Ola
Ola offers financial education, investment accounts without SSN or ITIN, high-yield savings, personalized coaching, and a membership program with access to investment portfolios.
Services
Ola provides a variety of financial services including financial education, news, and more. They offer personalized financial coaching, investment advice through their SEC-registered investment adviser, Ola Invierte, LLC, and provide automated portfolio management. They also offer a membership program that includes access to investment portfolios, as well as courses on saving, debt repayment, and investing. Their customer support is accessible via email and WhatsApp.
Investment Accounts
Ola offers investment accounts without requiring a Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN). They provide Individual Retirement Accounts (IRAs) including Traditional, Roth, and SEP IRAs. Automated portfolio management is also available, featuring rebalancing and dividend reinvestment. Additionally, clients can invest in over 1500 stocks including major companies like Apple, Amazon, and Tesla. Investment accounts are protected up to $500,000 by the SIPC.
High-Yield Savings Accounts
Ola offers high-yield savings accounts with an annual percentage yield (APY) of up to 5%, which is variable. These accounts allow clients' funds to be deposited into one or more banks, where they can earn a variable interest rate and are eligible for FDIC insurance through Betterment Cash Reserve.
Brokerage and Digital Asset Trading
Ola's brokerage services are provided by Betterment Securities and Apex Clearing Corporation. Their digital asset trading services and custody are managed by Gemini Trust Company, LLC. They also offer Betterment Checking through Betterment Financial LLC. This robust brokerage infrastructure allows clients to engage in a wide range of financial activities securely.
Newsletter and Financial News
Ola provides a newsletter featuring financial news and guides. This service is part of their broader educational efforts to keep clients informed about market trends, investment opportunities, and financial strategies. The newsletter is an essential tool for clients looking to stay updated and make informed financial decisions.