Our Story

 

DriveWealth was founded on the mission to democratize investing in the U.S. stock market by making it available to everyone, globally, at an affordable cost. We have developed a unique proprietary ecosystem powered by licenses to clear fractional-share orders. Partners around the world, and hundreds of thousands of clients have—for the very first time—access to invest in the most stable, liquid, and regulated financial system. 

We started our journey by rethinking how legacy brokers operate to identify the numerous inefficiencies which complicate and increase transactional costs for retail investors, globally. Next, we set out to solve these issues through technology. Feature by feature, we chipped away at these issues that plague legacy firms and developed proprietary infrastructure and software to support a better user experience at a fraction of the legacy cost.

Another realization in our journey was that many retail investors were underserved: being unable to meet the minimum account balances most brokers require; the cost of transacting in U.S. securities was prohibitive or simply because the cost per share of their favorite company was too high to buy a single share. We removed the requirement to purchase securities in share quantities, allowing for dollar-based investing; we lowered the cost of transacting in securities through the efficiencies of technology; and removed the minimum account balances many brokers required. 

As a wealth building platform, with a customer first mentality, we took additional steps to provide certain protections for investors looking to build diversified portfolios. Through technology and policy, we developed a number of safe guards which notify customers of trading violations, we elected to offer only exchange listed securities, ETFs and ADRs (no penny stocks) and implemented a retail focused surveillance system, which provides transparency to customers by providing real-time updates on margin leverage, protecting customers from margin calls, and monitoring to detect GFVs and PDTs after (and even before) they occur. All of these decisions were with the view of creating a better user experience while providing transparency and protections for retail customers.

For DriveWealth, accessibility means much more than allowing someone to open a brokerage account. It means completely transforming the brokerage experience for the next generation of investors—all inside of your next great fintech product.

Senior Managment

 

Robert Cortright

Chief Executive Officer

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Michael J. Dugan

Chief Financial Officer

Harry Temkin

Chief Information Officer

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V. Michael Fitzgerald

 

Head of Corporate Strategy

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Mark Bulger

Chief Compliance Officer

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Mark Smedley

Head of Partnerships & Business Development

Our Technology

Built by an experienced team of both financial and non-financial developers, our APIs combine modern application technologies with our vision of rethinking how brokerage operates.

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