Alegeus announced Wednesday that it will launch its modern HSA investment solution in mid-June. An extension of the Alegeus HSA experience, the company says that investment solution goes beyond anything currently available from an HSA provider, with features like real-time and fractional trading, a fully automated robo advisor, and a full range of investing models for every investor experience level.
“HSAs are designed to be saving vehicles, yet most consumers today use them as spending accounts and are not disciplined about saving for the future,” Mark Waterstraat, chief customer officer at Alegeus, said in a statement. “This new modern investment experience, coupled with other capabilities like our high-yield banking model, will empower consumers to achieve financial wellness, supporting them through all phases of their healthcare journey – spending, saving, and investing.”
Powered by DriveWealth, a global API-driven, cloud-based brokerage infrastructure—the Alegeus investment solution builds on the company’s Smart Account strategy and investment stack.
Consumers receive alerts when eligible to invest, and they can open an investment account immediately, moving funds back and forth in real-time.
Within the Alegeus portal and mobile app, consumers gain full transparency into assets and allocations, and real-time insights as fund values change throughout the day. Ongoing Smart Account guidance proactively offers recommendations as balances grow, allowing for greater account engagement, satisfaction, and retention.
“We’re proud to disrupt the HSA market with a true health and wealth experience that will serve as a differentiator for our clients in an increasingly competitive space,” Waterstraat concluded. “This new investment solution is one part of a broader series of HSA enhancements that will allow our clients to compete in the market with a value-differentiated, best-in-class HSA solution.”
With more than 20 years serving financial markets, John Sullivan is the former editor-in-chief of Investment Advisor magazine and retirement editor of ThinkAdvisor.com. Sullivan is also the former editor of Boomer Market Advisor and Bank Advisor magazines, and has a background in the insurance and investment industries in addition to his journalism roots.
