Founder Spotlight: Why Simran Kang left one of the Big Four accounting firms to start MyFO

Welcome to Vancouver Tech Journal’s founder spotlight, where we get into the backstory of the people leading Vancouver’s must-know companies.

How do you decide if an idea is worth pursuing?

You could spend hours, days, or months conducting market research and validating. Or you can trust your instincts and take action the moment the idea strikes out of the blue. 

That’s what Simran Kang did when, on a whim, she took some paper and drew up a platform to help individuals start and grow a family office to manage their wealth: MyFO – which has since won awards and set notable benchmarks.

At the time, Kang had worked as an accountant for PwC for over a decade and was running a multi-family office with former colleague and co-founder, Alice Chen. 

When the two found themselves repeatedly facing the same pain points and struggling to scale, Chen encouraged Kang to consider how to make all her expertise more accessible.

“What does she want me to do? Write a book?” Kang thought to herself. She pondered the question for a while and ended up staying up late.

Then, the idea for MyFO came to mind as she thought about how much of her work was being done manually and no software was available to help.

Kang took the time to sit with Vancouver Tech Journal to share more about her ‘accidental entrepreneur’ journey in building MyFO, which habits are making the biggest difference in her life, and key advice for other entrepreneurs.

• Where were you born? Edmonton, Alberta

• What did you want to be when you were a kid? An astronaut

• Favourite class in school? Math

• Previous job before starting MyFO? Founder of a multi-family office

• How do you commute? Walk

• What time do you normally wake up? 7 a.m.

• What’s the first thing you do when you wake up? Usually check my phone, although I know you’re not supposed to do that

• What time do you normally sleep? 11 p.m.

• What’s the last thing you do before bed? My skincare routine

• What are you reading right now or listening to? 12 Months to $1 Million by Ryan Daniel Moran and Russell Brunson

• Where do you normally work from? Home

Elevator pitch — what does MyFO do?

Imagine managing all aspects of a family office or your personal wealth in one intuitive platform – that's what MyFO offers. 

We streamline complex wealth management by integrating asset tracking, document management, and personalized financial advice into a single, user-friendly interface. 

Our cutting-edge AI tools provide actionable insights, making sophisticated wealth management accessible to everyone — not just the ultra-wealthy. 

With MyFO, onboarding takes hours, not months, transforming how you manage, grow, and preserve wealth across generations. 

MyFO isn't just a platform; it's the right thing to do for your family. 

Why did you start MyFO?

We launched MyFO to tackle a clear challenge: the heavy reliance on human capital in managing the intricate details of family offices and personal wealth. 

Our goal was to digitize and streamline these labour-intensive aspects, making wealth management more efficient and accessible. 

By leveraging technology, we aimed to transform traditional practices, allowing families and individuals to manage, grow, and preserve their wealth with ease.

MyFO embodies this shift towards a digital-first approach, offering a comprehensive platform where the complexities of wealth management are simplified, ensuring a legacy of financial prosperity for generations.

Have you raised any money?

Yes, we’ve raised $1.5 million in pre-seed funding.

What do you wish you knew when you started?

I wish I had released an early beta version that was a hybrid digital and analog product and started charging customers sooner. 

What’s one of the biggest challenges you’re facing right now?

At the moment, one of our biggest challenges is effectively scaling to meet the surge in demand for our platform. 

As interest in MyFO grows, we're navigating how to expand our infrastructure, team, and processes quickly enough to absorb and serve our increasing customer base without compromising on the quality or security of our service. This challenge is a testament to the value and need for our solution in the market but it requires strategic planning and execution to scale sustainably.

At the same time, we're focused on continuing to differentiate MyFO from other wealth management platforms and family office software. 

The landscape is constantly evolving. Our challenge lies in not just staying ahead in terms of innovative features and user experience but also in clearly communicating our unique value proposition to our target audience. Ensuring that potential users understand what sets MyFO apart — from our comprehensive asset tracking and AI-driven insights to our user-friendly interface and rapid onboarding process — is critical to our ongoing success and growth.

What’s the most memorable milestone in your career so far?

So far, the most memorable milestone in my career has been the overwhelmingly positive feedback from our team at MyFO. 

It’s been incredibly rewarding to hear firsthand how much they appreciate the work environment, are eager to bring their friends on board, and feel genuinely connected to MyFO's mission. 

It's one thing to build a successful product or service but to create a company culture that inspires loyalty, excitement, and a shared sense of purpose is truly fulfilling. 

Also, having two of my good friends join me on this journey has made the experience even more special. It's a testament to the trust and belief we share in what we're building together. 

What are you learning right now?

Currently, I'm dedicating time to personal and professional growth by working with a coach to improve my time management skills. 

The fast-paced environment at MyFO demands efficient use of time, and mastering this aspect is crucial for balancing the myriad responsibilities I face daily. 

I'm also focused on becoming a better leader for my team. This involves learning how to delegate more effectively — a skill that's essential for scaling operations while ensuring the team feels empowered and trusted. 

Delegating not only helps me manage my workload but also fosters a culture of responsibility and growth among team members. These learning areas are instrumental in guiding MyFO's journey forward, ensuring we not only meet our strategic goals but also build a resilient and dynamic team culture.

Do you have any mentors?

Yes, Jeff Tijssen, a Bain & Co fintech leader and professional coach. 

What’s a recent habit you’ve picked up that’s made a difference in your life?

Practicing deep breathing when I’m feeling stressed, blocking half my time in my calendar each day to catch up and follow up, and no more than four hours of external meetings daily.

Where do you see yourself in 3, 6, and 9 years?

In three years, I envision myself having successfully scaled MyFO to become a leading platform in family office and wealth management — recognized for its innovation, user-centric design, and impactful contribution to financial technology. As a team leader, I hope I’m seen as someone who focuses on fostering a culture of excellence and continuous learning within the organization.

Six years from now, I anticipate taking on new challenges, possibly exploring additional ventures that complement MyFO's mission. Professionally, I aim to be at the forefront of tech innovation, contributing to the broader fintech community through mentorship, thought leadership, and strategic partnerships. I also see myself actively involved in initiatives that promote financial literacy and access to financial tools for underserved communities.

In nine years, my goal is to have established a lasting impact on the wealth management industry, setting new standards for technology-driven financial services. I imagine myself leveraging my experience to support up-and-coming entrepreneurs — especially in the fintech space — and contributing to the development of ethical, transparent, and user-friendly financial technologies. 

On a personal level, I hope to have achieved a balance that allows me to dedicate time to giving back, personal interests, and family — reflecting the values of balance and holistic well-being that MyFO promotes among its users.

How do you prevent burnout?

I did a terrible job of this last year and was burnt out. 

For me, working out and getting outside everyday are crucial to my mental health. And as I’m learning how important time off and shutting off is to prevent burnout, I’ve started to block off time to be alone and think.

What advice do you have for other entrepreneurs?

Surround yourself with talented and smart individuals who share your passion and vision. The people you work with can significantly influence your journey — providing diverse perspectives and skills that drive your business forward. 

Don't hesitate to ask for help. Whether it's seeking advice on a challenging decision or needing support for day-to-day tasks, reaching out shows strength. 

Invest in good mentors. A mentor who has navigated the path you're on can offer invaluable guidance, help you avoid common pitfalls, and accelerate your growth. 

What’s your favourite coffee shop in Vancouver?

Revolver.

What’s your favourite restaurant in Vancouver?

Savio Volpe.

What’s your favourite vacation spot?

I don’t have one as I like going to different places. I’m happy as long as there’s a mountain or a beach nearby. 

What website or app do you visit the most?

It’s likely ChatGPT.

What’s your favourite show to binge watch?

New Girl.

Who’s one person or brand everyone should follow on social?

Andrew Huberman.

Do you support any charities? If so, which ones and why?

BC Children's Hospital for personal reasons. I have had close family and friends’ children admitted to the hospital.  

What does Vancouver’s tech ecosystem need the most?

Capital and investment in startups — especially female founders. 

What kind of support can you offer the community?

Mentorship and connections.

How can people connect with you?

LinkedIn is best.

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