Form CRS
HUBBLE INVESTMENTS LLC
FORM CRS CUSTOMER RELATIONSHIP SUMMARY May 28, 2024
INTRODUCTION
Hubble Investments LLC (“Hubble”) is registered with the U.S. Securities and Exchange Commission (“SEC”) as a broker-dealer and is a member of the Financial Industry Regulatory Authority (“FINRA”) and the Securities Investor Protection Corporation (“SIPC”). Brokerage and investment advisory services and fees differ and it is important for you to understand these differences. Free and simple tools are available to research firms and financial professionals at www.investor.gov/crs, which also provides educational materials about broker-dealers, investment advisers, and investing.
Hubble’s parent company Propel(x), Inc. (“Propel(x)”) is a website which enables individuals to view information regarding privately held startup companies. Should such proposed investments be made available for Hubble customers, Propel(x) will collect and provide information on the private placements which will be made available to qualified purchasers and potentially to accredited investors via offerings through Hubble.
WHAT INVESTMENT SERVICES AND ADVICE CAN YOU PROVIDE ME?
Hubble offers brokerage services for private placements made available to qualified purchasers, institutional investors, and accredited investors. Hubble does not offer any other investment products or services. Hubble does at times provide recommendations but does not provide ongoing advice regarding the private placements. Accredited investors can invest as little as $5,000 into a new offering as part of a syndicate which is a pool of investors. Direct investment minimums are $25,000.
Hubble performs due diligence on each offering made available to potential investors, focusing on business, financial and organizational claims of the private company. Only investments that pass this due diligence review” and that have received sufficient investor interest will be open to potential investors. A summary of the outcomes will be made available to interested investors to address relevant investment related information.
CONVERSATION STARTERS. Ask your financial professional—
- Given my financial situation, should I choose a brokerage service?
- Why or why not?
- How will you choose investments to recommend to me?
- What is your relevant experience, including your licenses, education and other qualifications? What do these qualifications mean?
WHAT FEES WILL I PAY?
Investments via Hubble are subject to a one-time 2% fee based upon the amount invested. Hubble reserves the right to waive or amend investor fees on a case-by-case basis at its own discretion.
You will pay fees and costs whether you make or lose money on your investments. Fees and costs will reduce any amount of money you make on your investments over time. Please make sure you understand what fees and costs you are paying.
CONVERSATION STARTERS. Ask your financial Professional-
- Help me understand how these fees and costs might affect my investments.
- If I give you $10,000 to invest, how much will go to fees and costs and how much will be invested for me?
WHAT ARE YOUR LEGAL OBLIGATION TO ME WHEN PROVIDING RECCOMENDATIONS?
When Hubble provides you with a recommendation, it must act in your best interest and not put Hubble’s interest ahead of yours. At the same time, the way Hubble makes money creates conflicts with your interests. You should understand and ask about these conflicts because they affect the recommendations Hubble provides to you. Here are some examples to help you understand what this means.
HOW ELSE DOES YOUR FIRM MAKE MONEY AND WHAT CONFLICTS OF INTEREST DO YOU HAVE?
Hubble receives from the issuer a success fee that is a percentage of the value of securities sold. Hubble, and with its registered persons receives from investors a one-time fee of 2% on each direct investment. This will be charged in addition to the investment and will not be deducted from the total investment amount.
Hubble’s affiliate Planck Fund Management Corp. manages venture capital funds which invest in many of the same private placements that are offered to Hubble investors. Investors should be aware that Hubble, its employees or its affiliated fund may also participate in a deal.
CONVERSATION STARTERS. Ask your financial Professional-
- How might your conflicts of interest affect me and how will you address them?
HOW DO YOUR FINANCIAL PROFESSIONAL MAKE MONEY?
Hubble’s financial professionals are paid a salary and do not receive commissions or compensation based on the volume of deals placed.
CONVERSATION STARTERS. Ask your financial Professional-
- As a financial professional, do you have any Disciplinary history? For what type of conduct?
DO YOUR FINANCIAL PROFESSIONALS HAVE ANY LEGAL OR DISCIPLINARY HISTORY?
No, neither Hubble, nor any of its registered representatives have any disciplinary history. Information on Hubble and its representatives can be found at https://brokercheck.finra.org/.
ADDITIONAL INFORMATION
To receive additional information about Hubble and to request a free copy of this Form CRS as well as to request any up to date information, please call 1-833-266-6735 or email us at: info@hubble.investments.
CONVERSATION STARTERS. Ask your financial Professional-
- Who is my primary contact person? Is he or she a representative of an investment advisor or a broker-dealer? Who can I talk to if I have concerns about how this person is treating me?
Brokerage products and services are offered by Hubble Investments, Member FINRA and SIPC and a wholly owned subsidiary of Propel(x), located at 1 Franklin Parkway, Bldg # 930/1, San Mateo CA 94403. Information about Hubble Investments is available at FINRA BrokerCheck. Hubble Investments does not make investment recommendations and no communication, through this website or in any other medium should be construed as a recommendation for any security offered on or off this investment platform. This website is intended solely for qualified investors. Private investments are highly illiquid and risky and are not suitable for all investors. Investments in early-stage private companies should only be part of your overall investment portfolio. Furthermore, the allocation to this asset sub-class may be best fulfilled through a balanced portfolio of different start-ups. Investments in startups are highly illiquid and those investors who cannot hold an investment for the long term (at least 5-7 years) should not invest.
