Top 4 insights in this episode
- Learn how to run a company by running a…boat?
- The shocking benefits of partnering with experienced entrepreneurs/li>
- An unconventional way to get your employees motivated
- Should you really avoid telling your startup idea to other people?
About David Weisz
David Weisz is the co-founder and chief of products of FeeX.
He, like many other gifted guests on our show, graduated from the Zell Entrepreneurship Program where he caught the attention of Uri Levine, legendary co-founder of Waze.
He learned all about how not to sink a company by not sinking the ship he was commanding in his IDF service.
To this day, he tells us, he implements lessons he learned from that ship in FeeX.
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FeeX call themselves “the Robin Hood of fees”, and after saving their users over $300M and counting, they can definitely get away with that title.
“FeeX’s story began when I realized I was a sucker”, says Waze co-founder, Uri Levine.
His wake-up call came in the form of a finance report notifying him he lost 30% of his savings, plus a management fee worth thousands of dollars.
When Levin called the finance company handling his money and complained they agreed to cancel the management fee, and that’s when he realized something in the finance industry needed a fix, or a FeeX.
The result? A free service that finds and helps users reduce fees in their IRA, 401(k), 403(b), brokerage and other investment-type accounts, thus allowing them to retire with more for themselves.
Users just need to upload a scan of one of the supported financial reports and receive investment recommendations for similar funds with lower fees.
To this date, FeeX has raised $9.6M in investments. But for their users, they have “raised” much much more.
4 useful links mentioned in this episode
- Stop paying bloated fees with FeeX
- “The Hard Thing About Hard Things”, David’s favourite book
- Evernote, David’s recommended tool
- The IDC Zell program where FeeX was born
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