HSA Provider Lively Adds Automated Investing, Access to DFA FundHSA Provider Lively Adds Automated Investing, Access to DFA Fund
The direct-to-consumer HSA provider partnered with Devenir to give consumers access to automated investing features.
Direct-to-consumer HSA provider Lively is partnering with HSA investments research and tool provider Devenir to give investors access to an automated investing product, which includes access to a DFA fund, according to an announcement.
Called HSA Guided Portfolio, the feature helps HSA participants invest their assets across a range of funds, with no investment thresholds. The service costs 50 basis points.
Minneapolis-based Devenir has specialized in health-based accounts since 2004 and offers automated rebalancing and guides to asset allocation based on users’ risk preferences and time horizons. The funds available to HSA Guided Portfolio users are all mutual funds.
Lively already provided access to TD Ameritrade self-directed brokerage accounts and noted that more than 20% of its account holders already invest in HSA funds, compared with an average of 4% across the rest of the industry.
“Investing should be accessible to all HSA account holders, so we’re thrilled to add HSA Guided Portfolio to our already robust investing offering,” said Alex Cyriac, CEO and co-founder of Lively, in a statement. “By offering industry-leading investment solutions, we help each account holder make their money go further by investing in the way that is right for them.”
