I figured the RIA registration would be sufficient, no? Was Madoff also RIA?
How do their execution rates compare to Schwab?
Are they receiving “reimbursements” for every order from third parties?
How does the service cover its operating costs?
Because Loved offers fractional investing, which means that you can buy as little as a $1 of a stock like Amazon or an S&P500 index fund, trades are placed in morning and afternoon trading windows. In that way, it’s designed for long term investing with regular dollar cost averaging rather than trading which somewhere like Schwab may be better designed for.
Loved receives no third party reimbursements or commissions. The company covers its costs to operate by way of its private investors and securities are held with Apex Clearing who are SIPC insured. It’s totally free and in time we may offer optional premium services if our users wish to opt-in to these.
Hope this helps.
Apex certainly does. See their sec 606 report.
But so does virtually every new fintech startup, one way or another. I won’t hold it against you