Shareville – Social investing
At the end of last year, we published an article regarding the Nordic digital savings specialist Nordnet and its collaboration with Shareville. The purpose behind this partnership was to implement an upgraded version of the existing social investment platform. Now, this new platform is soon to go live and we received an invitation to try out the service in a closed beta version ahead of the actual launch. See extracts from the site further down and more here for a video about the service.
To provide some background, Nordnet has, for a long time, been active with different social aspects related to investments. As mentioned in the article last year, Nordnet already provides a blog which is open for individuals to contribute to. Listeners of their podcast influence the topics discussed each week and events such as Nordnet Live are also held regularly.
However, the collaboration with Shareville is certainly the most substantial step in terms of integrating social aspects to their core business. Initially, Shareville is a platform where members share (and trade) artificial portfolios. The collaboration will enable Nordnet members to connect and share their own portfolio, as well as follow other member’s real portfolios.
Members can choose to remain anonymous and the actual value of the portfolio is not presented (only the distribution of holdings). On the site, members can interact in several different ways (i.e. open threads, secure messages) and by doing so share and receive information on certain topics or overall strategies. It is also easy to find the most influential or successful members who are listed in different charts. Similar to the likes of Twitter, those accounts can be followed in order to monitor their strategy and the decisions they make.
In summary, the whole idea is to receive advice from other customers instead of bank representatives – this is free of charge. Head of innovations at Nordnet, Jan Dinkenspiel, recently expressed in an interview that he believes that among their 400,000 customers, there should be a number of people who are better than the professional fund managers.
In the past, Jan has said that the transparency will also spur competitiveness among contenders. From our point of view, this may help to attract younger and perhaps more modern investors. But especially, it also increases the possibility in getting more active customers.
Finally, another ambition is to make investments easy and more fun. This is still very much dependent on the actual uptake from members. If this becomes an active platform it certainly has great potential to shake things up and something for the more traditional banks to be aware of. The first impressions after using the service is certainly that it has got the potential to do just that.