Unbiased artificial intelligence drives financial advising
SALT LAKE CITY, Jan. 31, 2018 (GLOBE NEWSWIRE) -- Overstock.com, Inc. (NASDAQ:OSTK) announces the launch of a digitally-driven investment platform (otherwise known as robo-advising), presented by tZERO Advisors. The service is accessible to investors through the online retailer’s FinanceHub™.
For a monthly fee of $9.95, investors can either select from a group of pre-established Adaptive Dynamic Portfolios matched to their investment profiles, or create a customized blend of these portfolios.
“This service introduces robo-advising investment management services to our millions of customers and continues Overstock’s commitment to bridging Wall Street and e-commerce,” said Patrick M. Byrne, Overstock’s founder and CEO.
tZERO Advisors is powered by FusionIQ’s B2C investment platform. FusionIQ is an innovative fintech company that provides intelligent investment solutions that enable easy online investing. The platform will also use FusionIQ’s proprietary algorithms and scoring system to develop and rebalance the Adaptive Dynamic Portfolios based upon dynamic market factors.
“Overstock currently delivers world-class service and award-winning customer experiences to as many as 40 million unique visitors per month. They trust us with their home and, more recently, auto purchases,” continued Byrne. “We are excited about this new program that offers our customers the opportunity to bring artificial intelligence to their financial planning.”
In addition to robo-advising, Overstock’s FinanceHub™ offers a one-stop source for brokerage and advising products, lending products, credit card products, and insurance products presented by various financial institutions.
Overstock.com, Inc. (Common Shares (NASDAQ:OSTK) / Series A Preferred (Medici Ventures’ tZERO platform: OSTKP) / Series B Preferred (OTCQX:OSTBP)) is an online retailer based in Salt Lake City, Utah that sells a broad range of products at low prices, including furniture, décor, rugs, bedding, and home improvement. In addition to home goods, Overstock.com offers a variety of products including jewelry, electronics, apparel, and more, as well as a marketplace providing customers access to hundreds of thousands of products from third-party sellers. Additional stores include Pet Adoptions and Worldstock.com dedicated to selling artisan-crafted products from around the world. Forbes ranked Overstock in its list of the Top 100 Most Trustworthy Companies in 2014. Overstock regularly posts information about the company and other related matters under Investor Relations on its website, http://www.overstock.com.
About tZERO Advisors
tZERO Advisors, LLC is an SEC Registered Investment Advisor. tZERO Advisors seeks to use technology to provide investors the best possible equity based portfolio for their stated risk tolerance. The tZERO offering includes: innovative, risk tolerance matching US based equity portfolios, dynamic portfolios designed to address changing markets, and analytics and algorithms that drive US equity based portfolios. Investing in securities involves risk and there is always the potential of losing money when you invest in securities. Before investing consider your objectives, tZERO charges and related expenses. Past performance is no guarantee of future results. This is not an offer or advice to buy or sell securities.
FusionIQ is an innovative fintech company that provides intelligent investment solutions that enable easy online investing. Through a low-cost digitally driven investment platform, investors benefit from FusionIQ’s real-time proprietary financial research and algorithm for scoring and ranking securities in four dimensional factors (fundamental, technical, sentiment and momentum) that are constantly adjusted for various market environments.
O, Overstock.com, O.com, Club O, Main Street Revolution, and Worldstock are registered trademarks of Overstock.com, Inc. O.biz and Space Shift are also trademarks of Overstock.com, Inc. Other service marks, trademarks and trade names which may be referred to herein are the property of their respective owners.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements include all statements other than statements of historical fact. Additional information regarding factors that could materially affect results and the accuracy of the forward-looking statements contained herein may be found in the Company's Form 10-Q for the quarter ended September 30, 2017, which was filed with the SEC on November 8, 2017, and any subsequent filings with the SEC.
SOURCE: Overstock.com, Inc.
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