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DriveWealth Launches New APIs For Investment Advisors

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DriveWealth, a broker dealer for retail investors, announced Wednesday its expanding its APIs in an effort to support investment advisors. 

The wealth management set of APIs will help advisors build portfolios for their clients. It will also allow them to use real-time fractional shares, so investors who want to risk less capital can take part in the markets.

The APIs are available to both U.S. investment advisors and their international customers, enabling them to interact with U.S. equities. They're also available for both traditional registered investment advisors as well as robo-advisors. 

“IA’s can streamline their workflow because our Wealth Management APIs seamlessly integrate real-time fractional share technology, allowing advisors to deploy one investment strategy across multiple accounts, regardless of a client’s investable assets," said Harry Temkin, Chief Information Officer at DriveWealth. "Advisors can choose to manage their clients’ accounts in a discretionary, non-discretionary, or blended environment to create weighted, customized portfolios.”

The APIs work by providing three levels of retail advisory service.The first level allows financial planners to make customized recommendations to their clients, who can execute the suggested trades on their own. The second level allows advisors to make initial recommendations to their clients supported by automatic portfolio rebalancing by the advisor. Finally, DriveWealth also supports advisors who choose to provide a fully discretionary solution to their clients.

DriveWealth has recently been active in the wealth management space. Earlier this summer they announced partnerships with two leading wealth management firms in China, Credit Ease and CaiGin International, and they also have agreements in place with several other RIA’s and wealth managers that will launch in the fall.  

Posted-In: Financial Advisors News Personal Finance

 

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