Form CRS Conversation Starters
Interest Financial, LLC
This document is a supplement to our CRS - Customer Relationship Summary. Please see that form for additional details about our services.
Given my financial situation, should I choose an investment advisory service? Why or why not?
We believe it’s important to build an investment portfolio, but we understand that there are often barriers to getting started. For example, many investment advisers require a minimum amount of assets to become a client, and many investment options require a minimum initial purchase. For an investment adviser to build a diversified portfolio for you may require thousands of dollars for an initial investment.
Our philosophy is that we help to break down some of the barriers and make it easier for you to start investing in smaller increments by buying fractional shares of the public companies where you make purchases, such as a retail store or gas station. Owning shares of your favorite companies makes investing fun and exciting.
We don’t provide personalized investment advice; instead, our services are intended to help you take those first steps down the path to investing and financial security. If you require more comprehensive advisory services, many options exist. You should consider your individual needs in deciding whether to hire an investment adviser and selecting the appropriate service.
How will you choose investments to recommend to me?
We don’t make investment recommendations for you. You decide which securities are purchased in your brokerage account based on your spending activities. If you buy a latte at Starbucks, you’ll purchase $1.00 of Starbucks stock. Use your card to pay your monthly Netflix subscription, and you’ll purchase $1.00 of Netflix stock each month. The more you spend using our app, the more investments you’ll make in the companies you love.
What is your relevant experience, including your licenses, education and other qualifications? What do these qualifications mean?
The advisory services offered through the Grifin Platform are provided by Interest Financial, LLC, a registered investment adviser registered with the United States Securities and Exchange Commission (SEC). Registration as an investment adviser does not imply any level of skill or training. We do not provide personalized or individualized advice. We are considered a “robo-adviser” as our services are provided solely through a platform which includes a website and mobile app.
Robert Starr is an investment adviser representative of Interest Financial, LLC and is responsible for oversight of the advisory services provided. He obtained his Bachelor of Science in Business Administration, specializing in Finance from University of Florida. He also holds the Series 65 license.
Help me understand how these fees and costs might affect my investments. If I give you $10,000 to invest, how much will go to fees and costs, and how much will be invested for me?
In practice, your investments will be made in increments of $1.00 for each purchase transaction, so you would need to make 10,000 purchase transactions to invest $10,000. Although the entire $10,000 would be deposited into your brokerage account, there are some fees and costs involved.
The amount of fees you will pay depends on how much cash you hold in your brokerage account. We receive an asset-based fee which is calculated, monthly on the amount of cash held in your brokerage account. Our fee is equal to a portion of the interest earned and is paid to the Firm for various services the Firm may provide. Further details can be found in our Wrap Fee Brochure. The more cash you hold in your brokerage account, the higher your program fee will be. If you do not hold any cash in your brokerage account, your fee will be zero.
The Grifin Platform offers a wrap-fee program which means that you do not pay commission fees for the purchase and sale of securities in your account. However, the broker may impose other fees for actions such as overdrafts, transfers,or copies of documents. A complete list of broker fees can be found here. In addition, you should be aware that your $1.00 investments are used to purchase fractional shares of publicly traded companies, and fractional shares are not transferable. You may be required to pay additional fees to liquidate fractional shares if you want to transfer your account to another broker in the future.
How might your conflicts of interest affect me, and how will you address them?
Because your fees are based on the amount of cash you hold in your brokerage account, we may have an incentive to encourage you to increase the cash in your brokerage account. However, this conflict of interest is mitigated because you have the sole discretion to determine how much cash you will hold in your brokerage account at any given time.
As a financial professional, do you have any disciplinary history? For what type of conduct?
Neither Interest Financial, LLC nor any of its associated persons have any disciplinary events relating to investment advisory activities.
Who is my primary contact person? Is he or she a representative of an investment adviser or a broker-dealer? Who can I talk to if I have concerns about how this person is treating me?
As a robo-adviser, our services are provided solely through the website and mobile application. We do not provide individualized or personalized investment advice. However, if you have any questions regarding your account or if you require technical support for the Grifin Platform please contact us at firstname.lastname@example.org . If you have any questions regarding the CRS or Conversation Starters please contact us at email@example.com .