11/23/2023 0 Comments Sig figNext, SigFig presents you with a recommended portfolio based on your goals, risk tolerance and time horizon. You can indicate your tolerance for risk from among five levels or take a four-question quiz to pinpoint how you feel about risk. ![]() Questions assess your investing time horizon (less than five years, five to 10 years, more than 10 years), age, household income, savings rate and total liquid assets. What’s notable about this is that the registration process leads users to SigFig’s free portfolio analysis tool, and from there, they can choose to have SigFig manage their account. Just sync up your accounts to SigFig, and the portfolio analysis tool will provide you with an automated review.Īs with most robo-advisors, potential SigFig users begin their journey by filling out a short questionnaire to help the platform understand their financial goals and risk tolerance. Investors with more complicated financial needs or who want more holistic financial planning might benefit, then, from platforms like Betterment or Personal Capital, which require their financial advisors to have CFP credentials.įinally, anyone can access SigFig’s free portfolio analysis tracker and get a second opinion on their asset allocation, portfolio diversification and fees. It’s important to note, though, that not all of SigFig’s advisors are certified financial planners ( CFPs), what many consider the gold standard in the financial planning industry. You can even schedule a free 15 minute consultation with a SigFig financial advisor before you sign up.Įither way, SigFig designs and manages a portfolio of low-fee, diversified exchange-traded funds ( ETFs) and gives you consultations with their staff of financial advisors. When you sign up, the platform simply opens an account for you at TD Ameritrade. ![]() If you are a new investor and don’t already have a brokerage account at one of these three firms, you can still use SigFig. At the very least, it’ll keep less of your holdings in cash than Schwab Intelligent Portfolios. ![]() What’s more, doing so may also work out to be cheaper than using those brokerages’ proprietary robo-advisor platforms. Grant SigFig access to your brokerage account, and the robo can manage some or all of your balance with no need to move your money out of your existing account. SigFig is also a good choice for established investors who already have an existing brokerage account at TD Ameritrade, Charles Schwab or Fidelity Investments and are considering automated management. For new investors, that puts it roughly on par with the likes of fee-free robo SoFi Automated Investing, without putting your money into less time-tested proprietary funds. Great tools and access to financial advisors-plus no annual management fees until your balance exceeds $10,000-all make SigFig a strong contender for novice investors. New investors who are able to meet SigFig’s $2,000 minimum balance requirement would do well to check out this robo-advisor.
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