Investment Apps Recommended by Financial Experts

Managing your personal finance and knowing the right time and place to invest isn’t something that comes naturally for all of us; this is why financial advisors are such important part of our lives. However in the fast paced and extremely busy lives most of us lead these days, keeping up with financial advisors’ appointments may be hard to do.

Technology has made things so much better. We now have modern banking apps and automated portfolio management services referred to as robo advisors that allows for many of us to be more in charge of our finances by making investing much easier and fun. The services offered by these apps are so many ranging from investing in ETFs, reinvesting dividends and even harvesting tax losses.

These robo advisors are increasingly gaining grounds. BI Intelligence, Business Insider’s premium research service projected that these robo advisors will be in charge of 10% of all global assets under management by 2020.

One of the major attractions of robo advisors is its relatively cheap cost in comparison to the charges of a traditional financial advisor. With its recent popularity, there are quite a number of entrants in the industry. The following are the ones that we consider the best based on users’ testimonials and services offered.

Betterment:With over 7 billion dollars of total asset under management, Betterment is one of the pioneers in the industry and it presents a platform that is both easy to use and boasts of assortment of innovative features. With a customized platform based on responses given to questionnaires, betterment makes use of passive investing and there is no minimum balance needed. You may access your account and check your investment portfolio on the go through the use of your mobile device.

Very similar to the Betterment platform is the Wealth Front app which is equally very large.

Schwab Intelligent Portfolios:This is particularly attractive because of its ‘no commission’ policy. Schwab offers different types of investment account such as IRAs, 401k, 401(k) rollover, retirement and trust accounts.

However the minimum balance required to open an account is $5000. You will have access to a customized platform that helps to keep you focused on your goals based on answers you give to the questionnaires.

Personal Capital: The major selling point of this app is that non registered users can use the app and even keep track of their investments. It offers a wide range of services in comparison to other robo advisor apps. It is important to mention to that users have to have a minimum balance of $25,000 to access the services offered.

There are other good ones that you can check out depending on your investment needs.