DriveWealth expands APIs to support investment advisors

DriveWealth, a New Jersey startup providing retail investors and ordinary consumers with access to the US stock market, is expanding its APIs to cater to investment advisors.

The new suite of APIs is available to US-based investment advisors and their international clients. It will provide three levels of service.

These are the ability for advisors to make recommendations to clients, make initial recommendations that are supported by automatic portfolio rebalancing and support for advisors who choose to provide a fully discretionary solution to their clients.

“Investment advisors 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, CIO at DriveWealth.

“Advisors can choose to manage their clients’ accounts in a discretionary, non-discretionary, or blended environment to create weighted, customized portfolios.”

The company’s raised $8.4m to date, most recently a $4.4m Series A round in April last year.

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