"Our competition is not the banks, but educating the borrower that these choices are available," Prosper president Ron Suber said in a phone interview. He recommends investing no more than 10% of a person's net worth in the asset class and diversifying across loan portfolios. Niche players are already appearing: SoFi specializes in P2P student loans while OnDeck targets the business loan market. Daric and Peerform are challengers to Lending Club (which has around 70% of the market) and Prosper, which holds most of the remaining share. Peerform chairman Gregg Schoenberg describes the asset class as a toddler and says a secondary market will mark the next stage in its development. "Baby boomers are looking for cash flow streams that offer a measure of diversity -- it's not a good retirement plan to put all your money into utility stocks," he said in a phone interview.