ST. LOUIS, Nov. 20, 2017 – SogoTrade, Inc.—a US-based online discount broker dealer known for its low commissions, great customer service, and high-tech trading platforms—is now offering long-term, goal-based asset management services to its customers through affiliate MarketRiders, Inc., a SEC registered investment advisor. MarketRiders will offer its advisory services under the name “Sogo MarketRiders.”
The Sogo Financial Group, Inc. (SFG), led by Jonathan W. Yao, current SogoTrade CEO and former Scottrade Director of Asian Pacific Operations, announced earlier this year that it concluded the acquisition of SogoTrade, Inc. SFG had also previously acquired MarketRiders, Inc., one of the very first robo-advisory firms. Together, SogoTrade and MarketRiders can now deliver stock and option trading accounts along with longer-term, goal-based managed portfolios.
MarketRiders CEO Kris Wallace, also a former Executive at Scottrade stated, “Now we have paired the innovative MarketRiders technology with the trading capability of SogoTrade, thus allowing ‘Sogo MarketRiders’ to offer the complete robo-advisory experience to our clients.” MarketRiders was formed in 2008 as the original Do-It-Yourself digital advisor and continues to lead the way in this space, Wallace said.
Sogo MarketRiders’ digital advisory services provide fully-managed portfolios and asset allocation services to our individual customers. Investors can now open both regular and IRA asset management accounts at SogoTrade through Sogo MarketRiders for the low fee of 0.75%. The typical investment advisory firm charges a 1%-2% fee for its services, and often those clients must also pay the trading commissions.
Sogo MarketRiders provides its clients with a human investment advisor, thus merging high-tech robo-advisor services with a trusted and experienced individual advisor many clients expect.