Free World Investment

What Free World Investment does

Free World Investment (FWI) is a US-registered investment advisor operating as a trade name for Running Oak Capital (ROC), a private investment management firm that launched the FWEG portfolio on June 1, 2022. The firm offers a single core product — the Free World Efficient Growth (FWEG) portfolio — a Separately Managed Account (SMA) of US equities that excludes companies with significant presence or interests in six designated repressive regimes (China, Russia, Iran, North Korea, Cuba, Venezuela). The screening is driven by the proprietary FWI Scoring System, which assesses country investment risk across the S&P 500 and Nasdaq 100, and is layered on top of Running Oak Capital's rules-based Efficient Growth equity strategy developed over more than 40 years. FWEG has delivered 10.07% annualized net returns since inception versus 6.56% for the S&P 500 Equal Weight Index.

FWI targets US individual investors with tax-advantaged retirement accounts (IRA, Roth IRA, 401(k) rollovers) who seek ethical investment exposure aligned with human rights and democratic principles. Accounts are opened at custodian firms — Charles Schwab and Interactive Brokers — with Running Oak Capital executing trades and charging recurring portfolio management fees; no additional custodian or transaction fees are passed through to clients. The go-to-market is sales-led and consultation-driven via Calendly, supported by organic social media presence on LinkedIn, Twitter, Facebook, and Instagram, with no external venture or private equity funding disclosed.

The firm is founder-led: Larry Chan (former Managing Director at major US investment banks; Wharton MBA, Stony Brook valedictorian) and Daniel Wong (LSE MSc Global Politics, political-risk researcher) serve as Co-Founders and Managing Partners, with Seth L. Cogswell (former Trillium Multi Horizon Fund portfolio manager) as Founder and Managing Partner of the parent Running Oak Capital. Jeff Broders is COO and Chief Compliance Officer of the parent. Honorary Advisors include Professor Joseph Yizheng Lian (PhD under Nobel laureate Edward Prescott; former Hong Kong SAR policy advisor) and Gordon Poon (veteran international banker).

Name

Free World Investment

Legal name

Running Oak Capital, doing business as Free World Investment

Website

https://freeworldinvestment.com

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

1–10 employees

Short description

Free World Investment is a US registered investment advisor offering an ethical US equity separately managed account (FWEG portfolio) that screens out companies with exposure to six repressive regimes via a proprietary country-risk scoring system, serving individual retirement-account investors through major custodians.

Ownership category

akta.pro rank

Product category

Investment Advisory Services

NAICS

Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394)

SIC

Investment Advice (6282)

akta.pro primary industry

Execution-Only / Self-Directed Investing Platforms (FSAAAAAI)

akta.pro secondary industry

ESG Integration / Responsible Investment Funds (Broad ESG) (FSANAJAL)

Keywords

• Ethical investment portfolio
• Separately managed accounts
• Geopolitical risk screening
• Equity management strategy
• Wealth management advisory

Headquarters

HQ city

Washington

HQ country

United States

HQ region

North America

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Portfolio Management Fees: Revenue generated through management fees for the Free World Efficient Growth (FWEG) portfolio managed as Separately Managed Accounts (SMA). Clients hold assets in custodian firms (Charles Schwab, Interactive Brokers) while Running Oak Capital executes trades. No additional custodian fees or transaction fees are charged.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels6 records

Core offering

Free World Investment (FWI) operates as a registered investment advisor offering the Free World Efficient Growth (FWEG) Portfolio, a US equity Separately Managed Account (SMA) that screens S&P 500 and Nasdaq 100 companies for exposure to repressive regimes (PRC, Russia, Iran, North Korea, Cuba, Venezuela) using its proprietary FWI Scoring System. Client assets are custodied at Charles Schwab or Interactive Brokers while Running Oak Capital executes trades and portfolio management decisions on behalf of clients.

Product overview

Free World Investment (FWI) operates as a registered investment advisory firm offering ethical investment strategies. The core product is the Free World Efficient Growth (FWEG) Portfolio, a separately managed account (SMA) that screens US equities for exposure to repressive regimes using the proprietary FWI Scoring System. The FWEG portfolio is built upon Running Oak Capital's Efficient Growth strategy with additional ethical screening to exclude companies invested in China, Russia, Iran, North Korea, Cuba, and Venezuela.

Differentiator

Problem solved

Functional benefit

Brands

• Free World Efficient Growth (FWEG) Portfolio: An ethical investment portfolio consisting of companies with no significant presence or interests in repressive regimes (China, Russia, Iran, North Korea, Cuba, Venezuela), designed to provide stable growth opportunities while mitigating geopolitical risks.
• FWI Scoring System

Products and services

• Free World Efficient Growth (FWEG) Portfolio An ethical, rules-based US equity investment portfolio delivered through Separately Managed Accounts (SMA) that excludes S&P 500 and Nasdaq 100 companies with significant presence or interests in repressive regimes (PRC, Russia, Iran, North Korea, Cuba, Venezuela). Targets stable growth with lower downside risk relative to the S&P 500 Equal Weight Index. Designed for individual investors with retirement accounts (IRA, Roth IRA, 401(k) rollovers).

Quantifiable outcome

• FWEG portfolio achieved 10.07% annualized net returns since June 1, 2022 inception, outperforming S&P 500 Equal Weight Index at 6.56%
• +2 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

One partnership is on record.

• Running Oak CapitalcoreStrategic or Co-development PartnerRunning Oak Capital (ROC), doing business as Free World Investment (FWI), is a registered investment advisor in the United States. FWI's FWEG portfolio is built upon the Efficient Growth portfolio offered by ROC with additional screening via the FWI Scoring System. ROC provides the rules-based investment strategy and portfolio management, having developed the Efficient Growth approach over 40+ years. As of December 2024, ROC has approximately $800 million in AUM.

Scale indicators3 records

Recent moves6 records

Expansion highlights4 records

Market position

Strengths4 records

Competitive moat4 records

Customer concentration

• Xx.com/freeworldinvest
• Facebookfacebook.com/freeworldinvestment
• LinkedInlinkedin.com/company/freeworldinvestment
• Instagraminstagram.com/freeworldinvestment

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Free World Investment