Category: Brokerage Reviews
An intriguing entrant to the robo-advisory arena is Acorns, an SEC Registered Investment Advisor. The idea behind this firm’s approach is to enable investors to “invest the change” (aka “acorns” or relatively small amounts of money) that will build over time into a sizable portfolio.
For many years, Schwab has offered wealth management services, including managed portfolios and custom advice. However, the more traditional model of delivering these services at the entry level has involved packaging a diversified portfolio of mutual funds and ETFs with a minimum investment of $25,000 and asset management fee of .90%.
The automated “intelligent portfolios” allow smaller investors to gain access to advisory services with no direct charges to their accounts. Learn more about these portfolios.
FutureAdvisor is a registered investment advisory firm, which offers portfolio management services.
The firm uses automated tools to analyze your portfolio compared to a model portfolio, and makes buy and sell recommendations to align your portfolio with its ideal. FutureAdvisor offers you the opportunity to connect with a real person to answer any questions.
The firm creates ETF-based portfolios and offers portfolio rebalancing and tax-loss harvesting services, like Betterment and Wealthfront. But at FutureAdvisor, you reveal your investment holdings in your IRAs, 401(k) plan, and taxable accounts, and the firm seeks to create a diversification plan across your various accounts whereas some robo advisors create a diversified portfolio only with the money you invest directly with that firm.