Conflict of Interest Disclosure
Last Updated: September 15, 2026
We write about investing, we teach investing, and we sell investment advice. The same people who tell you what a good portfolio looks like are paid when you hire us to manage yours. That is a conflict of interest, and it is not a small one. This page sets out every way we make money from you, where our interests and yours pull in different directions, and what we do about it.
Read this before you pay us anything, not after. If anything here changes your mind, that is the document working as intended.
1. Who you are dealing with
Recompound is owned by Brilitech Pte Ltd, a company registered in Singapore, and operated by PT Solusi Brilian Digital Nusantara, a company registered in Indonesia.
Recompound acts as a marketer. The investment advice itself comes from Budi Ryan, an investment advisor individually licensed and supervised by Otoritas Jasa Keuangan (OJK) under Nomor Kep-1/PM.021/PI/2025. You can verify that registration on the OJK public register.
Other members of the team write, present, and take part in the work we publish. Where anyone other than the licensed advisor contributes, the advisory responsibility for anything personalised rests with the licensed advisor named above.
2. Everything we earn, and when
There are three ways money moves from you to us.
We are not paid by anyone else. No broker, fund, issuer, or platform pays us to send you their way, and no part of what we earn depends on how often you trade.
3. The main conflict: everything we publish and sell is also how we find clients
Our free content, our courses, our research, and our paid sessions are not separate businesses that happen to sit beside the advisory. They are how people arrive at the advisory. None of them would be worth running at their price if nobody who read or attended them ever became a client.
That means we have a financial interest in you concluding that your portfolio needs managing, and in you choosing us to manage it. You should weigh what we tell you in that light. A reviewer with no such interest might reasonably reach a different conclusion about the same portfolio.
Where you have bought a one-off product from us, we will usually follow up with a written offer to become a client. That offer is a sales approach. It is not part of the advice or the material you paid for, and what you paid for is complete without it.
4. We may already own what we discuss with you
Recompound advises client portfolios built from Indonesian listed equities, and writes publicly about the same market. Overlap between what we discuss with you or publish and the positions we hold or recommend elsewhere is likely rather than incidental.
This creates two specific risks you should be aware of:
- We may speak favourably about a stock that we, or the clients we advise, already hold — and a rising price benefits those positions.
- Public commentary on a thinly traded stock can move sentiment, and we hold positions that such movement could affect.
5. What we publish has its own incentives
A good part of what we do is published: writing, recordings, and sessions that are edited into episodes. Where your own session is recorded and published, that trade is set out in the terms for that product and you consent to it before you pay.
The conflict is subtler than the money. A portfolio with a vivid, instructive mistake in it makes a better episode than a portfolio that is quietly sensible, and a strong opinion travels further than a measured one. We decide what is published and how it is edited. You should know that an editorial interest exists alongside the advisory one, and that they do not always point the same way.
Where you appear in something we publish, your identity is disguised: your name, your voice, and every rupiah figure. You may correct how you have been disguised before publication. You do not have a veto over publication itself.
6. What we do to limit these conflicts
None of the following removes a conflict. They are constraints we place on ourselves, and you should judge them as such.
- Fees for one-off products are not contingent on the outcome. We are paid the same whether or not you become a client, so nobody in the room is working for a commission.
- The client offer is made afterwards, in writing. It is deliberately not made on camera and not made during time you have paid for, so that the time you paid for stays advice rather than a pitch.
- We never hold your money. Your funds stay in your own brokerage account, in your name. Recompound has no custody of client assets and no discretionary authority to place trades for you.
- We do not receive commission from brokers or product issuers. We are not paid to route you to any broker, fund, or instrument.
- We publish our record, including the losses. Our performance page and our writing are meant to be judged over time, not by the parts that flatter us.
7. What we do, and what we do not
Most of what Recompound publishes — the blog, the courses, and our research — is educational and general. It is not tailored to your circumstances, and it is not a recommendation to you personally, however specific it sounds.
Where a product is explicitly personalised — advisory clients, and paid reviews of the specific holdings you disclose to us — the advice is given by a licensed investment advisor, on the date it is given, and the terms for that product govern it.
In neither case do we offer:
- Portfolio management. We do not place trades or hold assets, and outside an ongoing client relationship we do not monitor your portfolio at all.
- A guarantee of any outcome. Investing carries risk, the value of your investments can fall as well as rise, and past performance does not indicate future results.
- Tax, legal, or accounting advice. Where those matter to a decision, take advice from someone qualified to give it.
Our general Terms of Service describe the wider Recompound service. Where an individual product has its own terms, those terms govern that product.
8. Your rights
- To receive this disclosure before you pay, not after.
- To ignore any client offer entirely. What you paid for is complete without it.
- To ask, at any point, whether we hold a position in anything we have discussed — and to get a straight answer.
- To decline being recorded before paying for a product that would be published, and pay nothing.
- To have your data handled as set out in our Privacy Policy, including any portfolio information you share with us.
9. Questions about this disclosure
If anything here is unclear, or you want a conflict spelled out further before you pay us anything, ask us first. We would rather answer than have you pay and feel misled.