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WiseBanyan iOS App: Invest for FREE ($0 Advisory Fees)

swimgeek 54 26 January 14, 2016 at 04:42 AM in Accounting Software (5) More Apple iTunes Deals
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Last Edited by swimgeek January 15, 2016 at 06:39 AM
Wisebanyan has just released their iOS app [apple.com] that allows you to invest for FREE ($0 advisory fees).

Types of accounts offered are:
  • Personal Investment Accounts
  • Roth IRAs
  • Traditional IRAs and
  • SEP-IRAs.
You can also rollover or transfer outside accounts, including old 401(k)s and 403(b)s. There is no minimum amount to start investing. It's considered a competitor to Betterment and Wealthfront, except they don't charge you the 0.25% - 0.50% advisory fee that the other two do. The only thing that you would pay for (if you opted in) is Tax Loss Harvesting on taxable accounts. Basic investing, rebalancing etc. is free. Here's the complete fee schedule: https://wisebanyan.com/assets/doc...hedule.pdf


There is a wait list to get an active account but if you want to skip the wait list, PM me and I will send you a Founding Member invite to skip the wait list.

Cheers
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Joined Oct 2003 L2: Beginner
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13 Comments

1

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#2
Thanks, OP! I didn't know they had the IRA option. Bye, bye Scottrade!
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Joined Oct 2009
If It's Free, It's for Me
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#3
Nice! Hope to see an android app soon.
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Joined Oct 2007
Looking for $$$$$$sssss..
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#4
So is this Robinhood competitor?
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Joined Oct 2003
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#5
Quote from DealzSlickz View Post :
So is this Robinhood competitor?
It's considered a competitor to betterment and wealthfront, except they don't charge you the 0.25% - 0.50% fee that the other two do. The only thing that you would pay for (if you opted in) is Tax Loss Harvesting on taxable accounts. Basic investing, rebalancing etc. is free.

Here's the complete fee schedule: https://wisebanyan.com/assets/doc...hedule.pdf
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#6
Quote from DealzSlickz View Post :
So is this Robinhood competitor?
No, they are different.
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#7
wisebanyan has lost me 7% of my money over the last several months. I know it's a crappy market, but still....
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#8
This will be perfect to help me invest my powerball winnings!
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Joined Feb 2012
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#9
Quote from d_wave27 View Post :
wisebanyan has lost me 7% of my money over the last several months. I know it's a crappy market, but still....
be lucky its only 7% with the current market
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#10
FYI: one of the ways they make their money is high fees if you were to take your money out. I put in $10 to test it out, but I think it costs $20 to sell my holdings and withdraw my money.
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#11
Quote from d_wave27 View Post :
wisebanyan has lost me 7% of my money over the last several months. I know it's a crappy market, but still....
My work has lost me 10%
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#12
I have robinhood account.. What should I get "in addition" if I sign up for this one ?
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#13
Quote from Kyle-AS View Post :
My work has lost me 10%
I guess I should be happy. my robinhood is down 24%
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#14
Quote from d_wave27 View Post :
wisebanyan has lost me 7% of my money over the last several months. I know it's a crappy market, but still....
But what?
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