This summer, Best of Show winner DriveWealth announced a partnership with Chinese marketplace lender and wealth manager CreditEase to bring roboadvisory to China. Today we learn the innovative broker-dealer has made a deal with Silicon Valley-based Alkanza to bring similar services to Latin America.
DriveWealth founder and CEO Robert Cortright credited his company’s platform for helping bring access to U.S. equities to “investors everywhere, at every income level.” Cortright said, “Our partnership with Alkanza makes it possible for investors in Latin America not only to gain access to the U.S. stock market, but also have their portfolios be managed by experienced professionals for an affordable cost.”
DriveWealth Chief Information Officer Harry Temkin demonstrated Real Time Fractional Trading with Passport 2.0 at FinovateEurope 2016.
This combination of access and advisory is what Andrés Villaquiran, founder and CEO of Alkanza, praised in his firm’s new partnership with DriveWealth. “By marrying our premium investment advisory programs with DriveWealth’s low-cost access to U.S. securities,” Villaquiran said, “our Latin American clients can now add a unique investment option to their investment plans.” Alkanza will use DriveWealth’s wealth management APIs, which were launched earlier this year. Advisers will be able to offer their clients varying levels of support: non-discretionary, blended, and fully discretionary—the latter level giving Alkanza full management, trading, and rebalancing of client portfolios. Alkanza will first offer the new services in Argentina and Chile.
DriveWealth demonstrated its Real Time Fractional Trading with Passport 2.0 at FinovateEurope 2016, winning Best of Show. In August, the company added real-time margin to its platform. DriveWealth was founded in 2012 and is headquartered in Chatham, New Jersey. The company will be making its FinDEVr debut next week at FinDEVr Silicon Valley. For more information, visit our FinDEVr page. To pick up your ticket and save your spot, visit our registration page.