SANTA MONICA, Calif.--(BUSINESS WIRE)--Wilshire Associates (“Wilshire”), a leading global, independent investment consulting, investment management, and services firm, today announced its collaboration with MoneyLion, America’s “most powerful financial membership,” to launch a series of asset allocation portfolios specifically designed for MoneyLion members.
MoneyLion was created to make money more approachable for all Americans, helping revolutionize the way they save, invest, and build their credit. This innovative offering in collaboration with Wilshire will provide an upgraded investment experience for MoneyLion members, enabling them to receive a portfolio that reflects their personal preferences and tolerance for risk.
“Our financial membership makes millions of Americans’ money work as hard as they do, and we’re always looking for new partnerships that allow us to create smarter products to help people build positive and sustainable financial habits,” said MoneyLion CEO and co-founder, Dee Choubey. “Hardworking Americans deserve access to financial tools that, until now, have only been available to the wealthiest individuals using traditional financial institutions. 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.”
MoneyLion will leverage Wilshire’s robust asset allocation and comprehensive fund monitoring capabilities to identify portfolios that meet the needs of MoneyLion members. For over 30 years, Wilshire has been advising some of the nation’s largest institutional investors, and today it advises on more than $1 trillion in assets. Together, MoneyLion and Wilshire will level the playing field for individual investors, providing them access to the same world-class investment insights and unrivaled resources developed for Wilshire’s institutional client base.
“We are extremely pleased to partner with MoneyLion in the development of this unique offering, and to bring our deep institutional expertise in asset allocation to everyday investors,” said Jason Schwarz, President of Wilshire Funds Management and Wilshire Analytics. “Wilshire has a long history of providing preeminent, customized investment solutions to sophisticated investors around the world, and we look forward to working together with MoneyLion to deliver the same high-quality products and services to MoneyLion members.”
In collaboration with MoneyLion, Wilshire has developed forecasts on asset class risk and return characteristics based on institutional data and trends, and it has used in-depth risk budgeting techniques to create a series of dynamic, forward-looking, risk-controlled portfolios. Wilshire routinely surveys and monitors a universe of over 2,000 exchange-traded funds (ETFs), selecting only those that are well priced, highly liquid, most efficiently traded, and well established and that have demonstrable track records of closely replicating the returns of their benchmarks.
“This is an offering that is normally reserved for clients of larger wealth management firms or institutions and we are making the same offering more accessible for all investors. Where there are usually high minimums - we remove them, where concepts are confusing - we aim to simplify. We are removing the traditional barriers to investing to give our members solutions supported by a sophisticated partner that provides MoneyLion members with the ability to build their finances and pursue their financial goals,” added Jon Stevenson, Head of Wealth Management and Banking at MoneyLion.
The new asset allocation and fund monitoring capabilities will be available to MoneyLion members starting in October 2018. For more information, please visit www.moneylion.com.
About Wilshire Associates
Wilshire Associates, a leading global financial services firm, provides consulting services, analytics solutions and customized investment solutions to plan sponsors, investment managers and financial intermediaries. Its business units include, Wilshire Analytics, Wilshire Consulting, Wilshire Funds Management and Wilshire Private Markets. The firm was founded in 1972, providing revolutionary technology and acting as an early innovator in the application of investment analytics and research to investment managers in the institutional marketplace. Wilshire also is credited with helping to develop the field of quantitative investment analysis that uses mathematical tools to analyze market risks. All other business units evolved from Wilshire’s strong analytics foundation. Wilshire developed the Wilshire 5000 Total Market Index and became an early innovator in creating integrated asset/liability analysis/simulation models as well as practical models in risk budgeting through beta and active risk analysis. Wilshire has grown to a firm of approximately 270 employees serving the needs of investors around the world. Based in Santa Monica, California, Wilshire provides services to clients in more than 20 countries representing approximately 500 organizations with assets totaling US $9 trillion (Client assets are as represented by Pensions & Investments (P&I), detailed in P&I’s “Largest Retirement Funds” and P&I’s “Largest Money Managers (U.S. institutional tax-exempt assets)” as of 9/30/17 and 12/31/17, and published 2/5/18 and 5/28/18, respectively). With ten offices worldwide, Wilshire Associates and its affiliates are dedicated to providing clients with the highest quality products and services. Wilshire® and Wilshire 5000® are registered service marks of Wilshire Associates Incorporated. Wilshire 5000 Total Market Index℠ is a service mark of Wilshire Associates Incorporated.
MoneyLion is America’s most powerful financial membership, designed to give every hardworking American a sustainable path to their financial goals. Since its founding in 2013, MoneyLion has served over 3 million customers with hassle-free saving, managed investing, low-cost borrowing, and the only rewards program for building better financial habits. MoneyLion uses artificial intelligence and machine learning to supercharge its users' finances with personalized advice and alerts, all from a single beautiful mobile app. MoneyLion is headquartered in New York City, with offices in San Francisco, Salt Lake City, and Kuala Lumpur, Malaysia. For more information, visit www.moneylion.com or download the app here.
MoneyLion’s affiliate, ML Wealth LLC, is a Registered Investment Adviser with the SEC. MoneyLion Plus members’ investments are protected by the SIPC (Securities Investor Protection Corporation) for up to $500,000. Brokerage services are provided to clients of ML Wealth by Drive Wealth LLC, a member of FINRA/SIPC. Other services are provided by affiliates, including ML Plus, LLC. This communication and all data are for informational purposes only and do not constitute a recommendation to buy or sell securities. Past performance is no guarantee of future results. Keep in mind that investing involves risk. The value of your investment will fluctuate over time, and you may gain or lose money. Nothing in this communication should be construed as an offer, recommendation, or solicitation to buy or sell any securities or services. The statement that MoneyLion offers “America’s Most Powerful Financial Membership” is based on MoneyLion’s own evaluation of the overall range of services and features the MoneyLion Plus membership offers as compared to those offered by membership programs sponsored by other financial institutions. In reaching this conclusion, MoneyLion did not limit its assessment exclusively to investment advisory services. It considered the full scope of services and features offered, including investment advisory capabilities, cashback features, rewards points, overdraft fees, access to ATMs, cash advances, consumer loans, annual percentage rates (APR), and underwriting criteria, in relation to the amount of the monthly membership or user fee.
Tim Black, 415-593-1999
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