A new app unveiled by Clink promises to simplify the investment and portfolio management process.
The no-fee app allows users to preset investment amounts from their checking account and a fixed percentage of every credit card spend. Funds are deposited into a Clink account and then invested in a portfolio of exchange-traded funds based on user risk tolerance. Users can easily manage their portfolios.
Bank-level security measures are included, the company said in a release. Users can also withdraw funds at any time.
Clink’s stock selection process borrows from Modern Portfolio Theory, a philosophy which seeks to balance risk and return. Users select their risk tolerance and the Clink algorithm suggests a portfolio.
Clink’s founder and CEO expects his app to be a hit with millennials.
“As a longtime member of the financial community, I have found that many people – particularly the millennial generation — are often hesitant about investing in the stock market or unsure about where to begin,” Eyal Fruchtman said. “This has led us to rethink investing and create Clink.
“Designed for mobile, Clink’s advanced platform simplifies investing and allows users to personalize their contributions and save every time they spend.”
Clink investments are insured up to $500,000 with the Securities Investor Protection Corporation.