[ by Melanie Gretchen ] A new online broker-dealer, based in San Mateo, CA, has caught the eye of Wall Street. The firm, which opened its doors last week, allows investors to buy a bucket of stocks centered on a theme, like cloud computing or income inequality - something it calls "an online evolution of investment clubs." Motif Investing certainly looks like a force to be reckoned with, and has "come out of the gates in a gallop."  For starters, take a look at its prominent line-up of Wall Street supporters.  Sallie Krawcheck, who led Bank of America’s wealth management division until a management shake-up in September, is on its Board of Directors.  Arthur Levitt Jr., former SEC chairman, and Jerry Gramaglia, former E*Trade President and COO, both serve as advisers to the company.

"One challenge for investors is that many would like to invest in themes or in concepts that they believe in, but it can be a real challenge to do so.  Motif offers an interesting blend of new technologies to solve this and empower people to invest behind ideas." -- Sallie Krawcheck.

The Business. The start-up, whose venture capital backers include Norwest Venture Partners, Foundation Capital, and Ignition Partners, raised $20 million last summer, following a $6 million financing round in the fall of 2010. After a testing phase, that's run since January, the company will charge a flat fee of $9.95 for a so-called motif, a portfolio of up to 30 stocks based on themes like "seven deadly sins" - which includes tobacco, liquor, and gambling stocks.  Users can buy a prepackaged portfolio or create their own. Mr. Levitt, who also currently works as an adviser for Goldman Sachs and the Carlyle Group, said the platform provides investors with a way for investors to diversify their holdings.  "The principal problem with retail investing is investors picking their own securities rather than going for low-cost funds or portfolios such as this." The Community. Motif also offers a social aspect, allowing investors to share portfolio ideas with "circles" of friends on the site.  One of the themed portfolios, "lots of likes," seeks to mine the collective wisdom of social media users by including a group of companies that have the most "likes" on Facebook. Motif Co-Founder and CEO Hardeep Walia, had this to say:  "We want to empower people to take ideas in their daily life that are hitting them, and put them to work." Mr. Walia once oversaw investments and acquisitions for Microsoft.