Karan Shanmugarajah and Mini Maxwell.
Alpher and WealthKernel partner to target £15bn gender investment gap
Although women control around one-third of the world’s wealth, investing is still dominated by, and catered toward, men.
Despite women adding approximately $5 trillion to the wealth pool annually, there is still a £15bn gender investment gap.
Alpher, a female-first investment platform, is now partnering with digital investments service provider WealthKernel to further its mission to close this gap.
As the company readies itself for its UK launch, WealthKernel will provide Alpher with its core investing infrastructure and APIs.
This will include brokerage and custodian services, fractional stocks and ETFs, portfolio management functionality and access to UK tax account wrappers such as ISAs and GIAs (general investment accounts).
“Retail investing is more popular and accessible than ever before, yet the majority of women remain on the investment sidelines,” Alpher CEO and co-founder Mini Maxwell said.
“At Alpher, we are building a product that puts women at the core — building what we know women want, rather than what people assume they want.”
A community-driven platform created to reshape the way women think about investing, Alpher aims to change the fact that despite adding trillions of dollars to the wealth pool every year, investment platforms are still heavily dominated by and catered toward male investors.
“Partnering with WealthKernel to enable this vision was therefore an obvious choice for us, and will enable us to launch our platform seamlessly and effortlessly,” Maxwell added.
Working with the digital investment services provider will enable Alpher, which describes itself as the “growth engine of women's wealth”, to launch more quickly and focus on its mission of supporting women with better investment services, according to the company.
“Alpher is working to tackle a very well-known, but little challenged aspect of the investment industry that I hope will benefit millions of women across the UK,” WealthKernel CEO Karan Shanmugarajah said.
“By encouraging and supporting more women to engage with investing and grow their wealth, I hope we can see a more balanced, and inclusive investment landscape in the years to come.”
WealthKernel is a portfolio company of ETFS Capital, the owner of AltFi and ETF Stream.