Finvest is a personal wealth management app that optimizes your finances by handling spending, saving, and investing.
Features
Personal Wealth Manager
Provides a continuous optimization of your financial resources across spending, saving, and investing.
Personal Wealth Manager
Provides a personal wealth manager accessible at all times.
Financial Optimization
Optimizes your financial resources across spending, saving, and investing.
Automatic Treasury Bill Purchase
Easily buy US Treasury Bills via an app with just a few clicks, making the process simple and user-friendly.
Competitive Rates
Access high-interest rates for Treasury Bills, often higher than traditional savings accounts.
Secure Investments
Investments are backed by the US government, ensuring a high level of security.
Easy Setup
Simple setup process for managing and tracking investments directly through a mobile app.
Investment Platform for Treasury Bills
Allows users to buy and sell US Treasury Bills directly through the platform, offering a potentially higher interest rate compared to most savings accounts.
Diversification of Treasury Bill Options
Provides options to buy 1 month, 3 month, 6 month, and 1 year Treasury Bills, offering flexibility in investment durations.
User Safety and Security
Custodial accounts are managed by Pershing LLC, a subsidiary of The Bank of New York Mellon, ensuring safe handling of investments and funds.
Future Investment Products
Plans to offer high-yield spend accounts, money-market funds, Treasury Notes and Bonds, Municipal Bonds, and Certificates of Deposits.
Custody Service
Accounts are custodied with Pershing, a subsidiary of BNY Mellon, ensuring secure storage of funds and investments.
SIPC Coverage
Provides coverage up to $500,000 for securities accounts, enhancing financial security.
No Commission or Sneaky Fees
Transparent fee structure with no hidden or sneaky fees. Earnings primarily come from AUM fees.
Enhanced Security Standards
Robust security policies are enforced to keep accounts safe.
24/7 Support
Offers round-the-clock support to assist customers at any time.
Treasury Account Fees
Charges a 0.30% per month fee based on the average daily market value of your Treasury Account. This fee is automatically deducted from your cash account monthly.
Finvest Cash Account
Provides a 4.8% annual interest rate. Funds are held in a secure government money-market fund. There is an 0.11% per month fee on the daily balance, contributing to a total fee of 0.06% per month.
Refer a Friend Program
Allows users to refer friends and earn extra 1.2% APY on investments in Treasury Bills.
Investment in Treasury Bills
Users can invest in Treasury Bills through the Finvest app to start earning returns and participate in the referral program.
APY Boost for Referrals
Users receive an additional 1.2% APY boost for each friend they refer who invests, enhancing their financial returns.
User Benefits
Referred friends also receive a special 1.2% APY boost when they join and invest, providing mutual benefits.
Automatic Treasury Bill Purchase
Enables seamless buying of US Treasury Bills directly through the app. Users can select purchase options and automate their investments.
Interest Rate Analysis
Provides information on current Treasury Bill interest rates and comparisons to past data, helping users make informed decisions.
Savings vs Treasury Comparison
Offers a visual comparison feature that shows potential earnings from treasury bills versus traditional savings accounts.
Security Measures
Implements robust security protocols to protect user data and investments, ensuring peace of mind for users.
Treasury Bill Information
Provides explanations of what a Treasury Bill is and how it works, helping users understand the basics of investing in them.
Investment Benefits
Outlines why investing in Treasury Bills can be beneficial, emphasizing security and potential returns.
Tax Deductions
Explains the special tax deductions available for Treasury Bill investors, helping users save money on taxes.
Liquidity Options
Details options for selling Treasury Bills before maturity, offering flexibility to investors.
Interest and Yield
Clarifies what 'interest' and 'yield to maturity' mean, aiding users in calculating potential earnings.
Maturity Dates
Explains the concept of maturity dates, providing insight into when investors will receive their returns.
Earnings Potential
Provides information on how much investors can make from Treasury Bills, based on interest rates and terms.
Fund Security
Explains where and how the money is stored, highlighting the security measures in place.
Types of Treasury Securities
Describes different types of Treasury Securities available for investment, offering more options to investors.
Comparison with Money-Market Funds
Compares Treasury Bills with money-market funds, assisting investors in choosing the right investment vehicle.
Account Opening Requirements
To open an account with Finvest, you need to be 18 years or older, have a legal residential address in the U.S, have a social security number, and be a U.S citizen or U.S resident.
Account Opening Duration
Once all information is correctly submitted, the account is usually opened instantly, allowing you to place trades and deposits immediately.
Fund Transfer Duration
Bank account transfers to your brokerage account can take 3-5 days. Trading is available once funds are in your brokerage account.
SIPC Coverage
Customers' funds are covered by SIPC, protecting securities customers up to $500,000, including $250,000 for claims for cash.
Treasury Bill Investments
Funds are invested in Treasury Bills, backed by the full faith and credit of the US government, known for their safety.
Custody with Pershing LLC
Funds and investments are custodied with Pershing LLC, a subsidiary of The Bank of New York Mellon.
Market Hours
You can place an order anytime in the Finvest app, even after market hours. The markets are open from 9:30 AM to 4 PM ET during regular business days.
Investment Options
Invest in 1-month, 3-month, 6-month, and 1-year Treasury Bills through the Finvest app. Plans to offer more products like high-yield savings accounts and international bonds in the future.
Tax Benefits
No need to pay state or local taxes on the interest earned from Treasury Bills invested through Finvest.
Buying Treasury Bills
Allows purchase of Treasury Bills in various maturities with an example provided for a 1-month bill with a 5% annual interest rate.
Maturity and Returns
Upon maturity of a Treasury Bill, the investment and interest are returned to the Finvest Cash Account.
Selling Treasury Bills
You can sell your Treasury Bill anytime on Finvest, as Treasury Bills are highly liquid securities.
High-Yield Cash Account
Offers a 4.5% yield, higher than most savings accounts. Any cash in the app earns this yield. Allows deposit and withdrawal anytime with no minimums.
Automatic Fund Sweep
Cash is swept into the Dreyfus Government Cash Management fund, which has over $100 billion in assets and is AAA-rated. Designed for preservation of capital and maintenance of liquidity.
Plaid Integration
Finvest uses Plaid to securely connect to your bank account. This integration allows easy bank account linkage by prompting users through the Plaid page to enter their bank details.
Individual or Joint Bank Account Funding
You can fund your Finvest account using an individual or joint bank account. Business account funding is not supported at this time.
Bank Overdraft Prevention
Finvest advises having sufficient funds in your account to prevent a bank overdraft fee or related issues. This implies some form of balance checking or notification system.
Trade Placement
You can place an order anytime in the Finvest app, even after market-hours. Orders are processed during regular business days from 9:30 AM to 4 PM ET (Monday-Friday, except holidays). Orders place outside these hours are queued for processing when the market opens on the next trading day.
Bank Transfer Timing
It can take 3-5 days for bank account transfers after initiating a transfer from your bank account to your brokerage account. You can buy or sell orders in the market once your funds are in the brokerage account.
Transfer Reversal Prevention
To prevent transfer reversals, confirm your bank account has sufficient funds, is compatible with outgoing ACH transfers, and correct information is entered. If a deposit or trade fails, you receive email notification. For reversals, bank accounts might be unlinked.