Why is Colorado Wealth Management Fund Writing on Substack Instead of Seeking Alpha?

My decision to publish here was driven by a few factors:

  1. Articles getting sent back asking for me to change a title or remove some content. In some cases, articles were outright rejected.

  2. Changes to the way my articles are tagged to reduce my visibility on the site. Seeking Alpha got tired of being Seeking Colorado, so rules were changed to specifically reduce the visibility of my articles.

  3. Changes to policies prohibited me from discussing or linking our service, even when it was highly relevant. Can you imagine rewriting articles to specifically remove references to your prior work? This includes references to our work on The REIT Forum through Seeking Alpha, where Seeking Alpha was taking a commission.

  4. Commissions for new members were increased dramatically. If a new member joins our service without taking one of my referral links, we get a minority of the revenue. Guess which links we can’t share in our articles or comments?

  5. Authors have no direct communication with their customer base. Everything has to go through Seeking Alpha’s servers, where censorship can be applied. Since we are severely limited in sharing referral links there, it ensures that the majority of new customers are added with 75% going to Seeking Alpha

For transparency around my decision, I’m showing you behind the curtain.

Here are the commission rates on Substack:

  • All members: 3.5% processing fee. 10% commission.

Here are the commission rates paid to Seeking Alpha:

  • Old members (grandfathered in): No processing fee. 25% commission

  • New members with referral code: 3% processing fee. 10% commission.

  • New members without referral code: 3% processing fee. 75% commission.

Meanwhile, that customer will be regularly sent advertisements for other Seeking Alpha services.

If the member is locked in at 3% + 10%, there is a strong incentive for Seeking Alpha to convince the customer to leave my service in favor of another service where they would get 3% + 75%.

That’s a huge conflict of interest and it is demonstrated by customers being hit with advertising for other services.

I considered eliminating the ability for new members to sign up through Seeking Alpha. In hindsight, I probably should’ve done that.

Referral Links and Special Discount Offers

Our full service is available on Substack and on Seeking Alpha. I quote prices using the annual rates because most of our members sign up annually.

Substack: $599.99/year.

Special link: 30-day free trial to The REIT Forum on me. Your renewal rate never goes up. $599.99 every year.

Special link 2: 10% off for the first year on substack, which makes it $539.99 for the first year and $599.99 thereafter.

Seeking Alpha: $679/year.

Special link: 10% off for the first year on Seeking Alpha which makes it $611.10 for the first year and $679 thereafter. This is a referral link, so it drops my costs down to 3% + 10%.

If you’re part of our service on Seeking Alpha, you can contact me to get complimentary access to our Substack page.

What if you want to switch to Substack, but you have a very old membership that is grandfathered in at a lower rate? You can keep the grandfathered rate. Just let us know we’ll get it arranged for you.

Free Articles

If you enjoy our work, please start by subscribing to the free service.

Seeking Alpha

If you are interested in signing up for any author on Seeking Alpha, contact that individual author first and ask them for a referral link.


You get the same articles. Since Seeking Alpha uses a “chat” service, there are some articles we publish here that would’ve only been available in the “chat” service.

Overall, I think that makes it easier for members to monitor the announcements here.


If you join through Substack:

You’re able to e-mail me directly. My average reaction time is much faster.

If you refer friends (use the “share” button on our website in the articles we send out), you get free time added to your premium subscription. This happens automatically and it can only be done for Substack memberships.

The entire article shows up in your inbox, which most readers find extremely convenient.

There is no censorship of our content here. 

We handle customer service directly, rather than having it flow through Seeking Alpha. Faster responses and more favorable policies.

Thank You

It was a very difficult adjustment to establish ourselves on a second platform. Your support is critical to our success. I greatly appreciate every member who chooses to sign up for our service here.

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Seeking Alpha's best REIT author. Colorado Wealth Management Fund dominated Seeking Alpha rankings for a decade. Join Colorado Wealth Management Fund on Substack for free REIT analysis from The REIT Forum.