US robo advisor eyes Asia

Marketriders, a US robo advisor recently acquired by broker Sogotrade, has its sights on the China market, though strict capital controls are an obstacle, said Sogotrade CEO Jonathan Yao.

Yao

Sogotrade is a St. Louis-based online broker that provides service in both Chinese and English. About 15% of clients are from Asia, including China, Hong Kong, Taiwan, Singapore, as well as Australia, he told FSA.
The brokerage recently introduced Marketriders, a robo advisory service, that open for foreign investors. The Marketriders portfolio is fully automated and can construct at least 18 various portfolios according to risk profiles and user preferences.
The portfolios contain roughly 8-12 ETFs listed in the US across stocks, bonds, REITs and commodities. A yearly fee between 0.25-0.45% is charged based on size of investments, with minimum threshold of $1,000. The portfolio is rebalanced as significant market changes occur, he added. Continue reading “US robo advisor eyes Asia”

Former Scottrade Execs Announce Acquisition of MarketRiders — The Original Robo-Advisor

Customers Will Enjoy Newly Enhanced Managed Portfolio Robo-Advisor Services

ST. LOUIS, MO–(Marketwired – Mar 1, 2017) – Former Scottrade executives Jonathan Yao and Kristopher Wallace today announced the acquisition of MarketRiders, the first robo-advisor. Since its inception in 2008, MarketRiders, the pioneering force behind the robo-advisory space, has helped over 15,000 investors (representing $5 billion in assets) create and manage their own investment portfolios. MarketRiders was acquired through its parent company — Sogo Financial Group, Inc. — which also owns leading discount broker SogoTrade.
Continue reading “Former Scottrade Execs Announce Acquisition of MarketRiders — The Original Robo-Advisor”

SogoTrade Ranks “Best in Class for Commissions and Fees” For The Second Year In A Row By StockBrokers.com

ST. LOUIS, Feb. 28, 2017 /PRNewswire/ — SogoTrade received a ranking of “Best in Class” among the top online stock brokers for low cost commissions and fees, and a remarkable 4 stars for both customer service and options trading in the 2017 Online Broker Review by StockBrokers.com.

“SogoTrade is honored to rank among the best brokers for low-cost commissions and fees,” said Jonathan Yao, CEO at SogoTrade. “We strive to offer the lowest stock trade commissions in the industry.”

Continue reading “SogoTrade Ranks “Best in Class for Commissions and Fees” For The Second Year In A Row By StockBrokers.com”

SogoTrade Lowers Commission To $3 For New Customers

ST. LOUIS, Feb. 7, 2017 /PRNewswire/ — Starting February 1, 2017, SogoTrade began offering $3 trades for one full year to any new customers opening an account with $10,000 or more.

With TD Ameritrade about to acquire Scottrade, SogoTrade will become the lone discount online brokerage firm in St. Louis, Missouri. With the ongoing mergers and acquisitions within the online brokerage industry, SogoTrade is making waves to reel in new customers.

“In the past year and a half, SogoTrade has been evolving our brand image,” said Jonathan Yao, CEO at SogoTrade. “Our recently redesigned website – which is easy to navigate and modern in appearance – reflects who we are as a financial services company. Now, we are reducing our already low commissions rates for a limited time to encourage online investors who haven’t yet tried SogoTrade to give us a try. This promotion is quite bold for SogoTrade, but it reflects our commitment to investors and to the future of our company. We plan to be around for a very long time.”

Continue reading “SogoTrade Lowers Commission To $3 For New Customers”