We have been operating this investment fund for a few months and most people are shocked that we don’t charge any fees. This is done for a few reasons:
First, we are just starting and we want to get as much brand exposure as possible. While the ‘Todd’ brand has been online for years, we have never brought it close to home and operated within our specialty of finance. We needed to take time associate Todd with finance and I think this experiment has proven to be successful thus far.
Second, the goal, the why, the purpose of everything we do at Todd Capital is to create a new financially conscious African American community. I don’t sugar coat this in hopes of gaining mass appeal. I have a single focus and that is my people. I love everyone but my people need the most help. I know that sometimes having a financial bar (a fee) on anything can prevent people from getting started so we wanted to provide easy entry, easy exit and full transparency to get as many African Americans invested as possible.
Third, we wanted to achieve proof of concept. The investment club was just an idea I had to pool money together but the more I learn about the investment club industry the more I am realizing that a lot of these clubs end up being very successful. I was speaking to my mom who is a CPA (Certified Public Accountant) and she was telling me about a client who became a millionaire operating within a club. I also have read countless stories of successful club by Jeremiah Hamilton (first black millionaire on Wall Street) and even Warren Buffet whose large company today was the result of an investment club/fund.
We are on a mission to get to 100 members so we can then aim for 1000 members. Todd Capital Investment Club and all other related ventures has the ability to completely change the status of our people and I don’t plan on doing anything to prevent that from coming to pass. If that requires monetization then we will be sure to do so in a way that is creative and burdenless (ad income etc). If we can get away with not charging our members then that is even better. I think we can do it.