Update #16 – November 2023

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Update #16 – November 2023

Yo yo,

November was fun. We always knew we were in a seasonal business, but kinda wild to watch it unfold in real time. We added 100+ new customers in November and expect that number to accelerate in December. We also had our strongest ever month in AUM growth, collected $50K+ in cash and launched self-directed IRA’s in beta. LFG.


  • MRR: $21,370 (+12%)
  • Customers: 666 (+17%)
  • AUM: <redacted>
  • Runway: 20 months

What Happened Last Month

  • Launched self-directed IRA’s in beta – working with our first few customers by hand to make alternative investments out of their IRA. We support real estate transactions, startup & venture funds and crypto.
  • Launched a provider view in beta – for financial advisors, CPA’s & other service providers to administer client accounts & handle tax reporting for them.
  • Released a new course on strategies to save money on 2023 taxes for customers, and used it to drive a bunch of new customers + add value to existing customers.
  • We slowed down selling new VIP customers due to capacity issues – making some systemic changes, and will relaunch in January.

What’s Happening This Month

  • Busy season! Most people should set up a Solo 401k by December 31st so prepping for an EOY rush. Lots of customer education with webinars most days.
  • Publicly launching self-directed IRA’s on December 8. Launch event here.
  • Prepping for our 2024 plan. I’ll give y’all a sneak preview – becoming bff’s with CPAs, advisors & other service providers to build out that part of our offering, getting really good at alternative investments and eventually launching a free tier.

How You Can Help

  • We’re looking for a fractional head of compliance, ideally ASAP. Our last compliance firm was not very good – we have lawyers on the case, but need someone to step in between.
  • Sign up for a Solo 401k if you qualify. Get everyone you know who is eligible for a Solo 401k to use us. Publicly talk about why people should set up a Solo 401k with us and tag us.

– Ankur