DriveWealth Launches DriveHSA Health Savings Account Division

DriveWealth, a digital brokerage solution for broker-dealers, advisors and online platforms, is launching DriveHSA, a health savings account division aimed at helping HSA providers improve their product portfolio, as well as giving end users the ability to trade U.S. equities, ETFs, mutual funds and ADRs fractionally.

“We view health care as such a critical component of a person’s financial planning, particularly as they age,” DriveWealth CEO Robert Cortright said in a Wednesday statement.

“In conjunction with all the benefits and incentives that an HSA program provides, we have focused on providing a solution that delivers diversified investment choices in a cost-efficient, user-friendly manner customizable to the individual’s financial situation.”

Fractional share trading capabilities will allow HSA account holders the ability to invest in balanced, diversified portfolios in a more capital efficient manner, according to the digital brokerage. 

“Our full brokerage infrastructure offers HSA platform providers throughout the U.S. a complete solution, delivered via a modern suite of APIs, to bring an engaging HSA investing experience to end-users,” DriveHSA managing director Stan Smith said in a statement.

“DriveHSA offers HSA providers that already have an investment component the opportunity to significantly enhance their product, with far broader investment selections, superior back-office efficiencies, simplified pricing, and a robust advisory toolset.”

To learn more about the DriveHSA program, visit drivewealth.com.