"I couldn't find a catch at Selma"

Hi Dominik, why don't you tell us a bit about yourself?

Dominik: Hi, I am Dominik. 👋  I am 23 years old and currently work in child care. Next year I would like to follow my passion and start studying psychology. Aside from that, I am also quite active on Instagram, where I got a lot of followers by coincidence. But that's another story. 😅

What experiences have you had with investing in the past?

Dominik: Like most people my age, I didn't really think and care much about finance or investing. It is a topic that they don't teach well enough in school and you only get confronted with it later in your life. 

The moment I noticed that the management fee at my bank was higher than the interest rate, I decided to look deeper into it and start investing on my own.

However, the frustrating thing is that to outsiders like me investing feels very obscure. It seems a bit shady, very complex and it is really difficult to completely trust someone. 

How did you get to know Selma?

Dominik: I found Selma on Reddit, while I was browsing through some Investment Subreddits. First, I was convinced that there had to be a snag somewhere.

Mostly when something is too good to be true, there are some bad surprises hidden in the fine print.

I took my time to read into Selma and couldn't find anything though. If anything, I was positively surprised by how clear and easy everything was depicted. 

What would you say makes Selma different?

Dominik: That's easy to answer: the way of communication! One day I asked the team a question at a very unusual time (1 AM) in their live chat. I expected an answer within one or two days. But to my surprise, it came within 4 minutes!

Selma's way of communication is personal, sympathetic, and professional. The classical, maybe even planned to be the intimidating distance between client and advisor does not exist at Selma.

What could Selma improve?

Dominik: To be honest, I don't have any big improvement suggestions. An application for my mobile phone would be nice in order to have an easy overview of my investments all the time. But all in all, I am very happy with Selma. (Edit editor 2022: By now Selma has an app!)

Bonus question - what is your investment tip? 🌟

Dominik: It is always smarter to go through everything at least twice. Also: never be ashamed to ask questions. In the end, it is the money you want to invest.