Wealthtech Week In Review: Betterment, Envestnet, MoneyLion, DriveWealth

• Betterment launched its own fee-free, high-yield savings account with one of the best rates on the market.
• Envestnet announces improvements to MoneyGuide’s MyBlocks.
• Moody’s Analytics won the award for Best Reporting System Provider in the 2019 Waters Rankings.
• MoneyLion announced $160 million in funding.
• FlexTrade Systems’ solution FlexTRADER EMS has been certified for integration with thinkFolio.
• DriveWealth partners Vested Finance to give Indian retail investors digital access to the US equity markets.
• Swell shuts down its retail impact investing platform.

Betterment, the online investing platform and virtual financial advisor, debuted a high-yield savings account, rivaling those of its online competitors. Betterment's fee-free, high-yield savings account has one of the best rates on the market: 2.69%.

Moody’s Analytics, a global provider of financial intelligence, has won the award for Best Reporting System Provider in the 2019 Waters Rankings. They earned this recognition for their regulatory reporting solution.

Broker-neutral technology firm FlexTrade Systems announced that its solution FlexTRADER EMS has been certified for integration with thinkFolio, the investment management platform provided by IHS Markit.

The certification means thinkFolio clients can access FlexTRADER’s functionality, which offers a customizable execution management system (EMS) with pre-defined trading strategies and tactics for portfolio and single-stock trading across all asset classes.

DriveWealth has joined forces with Vested Finance to give Indian retail investors digital access to the U.S. equity markets, reports Jane Connolly.

With its patent-pending real-time fractional-share trading capabilities, DriveWealth aims to make the U.S. stock market available to investors everywhere at an affordable cost.

Retail impact investing platform Swell says it was “not able to achieve the scale needed to sustain operations in the current market,” and is ceasing operations Aug. 30.

Customer acquisition has been a challenge for new entrants in retail impact investing, despite market demand for accessible sustainable investing options.

Envestnet announces improvements to MoneyGuide’s MyBlocks. Advisors interested in using MyBlocks to attract prospective clients can send custom links via email and social media or include the link of their website, which will direct potential leads to the first portion of the a la carte financial planning application.