Here is a thing about wealth management that is true and slightly annoying: the more money you have, the better your portfolio gets to be. Not just bigger - better. Structurally better.
If you are very rich, someone builds you a portfolio that owns individual stocks instead of a fund, so it can sell the losers for tax purposes and keep the winners. Someone screens out the companies you find distasteful. Someone quietly unwinds the giant pile of your former employer's stock without handing the IRS a fortune. This is called, variously, direct indexing, tax-loss harvesting, values-based screening and concentrated-position management, and historically it required a human being with a spreadsheet, a trading account and a lot of billable hours.
Everyone else got a target-date fund and a pie chart.
Pave Finance's bet is that the gap between those two experiences is not really a wealth problem. It is a software problem. If you can encode the alpha-scoring, the optimization, the tax-lot accounting and the compliance into a platform, then the expensive, artisanal thing an advisor does for one billionaire becomes a workflow they can run for 60,000 accounts. The luxury doesn't get cheaper because the client got richer. It gets cheaper because the marginal cost of another personalized portfolio approaches the cost of another database row.
That is the pitch. Whether it works is a question of engineering, distribution and regulatory plumbing - which, conveniently, is most of what Pave has spent its time building.
