No More Wires or ACH
Watch this video to see how funding an account is as simple as a few clicks with Onramp Invest.
The other day we saw a tweet from our friend and financial advisor, Michael Policar, who said this about a certain custodian (check out the replies).
Wait, you can’t ACAT out of Betterment, but you can ACAT in?
— Michael Policar (@MikePolicarNGP) January 26, 2022
After talking as a group, we remembered Zach Ashburn CFP®, EA, had something similar to say several months prior. It’s clear that ACH functions can be used against investors to make it difficult for them to move their hard-earned wealth around.
You can ACH in but you can’t ACH out. pic.twitter.com/x1Kxg2EiNg — Zach Ashburn CFP®, EA (@zachary_ashburn) August 5, 2021
Or how about this one from Michael Baker, CFP®, the black belt who poignantly stated what the future of money movement looks like. In an on-demand world of streaming services, google searches, and video calls, most folks have a hard time imagining the younger generation tolerating an infrastructure that is akin to the fax machine in a smartphone world.
If you’re a custodian, and you cannot figure out how to open an account and fund it via ACH in less that 48 hours… you have NO shot with younger generations.
Good heavens… I feel like I’m waiting on carrier pigeons
— Burrow Time (@MichaelHBaker) April 21, 2021
Or how about this one from our CEO, Tyrone Ross, back in August of 2020, where he provides data to back the claim that the benefits of a faster payment system will impact millions of people for the better!
“Wells Fargo alone reported over 2 million customers had overdrafts attributable to only a 24 hour delay in direct-deposit payments, which like all ACH payments are not instant.” — Tyrone V. Ross Jr. (@TR401) August 24, 2020
It’s clear, financial advisors and the clients they serve should have access to the innovative ways that assets are moved from one location to another. Therefore, we are excited to announce that investors can now fund their accounts through a simple wallet-to-wallet transfer. That’s right, no intermediary, no bank, just software that delivers your property to where you would like it at your discretion.
To learn more about how this can make an impact on you and your clients, use the form below to request access.