Richr Offers Advisory Service for Wealth Management: Richr Money

1 month ago Banking CIO Outlook

Richr Offers Advisory Service for Wealth Management: Richr Money

Banking CIO Outlook |

Wednesday, February 01, 2023

New platform enables Richrs clients to invest the proceeds from selling their homes.

FREMONT, CA: “For the first time ever in the U.S., consumers selling their homes, who aren't intending on re-purchasing, have a wealth management solution to reinvest their capital while inflation is at its highest,” says Glenn Origin, Richr CEO. Richr has come up with Richr Money, a wealth management advisory service that enables home sellers to invest the capital profits of their house sale right out of escrow into stocks, bonds, and other financial instruments at the time of closing.

“We are excited to launch Richr Money in partnership with DriveWealth to provide a home investing solution to home sellers. At closing, consumers selling their home receive the largest amount of capital they will ever receive in one lump sum, and Richr allows them to invest their capital directly out of escrow into a variety of investments without having to involve a third-party,” adds Origin.

Richr Money, in cooperation with DriveWealth, will assist sellers who are not ready to acquire another home in reinvesting the proceeds from selling their current home. The mix of services offered by Richr enables users to sell their homes, finalize the deal, and invest in a single location.

DriveWealth is a pioneer in fractional equity trading and a worldwide fintech investment rail. By providing innovative investment alternatives, the technology company will collaborate with Richr Money to help home sellers to take control of their finances. If they are not ready to acquire a new home, home sellers will have access to various investment opportunities.

"As we continue building out new and innovative solutions for our partners and their customers, we're thrilled to partner with Richr and provide homeowners with powerful investing tools to help reinvest their capital for the first time in the U.S.," says Gayathri Rajan, Chief Product Officer at DriveWealth. "Our mission at DriveWealth is to empower millions to take control of their financial futures, and the launch of a unique platform like Richr Money provides homeowners with the ability to build their wealth as they make one of the most important financial decisions of their lives."

Richr Money joins the Richr platform, which includes:

Richr Homes: enables house sellers to sell their homes for 1% NET, saving them 2 percent that they may invest in Richr Money, while offering complete real estate agent services, including marketing, contract review, negotiations, and closing services, without the customary 6 percent expense of real estate agents.

Richr Title: provides house sellers with an unmatched one-stop-shop experience designed to facilitate a seamless and remote closing.

Since 2019, Richr has provided unique money-saving tools to Florida residents selling or purchasing a house, improving the experience on both sides of the transaction. Today, Richr is a wealth-generation tool that helps people sell their homes for less money while providing sellers who need more time to buy with asset management tools. Richr assists individuals in investing the proceeds from the sale of their homes in various long-term equities and bonds.

Richr enables individuals to take control of their finances and accumulate greater wealth by making homeownership more accessible. It is the first and only platform consolidating real estate brokerage and title settlement services for a nominal 1 percent cost. This means sellers have control over the sales process and are not required to pay excessive agent commissions.

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