While talk persists about Amazon, Google or Apple entering the investment business as asset managers or providers of financial advice, one household retailer has made the move.
Overstock.com this week announced the launch of a digital investment platform powered by tZERO Advisors, within its FinanceHub.
“This service introduces robo-advising investment management services to our millions of customers and continues Overstock’s commitment to bridging Wall Street and e-commerce,” said Patrick M. Byrne, Overstock’s founder and CEO, in a press release.
“They trust us with their home and, more recently, auto purchases,” continued Byrne. “We are excited about this new program that offers our customers the opportunity to bring artificial intelligence to their financial planning.”
Investors can choose from group of tZERO Advisors’ Adaptive Dynamic Portfolios (ADPs) based on their investment profile, or they can create a customized blend of the portfolios for a cost of $9.95 a month. If they sign up before the end of the month the first month is free.