Chime launches an investment feature
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Chime Invest allows users to buy stocks and exchange-traded funds commission-free through its app. Customers may also choose to have portfolios managed through a partner. Chime is adding an investment product to its arsenal. The fintech launched Chime Invest on its app, allowing users to buy stocks and exchange-traded funds commission-free, the company announced Monday. Alternately, customers can choose to let Chime partner Atomic Invest create a portfolio tailored to their goals and risk profile, with no account balance minimum and no fees if they are Chime Prime members. Chime unveiled a tiered membership structure in April. The managed portfolio option in Chime Invest comes with a 0.10% annual fee for users in the fintech's second tier, Chime Plus. Other Chime members would pay a 0.25% annual management fee for the service. "The hardest part of investing is often getting started and sticking with it," Chime CEO Chris Britt said in a statement Monday. "Millions of people already trust Chime with their money every day. By bringing investing into the app they already know and love, we're making it easier to turn saving into investing and investing into long-term wealth." General access to Chime Invest is set to roll out in the coming weeks, the company said. The product puts the fintech squarely in a market where bank-adjacent platforms like Robinhood and Wealthfront...
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