Ally Launches Ally Invest, Delivering the Best of Both Worlds with Investment Services Alongside Banking in a Single, Integrated Customer Experience
Bank Integrates and Rebrands TradeKing Brokerage and Advisory, Bringing Low-Cost Investing Together with High-Yield Savings
May 12, 2017
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MIDVALE, Utah, May 12, 2017 -- Ally Financial Inc. (NYSE: ALLY) today announced the launch of Ally Invest, its brokerage and wealth management offering that now exists alongside its award-winning online banking products in a single, convenient customer experience. The combination of Ally's competitive deposit products together with low-cost investing gives customers a powerful new value proposition for managing their financial well-being.
Ally's entry into the brokerage and wealth management space was accelerated through the acquisition of TradeKing in June 2016. The launch of Ally Invest represents further progress in the company's mission to offer customers more choices in managing their financial lives through an exceptional, digitally-oriented experience at a compelling value. With the integration of Ally Invest, customers can access the brokerage and advisory products using the same user-friendly web and mobile platforms as Ally's deposit and credit card products.
"On the heels of our Ally Cash Back Credit Card and competitive Ally Home loan products, Ally Invest is a continuation of our commitment to 'Do It Right' by our customers by providing more options to make their money work harder," said Diane Morais, president of Consumer & Commercial Banking Products at Ally Bank. "The convenience of these value-driven digital offerings all in one place presents the best possible alternative for busy consumers looking for simple, straightforward solutions to their financial needs."
The Ally Invest offerings consist of a low-cost trading platform for self-directed investors, as well as a suite of affordable, automatically managed investment portfolios, both delivered through a fully-transparent online process. With Ally Invest, customers can:
- Access all of their online banking, brokerage and wealth management accounts via ally.com
- Leverage a robust streaming and fully-customizable trading platform with research and trading tools for equities and options traders of all experience levels
- Quickly and easily open and fund managed investment portfolios online based on their specified investment goals
- Receive 24/7 customer support
- Enjoy upgraded brokerage and wealth management mobile apps with biometrics and enhancements for iOS and Android™ tablets
- Transfer their money between their various Ally accounts
Click here to preview a video of the new integrated platform.
Investing for Premium Value
Customers of Ally Invest will enjoy one of the industry's most competitive flat per trade price offerings at $4.95 per trade and $0.65 per options contract with no minimums or hidden fees. Active investors who place 30 or more trades per quarter or carry a balance of $100,000 or more will pay just $3.95 per equity trade and $0.50 per options contract. Ally Invest Advisors' array of managed portfolios are available to new customers at a .30% annual fee with an account minimum of $2,500, with no commissions or transaction fees.
"Ten years ago, TradeKing set the standard for low, fair pricing in online brokerage, a standard some brokerages are just coming around to today," said Rich Hagen, the former president of TradeKing and now president of Brokerage & Wealth Management at Ally. "Now Ally aims to set a new standard by combining low-cost investing alongside great savings rates and other highly competitive financial offerings, and deliver this powerful set of financial services through an extraordinarily simple and convenient customer experience. We believe customer experience will be a clear differentiator for us in our space moving forward."
About Ally Financial Inc.
Ally Financial Inc. (NYSE: ALLY) is a leading digital financial services company and a top 25 U.S. financial holding company offering financial products for consumers, businesses, automotive dealers and corporate clients. Ally's legacy dates back to 1919, and the company was redesigned in 2009 with a distinctive brand, innovative approach and relentless focus on its customers. Ally has an award-winning online bank (Ally Bank Member FDIC), one of the largest full service auto finance operations in the country, a complementary auto-focused insurance business, a growing wealth management and online brokerage platform, and a trusted corporate finance business offering capital for equity sponsors and middle-market companies.
The company had approximately $162.1 billion in assets as of Mar. 31, 2017. For more information, visit the Ally press room at http://media.ally.com or follow Ally on Twitter: @AllyFinancial.
Securities products and services are offered through Ally Invest Securities LLC, member FINRA and SIPC. Investment advisory services are offered through Ally Invest Advisors Inc., an SEC registered investment adviser. Ally Invest Advisors Inc. and Ally Invest Securities LLC are wholly owned subsidiaries of Ally Invest Group Inc. Investments are NOT FDIC INSURED, NOT BANK GUARANTEED and MAY LOSE VALUE.
Deposit products are offered by Ally Bank, Member FDIC. In addition, mortgage products are offered by Ally Bank, Equal Housing Lender, NMLS ID 181005. Credit and collateral are subject to approval and additional terms and conditions apply. Programs, rates and terms and conditions are subject to change at any time without notice.
The Ally CashBack Credit Card is issued by TD Bank, N.A.
Ally Invest Group Inc. and Ally Bank are wholly owned subsidiaries of Ally Financial, Inc.
Andrea Puchalsky, Ally Financial Inc.
Sue Parente, Tier One Partners