ING DIRECT ACQUIRES SHAREBUILDER
Online Brokerage Brings Everyday Investment Solutions to ING DIRECT Line of Consumer Friendly Financial Products
WILMINGTON, Del. ? ING DIRECT USA, the nation's largest direct bank (part of Netherlands-based ING NYSE: ING) announced today that it has completed its acquisition of ShareBuilder Corporation, a privately-held Seattle-based online financial services company. The acquisition which is part of ING DIRECT's latest step toward meeting the financial needs of Main Street, USA, will add cost-effective, simple investment options to ING DIRECT's consumer product offerings, which currently include online savings and checking accounts, CDs, Mutual Funds and mortgages.
Through this transaction, ING DIRECT, through its broker-dealer subsidiary ING DIRECT Securities, Inc., has acquired 100% of ShareBuilder Corporation's outstanding equity-related interests, including its subsidiary ShareBuilder Securities Corporation.
"ING DIRECT has empowered savers with great value, ease of transactions and unmatched customer service," commented Arkadi Kuhlmann, President and CEO of ING DIRECT. "Now, with the addition of ShareBuilder we can provide customers a low-cost, easy to understand way to invest on a regular basis. Both Companies share a mission to enable Main Street America to build and manage their wealth in a straightforward manner."
"These are two companies who are committed to their customers and the financial health and well-being of those customers. Both ING DIRECT and ShareBuilder provide financial products and services that are simple, easy-to-understand, and accessible for mainstream America," said Dan Greenshields, President and CEO of ShareBuilder Corporation. "We are confident that our combined company's broader range of products and services will motivate Americans to save."
ShareBuilder, like ING DIRECT, is a low-cost, direct business model. Both target early stage investors - ING DIRECT through the Orange Savings Account, Electric Orange, CDs and Mutual Funds; and ShareBuilder through a limited set of simple and high-value investment products including Stocks, Exchange Traded Funds, Options and Automatic Investment Plans. Most significantly, both promote regular investment and long-term savings.
About ING DIRECT
ING DIRECT, the nation's largest direct bank and fourth-largest thrift, is dedicated to inspiring Americans to become a nation of savers. Since its inception in 2000, more than 6 million Americans have entrusted their savings with ING DIRECT, building the bank to $77 billion in assets. For more information on ING DIRECT, or to learn more about the bank's high-value products, including the Orange Savings Account and the Orange Mortgage, visit
www.ingdirect.com or call 1-800-ING DIRECT.
About ShareBuilder
ShareBuilder Securities Corporation (
www.sharebuilder.com) is an online brokerage designed for long-term investing. The company's vision is to increase the personal savings rate of the average American by helping people build and manage wealth over the long term. Customers pay low fees on individual transactions, have no account or investment minimums and can choose from three automatic, dollar-based investing programs.
In addition to its brokerage business, ShareBuilder Corporation owns and operates ShareBuilder 401(k), which provides simple, flexible and affordable 401(k) plans to small business owners (
www.sharebuilder401k.com).
ShareBuilder Securities Corporation, a subsidiary of ShareBuilder Corporation, is a registered broker-dealer and member FINRA/SIPC. ShareBuilder Advisors, LLC, a subsidiary of ShareBuilder Corporation, is a registered investment advisor.
Media Contact
Cathy MacFarlane
302.255.3577
mediarelations@ingdirect.com
Facebook
Twitter