Ally Invest added 115 commission-free exchange-traded funds to its online trading platform.
Ally Invest's announcement follows a slew of other platforms broadening their commission-free ETF offerings over the past year — including Vanguard, Schwab and TD Ameritrade.
This is the first offering of commission-free ETFs from Ally Invest, which is the brokerage and wealth management offering of Ally Financial. Ally Invest has a low-cost trading platform for self-directed investors, as well as a suite of automatically managed investment portfolios, both delivered online.
"We're proud to introduce commission-free ETFs from some of the industry's most innovative and admired providers and give our customers even more choice when it comes to their investing preferences," said David Dusseault, executive director of Ally Invest, in a statement.
A little more than 30 of the commission-free ETFs that Ally Invest is offering are iShares ETFs from BlackRock, including ones focused specifically on the environmental, social and governance sector. Common themes for these socially responsible funds include investments in companies engaged in social justice, environmental sustainability and alternative energy/clean technology efforts.
The rest of the commission-free ETFs offered on the platform are WisdomTree ETFs. WisdomTree offers a full range of ETFs covering domestic, international and global equities, fixed income, currencies, commodities and alternative strategies, as well as "smart beta" and active ETFs.
