Robo-advice goes bilingual

In launching its mobile-first platform, New York-based robo-adviser Finhabits decided to add something else that may be new in mobile advice: Spanish. Finhabits contends that its new platform is the first bilingual automated service for IRAs and other retirement and investment accounts, and “combines fiduciary advice with behavioral nudges, making it easy for everyone to get into the habit of investing in their future,” according to a press release. "I see technology as the great equalizer that'll help our country close the wealth gap among minority communities," said Carlos Garcia, founder and CEO of Finhabits and an MIT alumnus with over 14 years of experience in the financial industry. "Our mission is to make investing more inclusive so anyone can reach their financial goals." Finhabits recommends customized and diversified portfolios of index funds from Vanguard and BlackRock and allows users to invest as little as $5 a week. Timely reminders help reinforce those habits and ensure investors stay on track. Fees are $1 per month for accounts under $2,500, or 0.50% annual fee for balances over $2,500.