WiseBanyan Review

WiseBanyan Review 2018 | Is This Robo-Advisor Really Free?

Company Overview: WiseBanyan

Wise Banyan says it is the first fee-free financial advisor. WiseBanyan began with the belief that investing is a right – not a privilege. Its mission is to ensure everyone can achieve their financial goals, which starts by providing access to professional financial services the minute they earn their first dollar. WiseBanyan is focused on building its client base, not its asset base. That helps Wise Banyan treat all customers equally, whether they have $10 or $10 million.

Wise Banyan Overview

WiseBanyan offers attractive rates and terms compared with other top online robo-advisors:

Account Minimum: $0

Commission: $0

Portfolio Mix: Portfolio of low-cost, diversified ETFs from 9 asset classes

Account Types: Supports personal brokerage accounts, joint brokerage accounts, traditional IRAs, rollover IRAs, Roth IRAs or SEP IRAs.

Portfolio Rebalancing: Yes

Account Fees: $75 to transfer a brokerage account to another robo-advisor or online broker;$95 to transfer IRA to another robo-advisor or other online broker

How WiseBanyan Compares: Key Benefits Of Wise Banyan

Here are some of the reasons that investors love WiseBanyan:

  • Automated: Wise Banyan is a robo-advisor and therefore does all the investment work for you. You don’t have to manage your investments. WiseBanyan does all the heavy lifting using technology.
  • No Fees: WiseBanyan is a fee-free financial advisor. That means it is free for WiseBanyan to manage your money.
  • Portfolio: WiseBanyan a portfolio of 9 ETFs that are low cost and diversified.
  • Customer Support: WiseBanyan offers live phone support Monday-Friday.

Bottom Line: Is WiseBanyan right for you?

Wise Banyanhas a top reputation as a robo-advisor and is fee-free.That means that you don’t have to pay to invest on Wise Banyan’s platform or to gain access to WiseBanyan’s financial advice. The other best feature of WiseBanyan’s platform is its no fees for automatic rebalancing. Wise Banyan does charge for optional services such as tax loss harvesting, for example.

WiseBanyan invests in a diversified mix of 9 diversified ETFs that range from U.S. stocks and real estate to foreign stocks and dividend stocks.

So if you want your money managed for free, WiseBanyan is a top choice. If tax loss harvesting, then you can either pay a nominal amount for the service (which is called WiseHarvesting) or choose another robo-advisor.

Next Steps: How To Apply To WiseBanyan

You can open a Wise Banyan account online within a few minutes, and the process is simple.


The Best Robo-Advisors 2018

Robo-Advisor
Annual Fee

Overview

Account Minimum:$0

Details

  • Supports personal brokerage accounts, joint brokerage accounts, traditional IRAs, Roth IRAs, SEP IRAs and trusts
  • Portfolio of low-cost, diversified ETFs from 16 asset classes
  • Free automatic portfolio rebalancing
  • Free tax loss harvesting
  • Customer support: M-F 8 a.m. – 8 p.m. EST; email 24/7

Overview

Account Minimum:$0

Details

  • Supports personal brokerage accounts, joint brokerage accounts, traditional IRAs, rollover IRAs, Roth IRAs, SEP IRAs and trusts
  • Portfolio of low-cost, diversified ETFs from 12 asset classes
  • Free automatic portfolio rebalancing
  • Free tax loss harvesting
  • Customer support: 7 days a week
  • Unlimited access to licensed financial advisors

Overview

Account Minimum:$500

Details

  • Supports personal brokerage accounts, joint brokerage accounts, traditional IRAs, rollover IRAs, Roth IRAs, SEP IRAs and trusts
  • Portfolio of low-cost, diversified ETFs from 11 asset classes
  • Free automatic portfolio rebalancing
  • Free tax loss harvesting
  • Unlimited access to licensed financial advisors

Overview

Account Minimum:$0

Details

  • Supports personal brokerage accounts, traditional IRAs, rollover IRAs, Roth IRAs, SEP IRAs and trusts
  • Portfolio of low-cost, diversified ETFs from 9 asset classes
  • Free automatic portfolio rebalancing
  • Customer service: M-F 11 a.m. – 7 p.m. eastern

Overview

Account Minimum:$5,000

Details

  • Supports personal brokerage accounts, joint brokerage accounts, traditional IRAs, rollover IRAs, Roth IRAs, SEP IRAs and trusts
  • Portfolio of low-cost, diversified ETFs from 20 asset classes
  • Free automatic portfolio rebalancing
  • Free tax loss harvesting for accounts with a minimum $50,000 balance
  • Free access to licensed financial advisors
  • 24/7 customer support

Overview

Account Minimum:$50,000

Details

  • Supports personal brokerage accounts, joint brokerage accounts, traditional IRAs, rollover IRAs, Roth IRAs, SEP IRAs and trusts
  • Portfolios are individualized and incorporate Vanguard index funds and ETFs, if needed
  • Free automatic portfolio rebalancing
  • Free tax loss harvesting on client-by-client basis
  • Access to licensed financial advisors
  • 24/7 customer support

Overview

Account Minimum:$100,000

Details

  • Supports personal brokerage accounts, joint brokerage accounts, traditional IRAs, Roth IRAs, SEP IRAs and trusts
  • Portfolio of low-cost, diversified ETFs
  • Free automatic portfolio rebalancing
  • Free tax loss harvesting
  • Access to financial advisors

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WiseBanyan Review
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