Today, we are going to talk about iFlip. Is it legit? Find out more in this review.
So many companies and platforms have been offering some type of product or service focused on investing. Even if there are numerous products and services that focus on this particular industry, there would still be a new one popping up every now and again. For the most part, there is not really a lot that you could learn with regards to the foundations and basics of investing. There’s not much space for them to change drastically. New information will be added. But how it’s done is usually the same.
As somebody who has written a number of reviews focused on these types of products, I sort of have an idea of what to expect. All it really comes down to it is if the content of these training programs or what have you justifies the cost of the product that you’re potentially going to purchase. Though, in my experience, some of them are inaccessible to ordinary consumers because of it. You’re paying a decent amount of money—usually at least $1,000—for a course that teaches you how to invest in stocks or foreign exchange. It’s normal to expect that you’re getting your money’s worth. Especially if you’re going to spend a lot more money in the long run from those investments.
So whenever something like iFlip appears on my radar, I am expecting that you’d get the most out of what you’re potentially going to pay them. With decades of experience coming from its co-founders, surely you’re getting a ton of information out of them. Or am I just expecting too much?
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iFlip Review: Quick Details
- Name: iFlip Invest
- Founders: Randy Tate and Kelly Korshak
- Website: https://iflipinvest.com/
- Socials: Facebook, Instagram, YouTube
- Type: Investment platform
- Niche: Stock trading
- Recommendation: While access to the platform is relatively inexpensive, I do not highly recommend that you try this app. Even if they use artificial intelligence to lessen the risk that comes with investing, it’s hard to expect that it would always work out as you had hope. Investing in stocks or ETFs always comes with a ton of risks.
Who Are Randy Tate and Kelly Korshak?
Randy Tate and Kelly Korshak are the co-founders of iFlip, an AI-powered investment platform. Aside from being co-founders, Randy Tate serves as the company’s CEO while Kelly Korshak serves as the company’s CTO.
There’s varying information regarding the both of them. It does seem that Randy is the one who often gets interviewed by different shows and podcasts within the investment niche. Though there instances where Kelly gets interviewed. But Randy has more interviews between the two of them. That’s just how it goes sometimes. He is the CEO, after all.
It does seem that Randy Tate had humble beginnings as a child. He and his family had a farm where they lived in California. His dad was working as a contractor while his mom stayed at home. He did what he could to help his parents take care of the farm. When Randy was in his teenage years, he eventually went on to work as a farmhand for a larger farm that was nearby. He did good work for them but he didn’t really enjoy it. It was helpful at least for him since he was earning money while he was still studying. He eventually left the farm after his junior year in college when he decided to transfer to a university.
Randy had the intention of working as a teacher and a sports coach. He had graduated with a master’s degree in education so he really had his eyes on that profession. He enjoyed working as a teacher. But then he had some level of existential dread when he was looking at one of his paychecks. That was kind of the moment where he realized that he wanted to do something for himself. And that was when he started to become an entrepreneur.
His experience coaching a bunch of teenagers to play sports definitely had translated well into running a company, in a way. He climbed up the ladder, going from a solo entrepreneur to being an executive for a company that he worked for.
What About Kelly Korshak?
Kelly grew up in Chicago to a fairly average family. He pretty much lived a normal life. Though it did seem that he was a bit more intellectually advanced compared to some of his fellow students. Kelly skipped the third grade due to his advanced reading skills. He also had the privilege of studying in the University of Chicago’s laboratory schools. So Kelly was definitely a pretty smart kid. And because he was studying in a high school associated with a nearby university, he had these kinds of opportunities not a lot of kids had. Kelly graduated high school at the age of 16 years old. He went on to study physics at Stanford University. After that, he went to study at the University of Chicago to get his graduate’s degree in mathematics. He then went on to work in Wall Street for almost three decades.
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What is iFlip?
iFlip is this platform that uses artificial intelligence to help you manage your portfolio. That’s pretty much the extent of what the app and the platform does. It is interesting to see a lot of different companies use artificial intelligence in some form. In this case, iFlip also uses the term “algorithmic intelligence” when they talk about AI. But for the most part, “artificial intelligence” is what they normally use.
You may be wondering what exactly the artificial intelligence is supposed to do. The sum of it is that using a bunch of data, the AI that iFlip utilizes willl make decisions for you with regards to your portfolio. They are pretty much automating the process of investing wherein they try to minimize the risk of you losing a ton of it. Sounds interesting enough, right?
Basically, they have these packages called SmartFolios where they have a set of stocks and ETFs—exchange traded funds—ready to go. You don’t even hack to manually pick at the different stocks and ETFs that you want. You just pick one of the premade packages, and you’re pretty much raring to go. It’s kind of hard to imagine that AI is advanced enough to accurately do the actions with regards to your portfolio. I’m fully aware that an AI like that uses a ton of data in order to manage your portfolio. But am I still a bit skeptical about it.
How Much Does It Cost?
As for the pricing, there are three main tiers to choose from. The first one is called Base, which costs $7 a month for access to the iFlip platform. There is a minimum deposit required for this tier which is $500. You can invest up to $10,000 if you choose the Base tier. The second tier is the Premier tier, which costs $17 a month. It allows you to invest up to $25,000. The third tier is the Executive tier, which costs $47 a month. You can invest upwards of $50,000 in this tier. Investments more than $50,000 will require you to call them for pricing.
That’s pretty much the extent of the subscription tiers that iFlip offers. You’re pretty much paying a subscription to get access to the service. On top of that, you’re spending more money to invest in the prepackaged stocks and ETFs.
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Final Verdict – iFlip Review
Despite use of emerging technology in their platform, it’s hard to recommend iFlip. It’s definitely one of the more affordable investment platforms out there. Though the affordability really comes down to the subscription tiers more than anything. The investments themselves still costs a ton of money.
The minimum amount that you could deposit is definitely on the lower end. Which means you could try to see how the platform operates. Though $500 is still a considerable amount of money to spend. There is a possibility that you might get some of it back. But there are still a lot of risks that are innate in trading. You can’t fully expect that AI will consistently manage those risks for you.
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That’s it for my review of iFlip. I hope you enjoyed reading it.
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