Of all the investment apps, Acorns is great because it finds investment dollars for you. The Stash app is also full of educational content for people looking to understand what it means to invest and what all of the jargon actually means. Stash simplifies the process of selecting investments with an app suited for beginners. No affiliation or conflicts of interest here other than being impressed with their name choice. To be super clear, right off the bat, we are not Stash. And lower fees on the app means more money in your pocket (eventually). Although their offerings may not be as robust as some other brokerages, Robinhood has some of the lowest costs in the industry. The insane nostalgia the name “Robinhood” brings is second only to the commission-free stock, ETF, and options trades. There are plenty of other apps out there that help you to get started with investing if you decide to move forward with a robo-advisor, but these are the three we’re breaking down for you. Shall we?ĭisclaimer: we chose these three apps because they are the apps we are most frequently asked about, they’re in the top 5 in the app store, and they’ve been in the news a ton lately. We’ll get to the warnings a little later, but let’s start off on the right foot with the good that each of the top three investing apps bring to the table. In short, robo-advisors don’t really advise as much as they compute. A typical robo-advisor collects information from clients about their financial situation and future goals through an online survey, and then uses the data to offer advice and automatically invest client assets. You’ve probably heard the term “robo-advisor” thrown around a lot recently.Īccording to Investopedia (the financial Merriam Webster), robo-advisors are digital platforms that provide automated, algorithm-driven financial planning services with little to no human supervision. An investment app is a robo-advisor that customizes a portfolio for you based on your goals and risk. So, let’s start with what the hell an investment app is in the first place. We’re sharing our professional opinion on some of the most popular investing apps out there. And well played doing a little research before hopping on the bandwagon of whoever is #1 in the app store right now. But you know there are better options out there when you’re ready to step up.īut any kind of start is better than not starting, so nicely done. Technically, the dust is no longer present. Because, technically, your finances are being serviced with an app. Investment apps like Robinhood, Stash, and Acorns.īut first, let’s take a second to break down what we mean by financial services. And by low touch, we’re referring to investment apps. Given we’re a more high-touch financial services option for millennials, we thought we’d give you a lay of the land when it comes to a few of the low-touch financial services options.
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