With Wealthsimple, your account is invested in a diversified portfolio of ETFs that focus on low-cost index funds. The app includes automatic rebalancing, dividend reinvesting and tax-loss harvesting.
In addition, they offer financial advisors to answer any questions you may have and they have no account minimums. Learn more here.
M1 Finance is a unique combination of robo advisor and traditional investment brokerage firm. They work with what they refer to as a “pie” to build and manage your portfolio. Select your investments, determine what percentage of your money goes where, and let M1 take care of the rest.
What’s great about the pie visual is that you can easily see which parts of your portfolio are growing or shrinking and M1 will automatically try to bring investments back to target. However you still have control over exactly what you’d like to invest in and they offer customizable templates based on goals and risk tolerance. Learn more here.
Blooom is an app dedicated to managing your 401k online in a simple, affordable way—focused on providing investment information to people with all levels of income.
They optimize your account by matching you to funds that align with your financial goals, while also providing low fees. And if you stick them with for the long haul, they’ll rebalance your account as retirement nears. Learn more here.
Micro-saving apps have gained popularity recently as they’ve made investing accessible to everyone, providing resources and education regardless of income.
Acorns allows you to invest your spare change automatically by connecting your cell phone to your bank accounts and credit cards. To create a portfolio, you simply fill in your financial situation and goals and then Acorns will recommend a mix of ETFs that will become your portfolio. You also have the option to set scheduled investment deposits – daily, weekly or monthly. Learn more here.
This investing app is unique in that it allows users to invest in bonds with secured 5% returns. Each bond costs just $10 and Worthy then invests all bond sale proceeds into fully secured, asset-backed small business loans. The collateral far exceeds amount of loans, making this option a nice fixed-income diversifier for any portfolio. In addition to offering a secured 5% return, their bonds are liquid, meaning they can be cashed in at any time with no fees or penalties, comparable to a higher-yielding money market. Learn more here.