Vest
Vest is a fintech company based in McLean, VA, specializing in asset management with a team of 25, managing over $10 billion in investment products and offering innovative Target Outcome Investments through strategic partnerships.
Services
Vest provides a comprehensive suite of financial services centered around Target Outcome Investments, which are designed to achieve specific financial goals with an allowance for a certain level of risk. The company offers these investments in various forms such as mutual funds, exchange-traded funds (ETFs), unit investment trusts (UITs), collective investment trusts (CITs), and customizable managed accounts. Additionally, Vest advises mutual, retirement, and insurance funds, and provides sub-advisory services for ETFs and UITs.
Products
Vest manages a range of investment products including Target Buffer ETFs, Target Income ETFs, HYKE, and RYSE. Target Buffer ETFs aim to protect against a range of downside losses while offering growth up to a capped level. Target Income ETFs seek to add a level of income to a reference asset by converting some potential future growth into current income. HYKE focuses on generating capital appreciation and hedging against rising 2-year interest rates, while RYSE targets capital appreciation and hedging against rising 10-year interest rates.
Industry
Operating within the Fintech sector, Vest specializes in the sub-industry of asset management. The company actively manages investment products valued at over $10 billion as of December 31, 2022. Fintech, short for financial technology, refers to innovative tech solutions developed to improve and automate the delivery of financial services. Vest's unique approach lies in its focus on outcome-driven investment strategies.
History
Founded under the name Vest, the company was part of the Y-Combinator Winter 2015 batch and has received backing from venture firms such as Y-Combinator, Payment Ventures, and First Round Capital. Vest's notable achievement includes the creation of Target Outcome Investments in 2013, designed to achieve specific return profiles with managed risk. The company has formed strategic partnerships with Cboe Global Markets, Inc. and First Trust. Vest also operates from McLean, VA, and offers remote working opportunities.
Strategic Partnerships
Vest has established significant strategic partnerships with Cboe Global Markets, Inc. and First Trust, a notable global asset manager. These collaborations help Vest enhance its product offerings and reach within the asset management sphere. These partnerships are critical in reinforcing Vest's market presence and delivering innovative financial products to its clientele.