Betterment launched its own fee-free, high-yield savings account with one of the best rates on the market. Envestnet announces improvements to MoneyGuide’s MyBlocks. Moody’s Analytics won the award for Best Reporting System Provider in the 2019 Waters Rankings. MoneyLion announced $160 million in funding. FlexTrade Systems’ solution FlexTRADER EMS has been certified for integration with thinkFolio. DriveWealth partners Vested Finance to give Indian retail investors digital access to the US equity markets. Betterment and Wealthfront revive rivalry with high-yield cash accounts. Swell shuts down its retail impact investing platform.
Betterment the online investing platform and virtual financial adviser Betterment debuted a high-yield savings account, rivaling those of its online competitors. Betterment just launched its own fee-free, high-yield savings account with one of the best rates on the market: 2.69%.
Find details here.
Moody’s Analytics, a global provider of financial intelligence, has won the award for Best Reporting System Provider in the 2019 Waters Rankings. They earned this recognition for their regulatory reporting solution.
Find details here.
Broker-neutral technology firm FlexTrade Systems announced that its solution FlexTRADER EMS has been certified for integration with thinkFolio, the investment management platform provided by IHS Markit.
The certification means thinkFolio clients can access FlexTRADER’s functionality which offers a customizable execution management system (EMS) with pre-defined trading strategies and tactics for portfolio and single stock trading across all asset classes.
Find details here.
DriveWealth has joined forces with Vested Finance to give Indian retail investors digital access to the US equity markets, reports Jane Connolly.
With its patent-pending real-time fractional share trading capabilities, DriveWealth aims to make the US stock market available to investors everywhere at an affordable cost.
Find details here.
Retail impact investing platform Swell says it was “not able to achieve the scale needed to sustain operations in the current market,” and is ceasing operations Aug. 30.
Customer acquisition has been a challenge for new entrants in retail impact investing, despite market demand for accessible sustainable investing options.
Find details here.
Envestnet announces improvements to MoneyGuide’s MyBlocks.
Advisors interested in using MyBlocks to attract prospective clients can send custom links via email and social media, or include the link of their website, which will direct potential leads to the first portion of the a la carte financial planning application.
Find details here.
Financial services company MoneyLion announced $160 million in funding, a combination of $60 million in previously unannounced funding and a $100 million Series C round, according to a company announcement. The round was co-led by Edison Partners and Greenspring Associates, with Capital One and MetaBank also making an investment.
Find details here.
Research
Betterment and Wealthfront revive rivalry with high-yield cash accounts.
The robo advice industry’s old school rivalry is back. The push for bigger client wallet share among digital advice players has seen almost every brand bolt on checking and savings accounts in the last few months.
Find details here.
