Just as prepaid cards helped sell bank-like services to the underbanked, an investment manager is planning to use similar cards to sell to the underinvested.
Gratio Capital's GoalPack works like a gift card: It can be purchased for any amount starting from $25 and "redeemed" at the company's website by allocating the cash into one of three mutual funds or a savings account. (Money can later be added to the account by direct deposit.) By focusing on small starting amounts, the company hopes to get the business of consumers usually overlooked by bigger brokerages.
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