PayPal, the electronic payments firm, is entering the robo-advisory business.
It has announced a new arrangement with Acorns, a robo-advisory firm focused on small investors, that essentially creates a two-way street for customers with accounts at both firms.
Customers will be able to transfer funds between the two accounts, including contributions and withdrawals, and they can use the PayPal website and mobile app to open an Acorns account and then monitor their investments.
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Bernice Napach
Bernice Napach is a senior writer at ThinkAdvisor covering financial markets and asset managers, robo-advisors, college planning and retirement issues. She has worked at Yahoo Finance, Bloomberg TV, CNBC, Reuters, Investor's Business Daily and The Bond Buyer and has written articles for The New York Times, TheStreet.com, The Star-Ledger, The Record, Variety and Worth magazine. Bernice has a Bachelor of Science in Social Welfare from SUNY at Stony Brook.
