A brokerage account is an investment account that allows you to buy, sell and trade a variety of investment, such as stocks, bonds, mutual funds, ETFs, and more. Brokerage accounts can be opened with a wide variety of financial institutions, including banks, credit unions, online brokers, and more. Brokerage accounts offer investors the opportunity to grow their portfolio in a variety of ways.
To clarify, the elimination of mutual fund fees only applies to self-directed brokerage accounts. Ally also offers robo-advisory products, which are automated investment plans that provide investors with a diversified portfolio based on their risk tolerance, goals, and timeline.