Enjine (MoneyGeek)

About Enjine (MoneyGeek)

Enjine (MoneyGeek) is a software development business located in the Oakridge neighbourhood of London, Ontario. The company provides a portfolio management tool called Passiv, which is designed to help DIY investors manage their retirement portfolios and maintain a balanced investment strategy. It serves individuals who prefer to manage their own investments and want to avoid high management fees associated with active investment products. Passiv functions as a web app that connects to a user's brokerage account to fetch data, perform calculations, and help maintain a target allocation. The software eliminates the need for manual spreadsheets by automatically calculating the trades needed for new contributions or dividends. Specific features include a dashboard for managing multiple accounts, email notifications when cash hits an account, and rebalancing trade calculations. For Elite subscribers, the platform offers a One-Click Trades feature that allows the software to execute required trades on the user's behalf. The company was founded by Brendan Lee Young and Brendan Wood, who started the venture after becoming disillusioned with high fees in active management. They developed the tool to automate the tedious aspects of passive investing, such as calculating asset allocations and manual data entry. The team has since grown to include a third Brendan. Passiv describes itself as a tool for everyday investors rather than a robo-advisor, as it does not provide investment advice or attempt to outperform the market through algorithmic trading.