Overview

Frec provides a self-serve fintech platform for direct indexing, letting customers directly own the individual stocks in an index (like the S&P 500) instead of buying an ETF. The platform enables daily tax-loss harvesting at the stock level and also offers a Frec Treasury cash option, portfolio lines of credit, zero-commission trading, and venture-related money market fund access. It operates through two SEC-registered entities—Frec Advisers LLC and Frec Securities LLC—and charges an annual advisory fee starting at 0.09% with a typical minimum around $20,000 for most indices. Frec differentiates itself by combining stock-level tax-loss harvesting on a consumer-facing, self-directed platform with banking-style cash management and credit features, aiming to broaden access to sophisticated investing strategies for self-directed investors.