Oct 04, 2018
New York-based MoneyLion, which was founded in 2013, and has garnered 3M+ clients has partnered with Wilshire to create 4 ranges of 6 risk-based portfolios for the firm, with every portfolio comprised of ETFs. The 4 ranges are: tax qualified and tax efficient, which will then be available in strategic asset allocation and dynamic market versions.
At the most conservative risk level, the portfolios have a 75% allocation to fixed income and at the most aggressive end of the spectrum, they will have a 0% exposure to the asset class.
Each portfolio is made up of roughly 12 ETFs with that number typically decreasing as the models get more aggressive.
The underlying ETFs will come from big name providers like Vanguard, iShares and State Street and carry fees of between 7 basis points (bps) to 10bps.
Our agreement with Wilshire is yet another step toward putting the power of financial stability and growth in the hands of the Americans who need it most.
Diwakar Choubey, Chief Executive and Co-Founder - MoneyLion