Setting up your brokerage account and paying for your retirement plan may seem quite challenging at times. It’s often not feasible to consult a financial advisor, although you may find it hard to tackle the situation. FutureAdvisor is a brand new site that comes with an efficient wealth management platform for you. Unlike all online wealth management tools that you come across, it doesn’t charge you with anything upfront.
All of your financial complexities can be addressed by this website once you link accounts that are attached to your wallet. Such complexities may arise out of your inability to identify funds that aren’t performing well or finding how much you’re bearing in terms of brokerage fees. By keeping an eye on your long-term investments and other associated transactions, this platform makes it easier for you to handle several things.
Why use FutureAdvisor?
All investment accounts that you possess can be linked with the wealth management tool provided by FutureAdvisor. Your time horizon and risk tolerance are a few important factors that you need to submit while registering with this website. You may also manually report investments or cash holdings to be evaluated, including your 401(k) accounts. This way, all your holdings may be considered by FutureAdvisor when generating your free personalized portfolio recommendations.
Their managed service includes tax-loss harvesting, automatic rebalancing, and access to a human financial advisor. They also assist with opening new accounts or transferring existing accounts, taxable or retirement, to one of their brokerage partners, Fidelity or TD Ameritrade. The best part is that your managed accounts always remain in your name and if you decide to cancel their service, they simply remove their ability to manage your accounts. No liquidating, no fees, no hassles.
What happens when you register with FutureAdvisor?
Your risk profile and your current investments are considered by FutureAdvisor who develops custom recommendations after you’ve registered with their service. Your portfolio is analyzed by this site after taking into consideration a few other factors like your other investments, risk tolerance, and age. When it’s time for you to pull things up to a new high, the site sends alerts based on your portfolio.
Most users of FutureAdvisor don’t need to stretch it any further. In case you require more guidance due to a complex portfolio, you may sign up for their plan that’s based on a fee.
FutureAdvisor monitors your portfolio 24×7, will automatically rebalance as markets fluctuate, and provides you access to a financial advisor. You may call your financial advisor as often as you like to discuss any concerns, monetary needs, performance, strategy, etc. They don’t charge anything for providing professional advice and they only charge 0.5% of all managed assets for investment management.
FutureAdvisor is certainly a better option when:
You choose automated harvesting of tax-loss without even $100K in your account. Such service is usually provided to accounts showing $100K or more.
You wish to balance your portfolio for all accounts instead of just those that are managed by the automated advisor. Only the managed accounts can be aggregated by Wealthfront. FutureAdvisor remains accountable for holdings in plans that are sponsored by the employee while balancing via accounts that are managed directly.
You Wish to DIY. You may avail of the FutureAdvisor services for free regardless of the balance that you have in your account. It will help you to execute trades that are suggested for you. The competitors of FutureAdvisor don’t allow their users to opt-out of their suggestions.
Regardless of whether the investors want the FutureAdvisor software to execute its suggestions on their behalf or they choose to execute it on their own, the software has some quality suggestions for all investors. FutureAdvisor empathizes with all investors that follow a predetermined budget. You must explore this option if you need simple execution and cost-effective investment advice.
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