Apiary Fund Enjoys Strong Growth Since Fee Structure Change
Back in June, our client Apiary Fund (www.apiaryfund.com) changed its fee structure in a strategic move to help make it easier for a broader range of people to participate in its training to become traders. The $997 up front fee was eliminated – all people needed to do was pay the monthly $97 subscription fee.
“The results of the move have been phenomenal,” said Shawn Lucas, founder and CEO of Apiary Fund. The company has taken on many more associates and its overall retention rate of associates has increased dramatically. This has caused the company to grow more than 5X since June with a more than 50 percent increase in employees to service its growing number of associates and traders.
One other item that was recently eliminated as well – again to make it easier for participants to become associates – was the graduation requirement of three classes: Risk Management, Trading Psychology and Trading for Consistency. Apiary Fund still strongly recommends associates take these classes voluntarily, which has an additional fee attached, but they are no longer required for graduation.
Apiary Fund believes the increase in associates and traders is a win-win for everyone. It makes the fund more diverse, lowers risk and allows more people to participate.
The growth comes on the heals of the company’s recognition as a 2013 Utah Emerging Elite company by MountainWest Capital Network (www.MWCN.org) during the annual Utah 100 Fastest Growing Companies event. The company anticipates that it has capacity currently for as much as 200 times its current size and believes the growth trend will continue through 2013 and 2014.
Additionally, the company noted that revenues gained from trades go back into the fund. Company operations are funded solely from revenues gained through associate subscriptions.
Apiary Fund teaches participating associates how to trade in foreign currencies. With minimal cost for the training and no personal financial investment, Apiary Fund allows anyone to become a trader. Once they reach a level of proficiency with simulated trades as part of the training, traders use Apiary Fund’s capital for real trades and receive a percentage of the earnings from successful trades.
With hands-on experience, new traders increase their earning ability, which creates a win-win situation for both Apiary Fund and its traders.