Cash app investing is now a popular investment tool for investors.
And TD chief executive officer, Ian D’Ambrosio, says the app will be used to invest in “real assets that aren’t currently available in the real world”.
“It’s not about cash, it’s about real wealth,” Mr D’Amrosio said.
“Real wealth means real value.”
Mr D’ Amrosio says the company is looking at investing in real estate, “things that have been in the market for a long time, but haven’t been offered on the stock market”.
“We’re looking at putting our money into things that haven’t really been offered,” he said.
“We’re not going to be looking at buying stocks.”
He says the real value of the investment will be realised by the owners of the assets.
“We’ll make the investment, we’ll have the money to pay off the debt,” Mr Dunne said.
The TD is also looking to take advantage of a tax incentive that would be available to the public.
“In addition to the tax deduction we will be able to get a dividend tax break on the value of all our real estate investments,” Mr Duggan said.
TD has been using the cash app to invest for more than five years.
“The technology that is being used to do it is called TD App Invest, which is a digital app that we’re working with TD on,” he explained.
“And that’s the way we will invest in real property in the future.”
TD’s digital investment tools include a TD App for investors, TD Asset Management, TD Cash App and TD App Investments.
“Investing is the best thing in the world,” Mr Duncan said.