Overstock.com, Inc. (NASDAQ:OSTK) has introduced a digitally-driven investment platform (aka robo-advising), presented by tZERO Advisors. The service is accessible to investors through the online retailer’s FinanceHub™. For a monthly fee of $9.95, investors can either select from a group of pre-established Adaptive Dynamic Portfolios matched to their investment profiles, or create a customized blend of these portfolios.
“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,” shared Overstock founder and CEO Patrick M. Byrne. “Overstock currently delivers world-class service and award-winning customer experiences to as many as 40 million unique visitors per month. 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.”
tZERO Advisors is powered by FusionIQ’s B2C investment platform. FusionIQ, a fintech company that provides investment solutions that enable online investing, will utilize its proprietary algorithms and scoring system to develop and rebalance tZERO’s Adaptive Dynamic Portfolios based upon dynamic market factors. In addition to robo-advising, Overstock’s FinanceHub™ offers a one-stop source for brokerage and advising products, lending products, credit card products, and insurance products presented by various financial institutions.