June 6, 2016: DriveWealth, LLC (“DriveWealth”) is pleased to announce its partnership with CreditEase, the largest marketplace lender and wealth manager in China, to launch ToumiRA. ToumiRA is a new Robo-Advisory product available to Chinese Investors.
DriveWealth is the fastest growing B2B2C brokerage in China (based on B2B partner customer reach) that partners with innovative companies around the world to offer international investors unprecedented access to the US equities market. Through their current universe of partners, DriveWealth has access to hundreds of millions of potential investors and will act as the US broker partner for CreditEase’s ToumiRA product.
Through its partnership with DriveWealth, CreditEase is able to provide Chinese investors with globally diversified managed portfolios. ToumiRA incorporates US equities powered by DriveWealth into its streamlined global asset allocation strategy to make building a diversified global portfolio easy and hassle-free. ToumiRA’s trading algorithm utilizes the Modern Portfolio Theory along with individual investors’ objectives, risk tolerances, and goals to recommend the optimal portfolio.
“Our goal is to offer investors the optimal asset allocation for their individual needs. Our partnership with DriveWealth allows us to further customize our asset allocation advice by giving customers access to US equities so that they can minimize their risk by owning a diversified portfolio,” said Frank Wang, CIO of ToumiRA.
“DriveWealth is thrilled to partner with a trusted Chinese wealth manager like CreditEase. We believe that everyone should have the ability to own a globally diversified portfolio that suits their needs and the ToumiRA product allows Chinese Investors to do just that in a simple and intuitive environment,” said Robert Cortright, founder and CEO of DriveWealth.
CreditEase’s ToumiRA product is ushering in a new era of investing in China; as previously only the very wealthy in China had access to managed portfolios. ToumiRA will level the playing field and allow everyone an opportunity to own a portfolio that meets their financial needs.
DriveWealth, LLC, member FINRA and SIPC, is a mobile and global full-carrying broker-dealer for retail investors and provides a low cost, easy-to-use US equities investing platform to individuals worldwide. DriveWealth also partners with businesses around the world to offer its Brokerage as a Service platform, which allows global financial institutions to give their clients access to US listed securities.
CreditEase is a leading FinTech company in China, specializing in small business and consumer lending as well as wealth management for high net worth and mass affluent investors. It is a Standing Committee member of China’s Internet Finance Industry Association and Chairman of Beijing Marketplace Lending Association. Its majority owned subsidiary Yirendai YRD, an online consumer finance marketplace, is listed on the New York Stock Exchange.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Your update on what’s going on in the Fintech space. Keep up-to-date with news, valuations, mergers, funding, and events. Sign up today!