SigFig is unlike robo-investors in that it works with partnering brokerage companies Charles Schwab, Fidelity and TD Ameritrade.
If you have existing funds with the first two brokerages, SigFig will manage your assets there.
Otherwise,SigFigwill open an account for you at TD Ameritrade.
What Is SigFig and How Does it Work?
SigFig is a robo investing platform partnering with third-party brokerage firms Charles Schwab, Fidelity, and TD Ameritrade.
Itll also continue to monitor and improve your portfolio by diversifying investments and automatically rebalance them.
This tracker wont actively manage all parts of your portfolio, only ones with partnering brokerages youve opted into.
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Otherfeaturesof the Portfolio Tracker include reporting dashboards, and analysis of external portfolios.
Once you exceed this amount, the annual advisory fee is 0.25% of your invested amount.
These usually range from 0.07% to 0.15%.
SigFig aims to get you the lowest expense ratios possible so you could keep more money towards your investments.
Portfolio Mix
SigFig helps investors with creating a diversified portfolio designed to help you reach your goals.
Did you know?
you could see this list on SigFigs website.
The asset allocations are based on your answers from the questionnaire SigFig provided when you opened your account.
The questions are designed to help to figure out your financial goals and risk tolerance.
Recommendations will change whenever you change your risk level or when you want to edit your asset allocation.
However, there are options if you still want the advice of human financial advisors.
Thats why SigFig offering unlimited financial counseling for all paid clients is a breath of fresh air.
Itll also analyze your existing portfolio to see what your current allocations are.
Itll also automatically rebalance your portfolio whenever it deviates from your target allocation.
This investment strategy helps you to minimize taxes by selling assets that have capital losses to offset gains made.
Is SigFig Right for You?
Plus, if you dont have $10,000 or more invested, youll pay even less.
The two main offerings of SigFigs business are its portfolio tracker and asset management services.
The management fees are low.
However, investors may not have as much flexibility, depending on the robo-advisor.
She is the host of the Buzzsprout and Beyond the Dollar podcasts.
Contributor Kent McDill contributed to this post.
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