I'm not super well versed in how investing stuff works, so sorry if I get some words wrong. This isn't a fund I'd be able to purchase from my existing brokerage/retirement accounts, right? I would have to actually give my real money to you (via "Apex Clearing," who I've also never heard of & doesn't even have a Wikipedia page) to hold & manage? Even in the best of times, it'd take quite some convincing for me to give a significant amount of money to a brand new company, and the reputation of recent finance startups is uhhhhhh not fantastic. How are you going to convince me you won't take my money to go buy some property in the Bahamas?
Apex Clearing's website is here: https://apexfintechsolutions.com/ They have 19M brokerage accounts and a lot of brands you've heard of got their start with Apex (Robinhood, Wealthfront)
I've never heard of Wealthfront, and I know Robinhood mostly for exploiting low-info customers & trying to make investing even more like gambling than it already is[1]. Pretty gross company to be keeping IMO.
They have been around as a significant service provider for over a decade in a highly regulated industry. Ask anyone in the brokerage world and they will not care if there’s a Wikipedia entry. They are a huge player and have been for a while.
You should in fact be worried if they were a fund, because then you are giving them your money to manage. They are instead a brokerage, so they money you deposit will simply be used to buy shares. If they go under, you still own the shares.
