DriveWealth and OneVest have announced a strategic partnership to provide next-generation wealth management solutions.
The integration brings OneVest’s wealth management platform onto DriveWealth’s investing ecosystem, allowing enterprises to access a fully configurable, white-labeled solution for modern wealth management.
The partnership enables broker-dealers, RIAs, and international wealth advisory firms using DriveWealth to integrate onboarding, account opening, advisor and client experiences, portfolio management, and analytics through OneVest’s platform. DriveWealth’s advanced APIs facilitate investing and trading workflows, from account setup to market trading and tax statement generation.
DriveWealth clients can leverage OneVest’s wealth management solution
Amar Ahluwalia, CEO at OneVest, said: “Our mission at OneVest has always been to Power the World’s Wealth through innovative technology. By partnering with DriveWealth, we’re enabling enterprises to deliver unparalleled experiences to their clients, meeting the ever-changing demands of today’s investors.”
Michael Blaugrund, CEO at DriveWealth, added: “At DriveWealth, we are committed to using technology to broaden access to the wealth-creating potential of markets. This collaboration with OneVest will empower our partners with wealth advisory tools to thrive in a market landscape that continues to change for both established and newer participants.”
The companies state that the collaboration will allow financial institutions to scale and adapt as investor expectations evolve. The combination of DriveWealth’s expertise in securities trading, clearing, and custody, along with OneVest’s leadership in wealth management technology, provides enterprises with a turnkey solution to meet client needs.
DriveWealth expanded fixed income offering via Moment
DriveWealth recently announced a significant expansion of its fixed-income asset offerings in collaboration with Moment Technology Inc. to provide retail investors with greater access to the bond market by eliminating the high investment thresholds that have traditionally limited participation.
The company’s API suite accelerates onboarding for partners, allowing them to roll out bond investment capabilities quickly and efficiently.
With this collaboration, DriveWealth consolidates bond liquidity sources, addressing the fragmented nature of fixed-income markets. The service is live with BTG Pactual US Capital LLC, an affiliate of Banco BTG Pactual, marking DriveWealth’s first fully integrated solution across equities, fixed income, and international mutual funds.
DriveWealth secured a brokerage license in Europe
Last year, DriveWealth was granted a brokerage license in Europe by the Bank of Lithuania, the central bank of the Republic of Lithuania. The authorization will allow the fintech platform to provide Brokerage-as-a-Service across the European Union as part of its international expansion plans. The milestone marks DriveWealth’s third region with regulatory status, including the United States, Singapore, and now the European Economic Area.
Founded in 2012, DriveWealth’s technology platform allows established companies and emerging digital-native firms to provide securities trading to their clients efficiently and in a compliant fashion. The brokerage license granted by the Bank of Lithuania will enable the company to support a further range of clients and open up more opportunities within its European audience. DriveWealth powers 24-hour trading and fractional share ownership for a community of global B2B partners.
According to the firm, DriveWealth aims to expand its platform to offer European securities as well as provide a “follow-the-sun” 24/7 service model continuously across time zones. The new entity in Lithuania, named DriveWealth Europe, will be an integral component of DriveWealth’s international operations and European expansion. With this latest license, DriveWealth aims to expand its offerings by introducing additional market-specific products in the future.
