Access Softek, Inc., an omnichannel digital banking platform provider, announced that ELGA Credit Union will now offer its EasyVest robo-advisor in order to make investing easier for the more than 76,000 members the credit union serves.
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.@ELGAcu chooses @AccessSoftek’s EasyVest #roboadvisor
EasyVest was developed to give financial institutions a technology solution that simplifies investing and makes it more widely available to the average member, as the minimum to get started can be as low as $200.
With the increasing level of competition in the wealth management space, EasyVest is the first and only robo-advisor that seamlessly integrates with online and mobile banking. This not only helps credit unions enhance their wealth management programs, but also allows them to compete with third-party investment apps.
Using a series of questions, EasyVest assesses the member’s timeframe, risk appetite, income and investment goals then suggests the optimal investment portfolio for them. Members have the options of investing in individual or retirement accounts, purchasing fractional shares and automatically rebalancing their portfolio. EasyVest features low-cost, broad index ETF portfolios as well as ESG options and IRAs.
With the intuitive nature of the platform, members can start off small and easily transfer funds from other accounts as they grow their investments. Members can even set up recurring transfers directly from their deposit accounts. This direct integration with digital banking allows members to set up their investment funds and let the technology do the hard work for them.
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“We have worked with Access Softek since 2015 and they have quickly grown to be a trusted partner of ours,” said Karen Church, CEO of ELGA. “When we sought to update our wealth management strategy, we knew their robo-advisor technology would be the best fit. It works seamlessly with our online and mobile banking, making the member’s investing experience simple and secure.”
While EasyVest helps ELGA compete with outside wealth management providers, it simultaneously complements the credit union’s existing wealth management program. EasyVest makes investing more widely available to members and allows them to easily grow their wealth. Once their assets reach a certain size, members are prompted to form a relationship with the credit union’s wealth management advisor.
“Traditional wealth management programs typically serve two percent of members. EasyVest provides this valuable service to the other 98 percent,” said Chris Doner, founder and CEO of Access Softek. “Offering a robo-advisor is essential to any financial institution that wants to survive and thrive during the coming wealth transfer, as this solution helps them be not only full-service, but competitive in the market.”
