Is Recompound Legit?
Huray Budi got a license from OJK and his advisory service is officially open to public
After publishing hundreds of posts on Instagram, saying nice (and hopefully wise) things, after writing an article newsletter almost weekly (Toby caught red-handed being lazy) offering our thoughts on investments, technology and lifestyle and finally, after following Recompound social media for a month, two months or even a year. You might be thinking to yourself:
Is Recompound Legit?
Are these guys set out to scam us?
So let’s discuss this question head on.
First things first
If your definition of legit is any of the following:
“Recompound is guaranteed going to make me money in the capital market”
”I will never have a losing investment if I listen to Recompound”
”I am going to be rich tomorrow, next week or the next couple of months because of Recompound”
”Recompound is the master trader that can time the market like a soothsayer that always accurately predicts stop losses and peak market euphoria”
You get the idea. Then, I am sorry but no. We are not legit. You can close this article and look for a different service provider. If you need convincing on how you can lose money after subscribing to the service, here are three simple steps:
Sign up
Start investing
A couple of months later if there’s drawdown, stop the service (yes, you can cancel the service anytime)
That’s how you can lose money even after subscribing.
Cool, cool, cool now some of you might want to see if we are legitimate by looking at the license we have
Well, Budi Ryan now has a Penasihat Investasi (Financial Advisory) license from OJK. This allows investment recommendation activities to be fully legal as our customers will now sign a work agreement with Budi Ryan and pay Budi Ryan for the advisory service.
You will be receiving investment advisory services from Budi Ryan and you will be paying your subscription fee to Budi Ryan for the services you receive. Recompound is here to help Budi Ryan market his investment advisory services.
So yes, Budi Ryan’s advisory work setup is legal, licensed and supervised by OJK.
But not everything that is licensed and supervised by OJK is legit right? I mean for sure there are OJK licensed entities out there who:
commit fraud
goes bankrupt
etc
We don’t want to name names but there is that company who receive funds from public and then channel it to farmers. They seem to not be in a pretty good place, although used to be licensed by OJK.
So are you sure that we are legit because Budi has a license from OJK?
Maybe you are still not convinced
Maybe you are not convinced, because we have a performance fee model, there will be months whereby we will not be accepting payments. They will need to get payment from somewhere.
Well, currently Recompound operators are nicely paid a monthly stipend to ensure our existence. Thanks to none other than our backers:
Other Angel investors who are entrepreneurs themselves that provide timeless business advice and push to our core team to keep building.
They are motivated by our shared vision of building the financial advisory industry in Indonesia. We believe that the average Joe all the way to C-level execs in renowned companies don’t have access to analytical and transparent investment intelligence. Mostly good investment intelligence is only available to the super high net worth.
That’s why the above institutional investors invested in us where our latest fund raising round happened in late 2024 🙂
But are you really sure that we are legit because we’ve received investments from reputable investors? I mean we are very sure you are well aware of the fiasco of startups that commit frauds despite receiving sums of money from external investors. e-commurz covers the news quite nicely.
So it must boil down to the Founders!
Well educated and honest operators are key to ensure that the company is not going to scam me.
That’s right!
Thankfully, Toby believes that he’s educated after obtaining a full scholarship from MOE in Singapore to study in the prestigious Yale-NUS College (although it shut down, sad) with an acceptance rate of around 5%. He graduated with a neat Cum-Laude and went on to work at a prestigious bank.
Budi also went to Hong Kong University of Science and Tech (HKUST) on a scholarship and he’s had a couple years of corporate experience in GOTO Financial and Shopee.
Although Toby and Budi don’t have an updated CV because they are not looking for jobs at the moment, but maybe they did pretty alright as far as education and career goes.
So we must be pretty legit right?
Waaaiit, not so fast. Haven’t you heard about the guy with the curly hair who ran a global crypto exchange? He graduated from MIT with multiple backers and support. The wikipedia page says that he’s now a convicted felon. So even graduating from a super famous school in Boston does not guarantee legitimacy.
Okay I give up trying
At some point, all of these “legitimacies” that you see will always have flaws, cases, “to good to be true” elements to it. Heck, even Goldman Sachs, with a hundred years+ history, run by incredibly talented people (of course because I used to work there), regulated by numerous financial authorities in the global jurisdictions they operate in and a super prestigious brand name can still be involved in a massive 1MDB corruption scandal in Malaysia, underwriting 1MDB bond issues.
So I think that whether or not we are legitimate depends on how well you study how our product works.
How do you lose? Can we run away with your money?
Is the investment recommendation and research from Budi and team better than your own investment research? Do you understand it?
Do you believe the investment philosophy? Is it aligned with yours?
If we can run away with your money, then run away as we are not legit.
If your own investment research is better and more analytical, then we may not be legit to you.
If you do not believe the investment philosophy as you share a different one, then we may not be legit to you.
Ultimately, we urge consumers to be smarter consumers to learn if what they buy is good for them or not. No amount of license, investment, good track record or education can help you be a smarter consumer. Only you can only make yourself smarter and decide for yourself if an entity is legitimate enough to serve your purpose or not.
If you think we are legitimate to help you with your investment goals, I am going to do a shameless plug and put the registration link here. Or you can visit our website first for more info 🙂