. And if you are good enough with writing code you can script all your setup data (we have examples of that).. than setup is even faster.
Once that's done you can run the rebalancer on tolerance or quarterly (time-frame) basis to rebalance your own portfolio without any fees.
You'd only pay fees with your custodian if you decided to execute the trades proposed by the rebalancer.
that would be true for any public-facing text, which relates to financial advice. a good CFA (RIA) knows what to ask and how to ask, it's not really that complicated.
just to add a little... in a grand scheme of things wealthbot.io is not very different from excel. (except we do a few more things, which relate to an RIA's daily workflow).
at the end of the day we will generate a trade file (or signal) but that's it, it's up to RIA to ensure that final decision is correct.
i would say that we encourage people to look at the rebalancer logic, adjust/modify and be aware of the flow in the system.
plus there's is a portfolio accounting system which ensures accuracy in all transactions performed by the custodian.
it's exactly the opposite of what is going on in fintech world. we offer complete transparency... and although you could think of our rebalancer as an "advice giving" tool, in reality it simply calculates and adjusts out of balance holdings. the final financial advice is on the RIA, as it is today. we simply give them tools, which they don't have today to manage their clients/portfolios free of charge (open source).
if an RIA only wants to use an on-boarding portion of the product and do their rebalancing the way they like to do it, that's completely up to the end-user.
the vagrant config is a little confusing at first glance.
note, this is a typical config file provisioned by puphpet ...
if you look closely not all of those packages are marked for installation. (install : 1/0)
so we only use a faction of those listed. a basic lammp stack, i guess + some necessary php extensions.
p.s. as to why all the entries are there i guess it was easier to generate a file with everything and enable/disable various tools as needed. i.e. i decide to switch from apache to nginx change apache isntall = 0, nginx intall = 1..
purely from a technical standpoint for wealthbot.io the challenge is acceptance of these securities by custodians.
for example our platform doesn't really care which security it works with whether it's a stock, and EFT or bitcoin it doesn't matter.
the problem is finding the financial custodian that will execute your trades using the said currency. we did have real interest in someone supplementing their portfolio with bitcoins... but we can't find a clearing house/custodian that would execute relevant trades for us.
if there is an international custodian that we can hook into to work with securities from other countries, it's a no brainer.
that's why open source wins. we are not restricted by any regulation or market conditions. if the technology exists and we can hook into it, it's possible.
you have some good points, that are definitely important.
as far as technology we do not offer any investment advice .. we offer a platform for wealth management. RIA's a primary target audience, but the core logic can be used in other implementations.
you are right that before going to production the system needs to be verified by a 3rd party in order to ensure that it measures up security-wise..
but this is no different than having a similar audit done for any ERP, (PCI compliance for ACH/ shopping carts, or any other software you can think that deals with financial data...)
lots of people are using robo-advisors and RIA services... so i think that part is already proven.
now as far as webo specifically, if the community gets behind it.. this platform can be as secure, robust and feature-full as any fintech platform out there. btw, we are already pretty sophisticated. we spent quite a bit of time building a full fledged solution that has a plethora of popular features (from tax loss harvesting, to muni substitution, to various rebalancing methods and portfolio accounting)... so a lot is done, but a lot of help is also needed from community.
(magento anyone?)
not to mention our goal is to enable not only RIA's but also developers, by allowing them to create plugins (and possibly profit form it)...(again examples are magento/wordpress)
Need a connector to your favorite custodian? there's an app for that.
Need a more clever rebalancer? there's an app for that.
Need a new theme or improved workflow?
How bout additional ACH features?
our product is highly modularized so having developers hook into the system to expand on the core features is something that's more important to me personally than seeing if s&p 500 will outperform my personal EFT portfolio (which it hasn't ;)
definitely you can use your local OS to run it. if you have a full LAMMP stack ready, just setup a new vhost (or whatever your typical process is.. .and off you go).
(as a matter of fact, that's how it would be deployed in production).
however vagrant is perfect for local, since you need mongo and mysql and various php extensions, etc. etc. all of that comes pre-packaged w/ vagrant... so if you don't feel like littering your local with a bunch of libs that you or many not use in the future, use vagrant.
