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WiseBanyan is a free "robo financial advisor" with NO fees and a $20 sign up bonus. Another $40 for spouse!!

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www.wisebanyan.com is the first financial advisor to not charge management, trading, or rebalancing fees. Through the use of technology, we can offer the same services as a traditional advisor and pass the savings to you in the form of free. I made 18.97% last year and everything was automatic. The ETF's they use have fees of less than .70% depending which one(s) you have. Think their lowest is like .03%. To receive the $20 sign up bonus you need to receive an invite from a current client. There are no minimums or requirements and clients at cash out anytime, again, with NO fees! Of the (think) 6-8 robo advisors they have some really good reviews. Hope it helps.

Reviews of most robo advisors; https://www.nerdwallet.com/blog/investing/best-robo-advisors/ 
 

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That's an odd list they have. Many are non-US, some of the US ones I've never heard of, and they don't list Wealthfront ... (more)

billrubin (Mar. 15, 2017 @ 9:14a) |

The list is a bit strange, but lets one vote for WB which is the reason I posted it.

stateofmind (Mar. 17, 2017 @ 2:52p) |

Could you make your shilling any more obvious?

devyanks90 (Mar. 17, 2017 @ 10:33p) |

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Here is a review from NerdWallet: https://www.nerdwallet.com/blog/investing/wisebanyan-review/

Sorry for the noob question, but do you have to transfer all of your investable assets to these robo-advisers or can you keep them with the brokerages that you currently have?

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samko said:    do you have to transfer all of your investable assets to these robo-advisers or can you keep them with the brokerages that you currently have?
You don't have to transfer *all*, but you can transfer *some*.
A brokerage you currently have would charge you a trading fee on each transaction, rendering their rebalancing services kinda expensive.

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samko said:   Here is a review from NerdWallet: https://www.nerdwallet.com/blog/investing/wisebanyan-review/ 

Sorry for the noob question, but do you have to transfer all of your investable assets to these robo-advisers or can you keep them with the brokerages that you currently have?
 

  You don't need to transfer anything. Just open a new account.

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Do they let you pick from funds to invest in/do they let you refuse to buy certain funds? Alternatively, do they let you tell them what securities you own in accounts not with them so that their tax loss harvesting and automatic rebalancing don't screw things up?

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marginoferror said:   Do they let you pick from funds to invest in/do they let you refuse to buy certain funds? Alternatively, do they let you tell them what securities you own in accounts not with them so that their tax loss harvesting and automatic rebalancing don't screw things up?
 

  https://wisebanyan.com/investment-strategy
 

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JavaCoder said:   
samko said:    do you have to transfer all of your investable assets to these robo-advisers or can you keep them with the brokerages that you currently have?
You don't have to transfer *all*, but you can transfer *some*.
A brokerage you currently have would charge you a trading fee on each transaction, rendering their rebalancing services kinda expensive.

  Vanguard charges no commissions when you trade their ETFs. 

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stateofmind said:   
marginoferror said:   Do they let you pick from funds to invest in/do they let you refuse to buy certain funds? Alternatively, do they let you tell them what securities you own in accounts not with them so that their tax loss harvesting and automatic rebalancing don't screw things up?
  https://wisebanyan.com/investment-strategy

  Thanks, saw that, but they don't seem to indicate whether you get to see all potential funds that will be part of the portfolio. Betterment lets you at least see that (I believe).

Not saying wisebanyan is bad, I don't have any other way of comparing these types of funds, so it's hard to choose who to go with, except looking at the aspects that aren't related to how they decide what/when to buy (not that I would be able to understand it if they told me anyway).

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marginoferror said:   Do they let you pick from funds to invest in/do they let you refuse to buy certain funds? Alternatively, do they let you tell them what securities you own in accounts not with them so that their tax loss harvesting and automatic rebalancing don't screw things up?
Their FAQ seems to list all the ETFs they use: https://wisebanyan.com/faq/investment-overview/wisebanyan-investment-selection 

I'm not sure whether they let you refuse to buy certain funds or tell them what you own in outside accounts; I'm guessing not.  Edit: their FAQ implies the answer is no: "WiseHarvesting works best when all of your accounts are with WiseBanyan (this helps prevent something called wash sales). ... we unfortunately are not able to see the securities in your outside accounts".

Side note: the font on their website, especially in the FAQ, is really hard to read; it gives me a bad first impression.

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Note that for their automated tax-loss harvesting (WiseHarvesting), they charge a fee: "0.25% of taxable assets charged monthly, capped at $20 a month".

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   Vanguard charges no commissions when you trade their ETFs. 
  Neither does Wise Banyan.

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stateofmind said:   
   Vanguard charges no commissions when you trade their ETFs. 
  Neither does Wise Banyan.

  They don't charge money to tax-loss harvest.

.Vanguard also doesn't charge wire fees.

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stanolshefski said:   
stateofmind said:   
   Vanguard charges no commissions when you trade their ETFs. 
  Neither does Wise Banyan.

  They don't charge money to tax-loss harvest.

.Vanguard also doesn't charge wire fees.

  who doesn't charge?
Vanguard doesn't have a free robo-advisor with tax-loss harvesting right? Or are you saying their paid robo-advisor includes tax-loss at no additional charge?

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walletfart said:   
stanolshefski said:   
stateofmind said:   
   Vanguard charges no commissions when you trade their ETFs. 
  Neither does Wise Banyan.

  They don't charge money to tax-loss harvest.

.Vanguard also doesn't charge wire fees.

  who doesn't charge?
Vanguard doesn't have a free robo-advisor with tax-loss harvesting right? Or are you saying their paid robo-advisor includes tax-loss at no additional charge?

  Do you really believe that robo-advisors add value? I don't.

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stanolshefski said:   
walletfart said:   
stanolshefski said:   
stateofmind said:   
   Vanguard charges no commissions when you trade their ETFs. 
  Neither does Wise Banyan.

  They don't charge money to tax-loss harvest.

.Vanguard also doesn't charge wire fees.

  who doesn't charge?
Vanguard doesn't have a free robo-advisor with tax-loss harvesting right? Or are you saying their paid robo-advisor includes tax-loss at no additional charge?

  Do you really believe that robo-advisors add value? I don't.

in some ways yes, and depending how much money you have invested for the fees.
I think this is going to eventually be a commodity product though and all the brokerages will offer it nearly free. It is just some simple software at the end of the day (allocation %, rotate among a few ETFs to harvest losses, auto-rebalance into low-cost funds).

FutureAdvisor manages your Fidelity-based 401k for free which is nice.

To me it's about time-value. Figure out how much the fees will be, and determine if your time to rebalance every couple of months, and tax-loss harvest yourself is worth that.

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my wisebanyan investments are up 11% since i stated in 2015 and this is with no work

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It helps when we're in a bull market

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I had an account with them a year or two ago along with Betterment. Both work mostly the same way, given a Target risk (stock/bond %) they put your investments in 5-10 different ETFs from their list. You don't get to choose which ones and what percentage in each. WiseBanyan charges no fees, Betterment charges .35% and down depending on your assets with them.
For tax loss harvesting they have alternate ETFs for each on their list that they flip flop your investments between to generate losses.

The main benefit for someone like me starting with a $0 portfolio is being able to have fractional ETF shares. I could put $100/month in and it would be evenly divided among the 5-10 ETFs in the list with no cash left over. I can't buy a single share of VTI for that so its a quick way into the market.
The drawback is now I have 5-10 ETFs when I really just wanted a 2 or 3 fund portfolio. In the first year it made taxes annoying trying to fill out the forms with the pennies in capital gains/losses on all the ETFs that my tax software kept rounding to zero. You don't get to choose exactly when in the day your investments are made either so even though your portfolio is all ETFs the system works more like having mutual funds.

I ended up closing both accounts and opening a Schwab account. Their index mutual funds have low minimums ($100) and low expenses so I now have a 2 fund portfolio (at the moment) that I can put a flat amount of cash into each month and have it all invested.

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plastrd said:   I had an account with them a year or two ago along with Betterment. Both work mostly the same way, given a Target risk (stock/bond %) they put your investments in 5-10 different ETFs from their list. You don't get to choose which ones and what percentage in each. WiseBanyan charges no fees, Betterment charges .35% and down depending on your assets with them.
For tax loss harvesting they have alternate ETFs for each on their list that they flip flop your investments between to generate losses.

The main benefit for someone like me starting with a $0 portfolio is being able to have fractional ETF shares. I could put $100/month in and it would be evenly divided among the 5-10 ETFs in the list with no cash left over. I can't buy a single share of VTI for that so its a quick way into the market.
The drawback is now I have 5-10 ETFs when I really just wanted a 2 or 3 fund portfolio. In the first year it made taxes annoying trying to fill out the forms with the pennies in capital gains/losses on all the ETFs that my tax software kept rounding to zero. You don't get to choose exactly when in the day your investments are made either so even though your portfolio is all ETFs the system works more like having mutual funds.

I ended up closing both accounts and opening a Schwab account. Their index mutual funds have low minimums ($100) and low expenses so I now have a 2 fund portfolio (at the moment) that I can put a flat amount of cash into each month and have it all invested.

  I tried Betterment and the issue with lots of very small lots was a pain at tax time. 

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I have a WiseBanyan account - never tried Betterment. I kept on reading things that Betterment would charge you $1,000 if you wanted to transfer your funds.

The small tax lots are there, but it makes it easy for me. I'm a long term Bogle Heads reader, and being able to put $100 per week into my WiseBanyan account and have it fully invested is awesome. They have also improved a huge amount over the last year - features like being able to designate a tax year for your IRA and see the status of deposits make it all very easy. In addition, I am a long term investor so there are not really any realized gains year to year. WiseBanyan prepares an 8949 for me, and it's all laid out cleanly.

Yeah, definitely helps that we're in a bull market. But anybody who thinks you can time the market is just a moron. The way to go is passive investing, WiseBanyan makes it easy for me. Even got my girlfriend to start using it.

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michaelrichardson20 said:   I have a WiseBanyan account - never tried Betterment. I kept on reading things that Betterment would charge you $1,000 if you wanted to transfer your funds.

The small tax lots are there, but it makes it easy for me. I'm a long term Bogle Heads reader, and being able to put $100 per week into my WiseBanyan account and have it fully invested is awesome. They have also improved a huge amount over the last year - features like being able to designate a tax year for your IRA and see the status of deposits make it all very easy. In addition, I am a long term investor so there are not really any realized gains year to year. WiseBanyan prepares an 8949 for me, and it's all laid out cleanly.

Yeah, definitely helps that we're in a bull market. But anybody who thinks you can time the market is just a moron. The way to go is passive investing, WiseBanyan makes it easy for me. Even got my girlfriend to start using it.

You sound like their rep.

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stanolshefski said:     I tried Betterment and the issue with lots of very small lots was a pain at tax time. 
 

Why? Do you do your taxes by hand? You should just be able to import all of that stuff from them. I imported from Wealthfront and all their selling and buying didn't bother me since I didn't have to enter any of it. I assume Betterment has the same capability.

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KublaKhan said:   It helps when we're in a bull market
 

  Just change your allocation to more/all cash/bonds in a bear market.

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edit: Thanks I signed up

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Forgot-after you open your account, then refer your spouse for another $40!

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stateofmind said:   
KublaKhan said:   It helps when we're in a bull market
  Just change your allocation to more/all cash/bonds in a bear market.

Decide on your comfort with risk, stick to your allocation & never look back.  Trying to time the market and juggle bonds to stocks and back is a recipe to buy when the asset is expensive and sell when it's cheap.

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Evilmagus said:   
stateofmind said:   
KublaKhan said:   It helps when we're in a bull market
  Just change your allocation to more/all cash/bonds in a bear market.

Decide on your comfort with risk, stick to your allocation & never look back.  Trying to time the market and juggle bonds to stocks and back is a recipe to buy when the asset is expensive and sell when it's cheap.
 

  I having using Vector Vest for 12 years for timing the market and it has worked out better than expected. Think around 90% correct market timing buy/sell signals.

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Here is a list of robo-advisors. You can even cast a vote for the best;

http://benzingafintechawards.com/votes/best-robo-advisor

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manuvns said:   my wisebanyan investments are up 11% since i stated in 2015 and this is with no work
  
but if you compare to the S&P for the same timeframe, you are down couple %.  Wouldn't you have done better with just a plain vanguard (or other low cost ETF) S&P500 fund?   Or are you trying to be sector specific?

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Do they post their past annual return? I'm assuming not - as most do not. Would be nice to see actual return based on some sample age/risk. Or at least some simulated past return if you ... based on what you picked.

Only one i know of that showed past return is Schwap - with one of their managed funds ... but that one has 1% mgmt fee.

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prozario said:   Do they post their past annual return? I'm assuming not - as most do not. Would be nice to see actual return based on some sample age/risk. Or at least some simulated past return if you ... based on what you picked.

Only one i know of that showed past return is Schwap - with one of their managed funds ... but that one has 1% mgmt fee.

  You can check their past performance (most robo-advisors do post their past performance-think its SEC required!) here. Just click any of their ETF links;
https://wisebanyan.com/faq/investment-overview/wisebanyan-invest...

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prozario said:   Do they post their past annual return? I'm assuming not - as most do not. Would be nice to see actual return based on some sample age/risk. Or at least some simulated past return if you ... based on what you picked.

Only one i know of that showed past return is Schwap - with one of their managed funds ... but that one has 1% mgmt fee.

You're comparing apples and oranges. Of course a fund would document their past returns, that is required. 

Condor Capital has compiled a report on relative performance of different Robo firms (with the exception of Wealthfront, who closed their accounts). You can request it here -- https://www.condorcapital.com/our-firm/robo-report/. You do need to give them your email address but I have yet to be sent anything other than the report from them.

Wisebanyan isn't in the top 3, although their returns aren't bad.

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billrubin said:   
prozario said:   Do they post their past annual return? I'm assuming not - as most do not. Would be nice to see actual return based on some sample age/risk. Or at least some simulated past return if you ... based on what you picked.

Only one i know of that showed past return is Schwap - with one of their managed funds ... but that one has 1% mgmt fee.

You're comparing apples and oranges. Of course a fund would document their past returns, that is required. 

Condor Capital has compiled a report on relative performance of different Robo firms (with the exception of Wealthfront, who closed their accounts). You can request it here -- https://www.condorcapital.com/our-firm/robo-report/. You do need to give them your email address but I have yet to be sent anything other than the report from them.

Wisebanyan isn't in the top 3, although their returns aren't bad.

  
i'm not talking about schwab funds - they've certain "robo" like  accounts ... except they're done by humans.  That is earlier version - charges about 1% fee.   They've few models that you gets assigned based on your risk tolerance.   They're two tracks - one made up of ETF, the other made up of mutual funds.   For those they show you returns of their models.

 

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stateofmind said:   Here is a list of robo-advisors. You can even cast a vote for the best;

http://benzingafintechawards.com/votes/best-robo-advisor

That's an odd list they have. Many are non-US, some of the US ones I've never heard of, and they don't list Wealthfront and probably others.

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billrubin said:   
stateofmind said:   Here is a list of robo-advisors. You can even cast a vote for the best;

http://benzingafintechawards.com/votes/best-robo-advisor

That's an odd list they have. Many are non-US, some of the US ones I've never heard of, and they don't ist Wealthfront and probably others.

   The list is a bit strange, but lets one vote for WB which is the reason I posted it.  

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stateofmind said:   
billrubin said:   
stateofmind said:   Here is a list of robo-advisors. You can even cast a vote for the best;

http://benzingafintechawards.com/votes/best-robo-advisor

That's an odd list they have. Many are non-US, some of the US ones I've never heard of, and they don't ist Wealthfront and probably others.

   The list is a bit strange, but lets one vote for WB which is the reason I posted it.  

  Could you make your shilling any more obvious? 

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