Ally Invest
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| Ally Invest | |
|---|---|
| Name | Ally Invest |
| Type | Subsidiary |
| Industry | Financial services |
| Founded | 2005 |
| Founder | Mark Schwartz |
| Headquarters | Detroit, Michigan |
| Parent | Ally Financial |
Ally Invest is a subsidiary of Ally Financial, a leading digital financial services company, and was founded in 2005 by Mark Schwartz. Ally Invest provides a range of financial services, including online trading, investment products, and retirement accounts, to its customers. The company is headquartered in Detroit, Michigan, and is a member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC). Ally Invest is also affiliated with Ally Bank, a leading online bank that offers a range of banking products and services, including checking accounts, savings accounts, and certificates of deposit (CDs).
● History
Ally Invest was founded in 2005 as TradeKing, a discount brokerage firm that offered online trading services to its customers. In 2016, Ally Financial acquired TradeKing and rebranded it as Ally Invest. The company has since expanded its range of products and services to include investment products, retirement accounts, and cash management services. Ally Invest has also partnered with Morningstar, a leading investment research firm, to provide its customers with investment research and portfolio management tools. The company has received numerous awards and recognition, including being named one of the best online brokers by Barron's and Kiplinger's Personal Finance.
● Products and Services
Ally Invest offers a range of products and services, including online trading in stocks, options, exchange-traded funds (ETFs), and mutual funds. The company also offers investment products, such as individual retirement accounts (IRAs) and 401(k) plans, as well as cash management services, including checking accounts and savings accounts. Ally Invest customers can also access investment research and portfolio management tools from Morningstar and CFRA, a leading investment research firm. Additionally, the company offers robo-advisory services, which provide automated investment management and portfolio rebalancing. Ally Invest has partnered with Yodlee, a leading financial data provider, to offer its customers account aggregation and financial planning tools.
● Features and Benefits
Ally Invest offers a range of features and benefits to its customers, including low commissions on online trades, no minimum balance requirements for cash accounts, and no maintenance fees for investment accounts. The company also offers mobile trading apps for iOS and Android devices, which allow customers to trade and manage their accounts on the go. Ally Invest customers can also access investment education resources, including webinars, tutorials, and online courses, to help them improve their investment knowledge and trading skills. The company has also partnered with The Financial Diet, a leading personal finance website, to provide its customers with personal finance education and budgeting tools.
● Security and Regulation
Ally Invest is a member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC), which provides insurance coverage for its customers' investment accounts. The company is also regulated by the Securities and Exchange Commission (SEC) and is subject to regular audits and examinations to ensure its compliance with federal securities laws and regulations. Ally Invest uses advanced encryption and firewall technology to protect its customers' personal and financial information and has implemented strict security protocols to prevent unauthorized access to its systems. The company has also partnered with Symantec, a leading cybersecurity firm, to provide its customers with cybersecurity protection and identity theft prevention tools.
● Fees and Pricing
Ally Invest offers competitive fees and pricing for its products and services, including low commissions on online trades and no maintenance fees for investment accounts. The company also offers discounted commissions for active traders and volume discounts for large trades. Ally Invest customers can also access free research and analysis tools from Morningstar and CFRA, which can help them make more informed investment decisions. The company has also partnered with Quandl, a leading financial data provider, to offer its customers free access to historical stock prices and financial data.
● Account Types
Ally Invest offers a range of account types to its customers, including individual brokerage accounts, joint accounts, IRA accounts, and 401(k) plans. The company also offers custodial accounts for minors and trust accounts for estates and trusts. Ally Invest customers can also access margin accounts, which allow them to borrow money to buy securities, and options accounts, which allow them to trade options on stocks and ETFs. The company has partnered with National Financial Services, a leading custodian and clearing firm, to provide its customers with secure and reliable account management services. Ally Invest has also partnered with Fidelity Investments, a leading investment management firm, to offer its customers access to institutional-quality investment products and services.