Our story: Radu Sielecki, founder of Anchorfolio

Summer 2024

Learning the Basics

Like most investors in Romania, we started with local brokers and high-fee funds. We spent nights reading prospectuses and learning why a “10% gain” can feel much smaller after fees and taxes.

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Comparison #1: The Fee Trap

Traditional Mutual Fund (3.6% TER)

Direct indexing (0.9–1.0% est.)

Autumn 2024

Outgrowing the Tools

We diversified with ETFs. But our data was everywhere: one broker for BVB, another for US stocks, plus a Google Sheet trying (and failing) to keep up with FX moves and real-time net worth.

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Comparison #2: Data FragmentationHigh Friction

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“Checking my net worth shouldn't feel like a part-time job.”

Spring 2025

Hitting Obstacles

For months I bought whatever the script told me to, confident my replication was on track. It wasn't — and I had no way of knowing, because nothing had broken loudly. I had not even reached tax season yet: gains across several currencies and local rules, all worked out by hand. I had nothing to declare, but the tooling was already working against me.

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The Ancestor of Replication

A script that read BVB and told me what to buy to keep my replication on track. BVB changed one small thing, and the script did not crash — it kept answering, wrongly, for months.

Who builds it

A financial product needs real people behind it.

Anchorfolio is built by Radu Sielecki in Bucharest, starting from first-hand workflows: tracking a BVB portfolio, comparing ETF vs mutual fund costs, and calculating net dividends.

Founder

Radu Sielecki

Founder of Anchorfolio · Bucharest, Romania

Before Anchorfolio was a product, it was a folder of spreadsheets and Python scripts I used to make sense of my own investing. The numbers that matter most — real cost, dividend tax, CASS — were the hardest to see at a glance. It's the tool I wish I'd had.

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First-hand experience

The story starts with a real portfolio, broker statements, and the need to understand returns after taxes and fees.

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Verifiable methodology

The calculators show the assumptions they use: TER, dividend tax, CASS, EUR/RON rate, and minimum gross salary. When an assumption changes, it should be visible.

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No return promises

Anchorfolio does not sell the illusion of a guaranteed formula. The goal is to show costs, taxes, and progress so investors can make better-informed decisions.

Anchorfolio content is educational and informational; it is not financial, tax, or investment advice. Contact us

Our Story