Ally Invest added 115 commission-free exchange-traded funds to its online trading platform.
This is the first offering of commission-free ETFs from Ally Invest, which is the brokerage and wealth management offering of Ally Financial. Ally Invest has a low-cost trading platform for self-directed investors, as well as a suite of automatically managed investment portfolios, both delivered online.
“We’re proud to introduce commission-free ETFs from some of the industry’s most innovative and admired providers and give our customers even more choice when it comes to their investing preferences,” said David Dusseault, executive director of Ally Invest, in a statement.
A little more than 30 of the commission-free ETFs that Ally Invest is offering are iShares ETFs from BlackRock, including ones focused specifically on the environmental, social and governance sector. Common themes for these socially responsible funds include investments in companies engaged in social justice, environmental sustainability and alternative energy/clean technology efforts.
The rest of the commission-free ETFs offered on the platform are WisdomTree ETFs. WisdomTree offers a full range of ETFs covering domestic, international and global equities, fixed income, currencies, commodities and alternative strategies, as well as “smart beta” and active ETFs.
According to Kurt MacAlpine, WisdomTree executive vice president and global head of distribution, Ally and WisdomTree share a similar philosophy of using innovation to deliver value for investors.
“Particularly in today’s investing climate, we believe investors shouldn’t have to choose between cost efficiency and performance potential,” MacAlpine said in a statement.
According to MacAlpine, WisdomTree’s quantitative active strategies — or “Modern Alpha” as the ETF and ETP sponsor and asset manager calls its active strategies — “combine the outperformance potential of active management with the structural benefits of ETFs to offer investors products that are built for performance.”
While the funds are available immediately from Ally Invest, the firm also plans to offer customers free educational offerings to equip them to trade ETFs more knowledgeably and strategically in the coming months.
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