ShareBuilder, Wal-Mart Form 'Easy Investing' Alliance
BELLEVUE, Wash. -- Wal-Mart Stores Inc. and online brokerage ShareBuilder Corp. have come together to bring investments to those described as the "emerging investor."
The "Easy Investing" Service is presented to Wal-Mart customers and employees. In many ways, Easy Investing is the ShareBuilder service in its regular form and at usual prices. The differences are the standard program costs $8 instead of $12 per month, and investors get four instead of six pre-paid purchase transactions. The Advantage recurring investment program costs $16 instead of $20 per month, and investors get 16 instead of 20 pre-paid purchase transactions. Customers are also presented early with ShareBuilder's Money Market Investing or Stock Market Investing. ShareBuilder's regular format takes users right to a page to buy stocks or exchange traded funds. Wal-Mart employees get a $25 reward for opening and funding an account.
"Wal-Mart wanted to clear an alternative path for those customers that just want to put money into a money market fund as a way to get started, understanding that later they'll be likely to adopt more of a stock investing strategy," according to ShareBuilder.
The alliance is considered to be one of Wal-Mart's first expansion into financial services since dropping its effort to start an industrial bank. In addition to credit unions, ShareBuilder has partnerships with banks, airlines and Sallie Mae. - firstname.lastname@example.org