Ready to invest, almost there.

Creating accounts on the DriveWealth platform is very simple. Just a few considerations, on the types of accounts.

We offer the following:

• Cash Account 💰- commonly referred a as self directed account. The user choose when/how much is invested.
• Robo Advisory Account - Our partners curate portfolios for users, and the DriveWealth platform will keep the user's account inline w/ those weights and drift parameters.
• Managed Account - The account is fully managed by our partner' and they full control over the account.
• Teen / Custodial Account - A teen or custodial account is designed to transfer to the beneficiary at a age of majority, commonly 18. To learn more, see here.
• Limited Purpose Margin Account (LPMA) - A LPMA is an account designed to allow users to trade on funds that are in flight to the brokerage firm. A LPMA gives the user that instant buying power after a qualifying deposit or buying power check.
• Margin Account - A margin account allow a user to borrow funds at a 2:1 leverage.
• Retirement Account - We offer a few different types of IRA accounts. Traditional IRA, Roth IRA, Rollover IRAs, Rollover401Ks and more.
• Health Savings Account - The HSA account allow users to invest in securities once their account balance is commonly above $1,000.00.

Common FAQs

• Store the id and the accountNo from the response when creating the account.
• There is a one to many relationship for user and accounts.
• Beneficiaries information collection is not required, but recommended.