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We need all the help we can get in life. There’s a lot of advice out there about building wealth and wise money management, but trying to keep track of tactics and plans can be overwhelming. However, it doesn’t have to be a tough route. MyFO is the first consolidated, subscription-based financial management software that prioritizes transparency—from bank accounts to investments.
MyFO, which stands for My Family Office, was born out of inefficient workflows due to technology gaps. As a result, this Canadian startup, founded by Simran Kang and Alice Chen, is the first FinTech platform making family office management accessible to anyone interested in building wealth—not just the 0.01%.
“The biggest problem in wealth management is that every single solution—whether it’s an institution or individual, technological or otherwise—is a siloed one,” Kang and Chen explain. “No software brings everything together into a cohesive whole.”
MyFO stands out in the market because it offers a never-before-seen solution. The platform consolidates all your assets, key people in your life and all the essential documents governing your existence in an easy-to-use subscription platform, depending on the features best suited to you.
Kang and Chen have diverse but complementary backgrounds, making them a powerful duo. Collectively, they bring more than two decades of business experience to MyFo, which enables them to add value to the product and service MyFO offers.
Kang is a recognized leader in family office management with a decade of experience advising ultra-high-net-worth families from a multi-faceted career in accounting and finance. A PwC alumnus, Kang serves on the board of the BC Tech Association, a nonprofit organization dedicated to growing tech companies in British Columbia. She was also a member of the board of advisors for Ascend Leadership.
Chen is a five-time serial founder who successfully incubated multiple seven- or eight-figure businesses and one exit in the past decade. She was named a Top 40 Under 40 in 2013, three years into a career pivot from a practicing lawyer. Her other accomplishments include being featured in international publications like the Wall Street Journal, Thomson Reuters, MacLean’s, and Canadian Business. In addition, Chen has served as one of the youngest board directors of the Greater Vancouver Board of Trade (2015-18) and is a founding member of the World Trade Center (YVR) Advisory Board.
Since its launch, MyFO has hit several milestones, including winning awards and raising $850,000 in pre-seed funding. The founders’ dream is to make MyFO the standard of digitization and sophistication for managing your wealth and—most importantly—make wealth management more accessible to the 99.99% of people who aren’t ultra-wealthy.