Meet Tory Reiss, CEO & Co-Founder at Equi:
Meet Tory Reiss, Co-Founder and CEO of Equi, a financial technology company combining hedge fund principles with cutting-edge technology. With a background in technology and a passion for financial literacy, Tory’s journey led him to create Equi, driven by the need for better wealth diversification options. In this podcast episode, we discuss global hiring, remote work, employment compliance, employment law, contracting, and gain valuable insights from a tech leader at the forefront of innovative financial solutions.
Listen Up: Tory Reiss, CEO & Co-Founder at Equi — Full Podcast Episode on Spotify
Watch Now: Vit’s In-Depth Talk with Tory Reiss
Quick Read: Tory Reiss, CEO & Co-Founder at Equi, Interview Highlights
Introduction
Hello, it’s Vit Koval, your host for Default Global podcast. In this episode, I had an insightful discussion with Tory Reiss, CEO and Co-Founder of Equi, a financial technology company that combines hedge fund and technology company aspects.
Inception of Equi
When I asked Tory about his journey, he stated:
“I’ve been very passionate about financial literacy for a very long time. Dealing with entrepreneurs and executives from all walks of life and how they think about and relate to money, it led me to think about it a lot.”
Tory’s ambition to diversify and protect his wealth led him to establish Equi.
Equi’s Unique Approach
I delved deeper into how Equi differentiates itself in the market.
Tory explained, “We actually have an investment team, with investment professionals and a lot of the technology we build and the models we build and the data we focus on is actually on the investing side…the best companies are those that can both create the technology and build the financial products themselves to suit the needs of the customer.”
The Principle of Tikkun Olam
Upon discussing Equi’s core values, Tory talked about Tikkun Olam, a principle that encourages repairing the world through giving time, knowledge, and money.
“We hope to integrate charitable giving into the platform ourselves so we can give portions of our profit towards causes we care about, but also integrate in the platform so that our customers can do that as well,” he explained.
Data-Driven Approach
With the overflow of options in the investment market, Tory stated:
“we use data…we have data going back decades on almost 13000 different funds…We’re able to sift through it to find really the top 1 percent. And then it’s within that universe that we’re then actually starting the real diligence process…”
Hiring Principles
On the subject of growing the team at Equi, Tory emphasized the importance of hiring missionaries over mercenaries. He stated:
“You really need to find missionaries, not mercenaries…hire for intelligence and potential more than experience.”
Contractors to Full-Time Employees
Tory shared his unique approach of hiring contractors first and transitioning them to full-time employees. He believes this strategy is beneficial as it reduces the upfront vetting process and allows both parties to gauge compatibility before making a long-term commitment.
Global Expansion
When asked about global expansion and customer reach, Tory explained:
“From day one, we’ve actually had customers all around the world because as it ends up, some of the greatest demand for these types of products come outside the US…That’s our goal.”
Surviving Economic Downturn
Tory’s advice to businesses during economic downturns was to focus on cost reduction and conservative forecasting. He stated:
“The best way to grow amidst volatility is to be very conscious of your costs…focusing on survival and being conservative is what’s going to allow you to capitalize.”
Final Thoughts
To sum up, Tory Reiss shared valuable insights on financial technology, hiring strategies, and surviving economic downturns. His unique perspectives and strategies at Equi certainly make him a thought leader in his industry.
