Major Milestones: Broker-Dealer Takeover & Upcoming Product Launch!

Dear Shareholders,

I hope you’re all doing well. I’m very excited about the progress we’re making at Planet Wealth, and we are all as committed as ever to keeping you informed about the latest business developments as they happen. I know you’re all eager to hear about the headway we’ve made toward our broker-dealer acquisition, the details of which you’ll find immediately below. I also have additional news to share regarding our upcoming product launch, described further down in this email. With that, I’ll jump right into bringing you up to date on what has been a very busy stretch at Planet Wealth: 

Broker-Dealer Acquisition

This is a step-by-step process, and our latest milestone was the recent completion of our due diligence review and signing of a Membership Interest Purchase Agreement. We are being very purposeful and meticulous in every phase of this process. Once the process is complete, and contingent upon FINRA approval of our Continuing Membership Application (CMA), Planet Wealth will assume control of the broker-dealer.  

Let me provide some additional detail about the CMA for the sake of transparency and so that you are aware of the FINRA stipulations we are currently tracking. Under FINRA Rule 1017, a broker-dealer must file a CMA if there is a change in ownership or control. During this process, FINRA will:  

1. Perform an initial assessment of the application’s completeness;  
2. Request additional information (if any) as needed;  
3. Maintain ongoing dialogue with the firm; and  
4. Interview key personnel to fully understand the proposed changes.

By rule, FINRA has up to 180 days from the date the CMA is deemed complete to make its determination. Any new information requests can pause or restart certain timelines, which is why we are taking such care at every step along the way. Your team is committed to doing everything the right way the first time, and to responding promptly so that the process moves along as efficiently as possible.

Upcoming Product Launch

You may have noticed increased activity across our digital channels—including our website, social media platforms, podcast, ads, funnels, landing pages, and registration pages—over the past few months. This isn’t an accident. We’re continuously testing and refining our messaging to optimize user engagement and conversion. Laying a solid foundation now means that we will be able to scale quickly, efficiently, and with minimal impediments to growth once we are ready to supercharge the business.   

Now that we have these testing days under our belts, this month we will begin ads to onboard our initial customer cohorts using Pedro Adao’s challenge framework. This is a major step forward for Planet Wealth. This first cohort will involve real users gaining access to our platform, all of whom will be empowered to organize their own deals and begin raising capital to fuel their dreams. As they work to change their lives and pursue financial freedom, we will be gathering valuable feedback to help us refine our user experience, dial in our marketing efforts, and optimize our overall product offering.

Looking Ahead

Though it may almost go without saying, let me say it anyway so that the team’s enthusiasm is crystal clear: the potential benefits this broker-dealer acquisition can unlock and the value it could bring to our community and shareholders is immense. We are laser focused on delivering an exceptional product experience for our initial cohorts and ensuring a smooth transition of the broker-dealer upon FINRA approval. Big things are happening, we will continue to work to make even more happen, and we will keep you informed along the way.  

Planet Wealth is a community and, like any other community, ours is only as strong as you—our members. Thank you as always for your continued trust and support as we at Planet Wealth aim to reshape the future of finance.  

Lance Woodson 

Co-Founder and CEO