Case Study: Henfruit

About Henfruit

A purely digital, subscription-based financial planning program with an automated investment component.

In 2015, Jason Mirabella launched Henfruit Academy as an education-oriented, financial planning program. The objective of this new endeavor is to break the “work and accumulate” cycle and instead provide individuals with structure, motivation, and accountability towards clear, specific financial life goals–delivered through a digital experience.

Henfruit’s program solution utilizes online coursework and teleconference consults with an advisor. To help the broadest spectrum of people possible, Henfruit offers a no-fee, entry-level membership, which also provides access investment services. The business model focuses on client education and demonstrating Henfruit’s value, ultimately driving a client from the free membership level to the tiered, higher-fee subscription models. The program also provides investment management with no account minimums.

Challenges

  • Providing clients a seamless online onboarding and portfolio management process.
  • Maintaining flexibility to work with accounts of any size.
  • Scaling the advisor’s time to given a limited amount of resources.

Solutions

  • Allowing clients to open and fund accounts through a paperless process initiated through a link on the site.
  • Not requiring any minimums and reducing cash drag due to fractional share portfolios.
  • Automating the administrative components of portfolio management, allowing advisors to focus on client interaction and communication.

Results

  • Henfruit began using the platform in February 2015 and is onboarding clients at a fast pace.
  • The firm is on its way to managing millions of dollars on the platform.
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