Tom Sosnoff, founder of Thinkorswim and Tastytrade, is working on his third new financial platform.
"I'm focusing on something that I think is a big problem in the world on wealth inequality and economic fairness," Sosnoff said, discussing his new venture called Lossdog.
The platform claims to help people understand their own true value through jobs and investing, and potentially grow it through financial education. At its heart, Lossdog says it uses AI, quantitative data and modeling to calculate a person's worth, including details like estimated salary and scenario planning.
But Lossdog also wants to help turn those users into investors with a focus on financial education and investing.
"We're going to build a company that helps people to narrow the wealth gap," Sosnoff told Investor's Business Daily's "Investing with IBD" podcast. He says Lossdog will include financial context, quantitative techniques and more to help investors figure out what they have and what they could make, either from work or from investing.
Audio Version Of Podcast
Lossdog Faces Competition From Thinkorswim, Other Rivals
If it sounds familiar, that's because his two previous services already loom large — and compete in a similar space.
Thinkorswim remains a beloved trading platform among retail investors, with parent company Charles Schwab retaining a top-three position among consumers in several key performance categories according to the IBD Best Online Brokers List 2025.
The Thinkorswim platform, first acquired by TD Ameritrade in 2009 for $606 million, was a core part of the Charles Schwab takeover in October 2020. The deal was worth $26 billion and catapulted Charles Schwab to the top of the Best Online Brokers lists.
Lossdog, meanwhile, still remains an unproven entity and is currently closed to the public. He says the platform will launch in November.
But Sosnoff says Lossdog can still distinguish itself through the quality of its financial education. He says Lossdog will focus on engagement, helping investors consider risk and giving them context around decisions like job or even career changes.
Sosnoff also says Lossdog is a new puzzle to solve. "I'm not retiring, but I need to be challenged, and I like to make decisions," Sosnoff said. "It was time for me to build."
Tap here to watch the full podcast featuring Tom Sosnoff.
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