After you fund your account, Smart Advisor creates and manages a custom portfolio based on your risk tolerance and financial goals. If you have children younger than 18, you can open a custodial investment account on their behalf.įor hands-off investors, the Smart Advisor option offers a robo-advisor account. You can choose between a taxable investment account or a tax-advantaged individual retirement account ( IRA)-either a traditional IRA or a Roth IRA. From there, you can add more money if you wish, or you can schedule automatic, recurring deposits. The investing service allows you to buy stocks, exchange-traded funds ( ETFs) and crypto, starting with a $5 minimum investment. A two-tiered monthly management fee gives you access to both services, and you maintain separate balances with each service. Stash offers two main features: investing and banking. Consider an online savings account if you want an app to stash your cash with a high APY. People looking to grow as self-directed investors should check out an online brokerage account. If you’re looking for a more comprehensive service, you can probably get a better deal by choosing a dedicated robo-advisor platform. Moreover, the bank account does not offer an annual percentage yield ( APY), making it a poor option for savings. Stash charges flat monthly subscription fees, and while they only amount to a few dollars a month they’re still quite expensive relative to other options available, especially for smaller portfolio balances. However, all this convenience comes with a relatively high price tag. More hands-on investors can design their own investment portfolios, and limited cryptocurrency assets are also available. Stash’s robo-advisor functionality provides a managed portfolio tailored to your risk tolerance and goals, where the platform selects investment assets and manages them for you. For example, you can gradually fund your investment by rounding up purchases to the nearest dollar using a Stash debit card, depositing the rounded amount in the app’s brokerage account. Users get an investment account and an online bank account with Stash, helping them to coordinate their financial goals. The easy-to-use platform gives new investors a convenient way of managing all of their money via a single mobile app. See additional risk disclosures here.Stash is a good choice for people who are just starting to learn about saving and investing. Hyperlinks to third-party content are intended to provide additional perspective and should not be construed as an endorsement of any services, products, guidance, individuals or points of view outside. Any examples are hypothetical and for illustrative purposes only. While we believe the information presented here to be accurate, we do not guarantee its accuracy or completeness. Past performance, historical returns, future projections, and statistical forecasts are no guarantee of future returns or future performance. Investing in securities involves risks, and there is always the potential of losing money when you invest in securities. Your assets are custodied by Drivewealth, LLC, not Step, and is insured by the Securities Investor Protection Corporation (SIPC), up to $500,000 (including $250,000 for claims for cash). C): Securities (stock and ETF) services powered by Drivewealth, LLC. The information presented herein is for educational purposes only and does not constitute investment advice or an offer to buy or sell any security, investment or other product. We do not manage client funds or hold custody of assets. We provide investment advisory services by making non-discretionary recommendations on a client's investment outlook. Investment accounts are held by DriveWealth, LLC, a member of the Financial Industry Regulatory Authority (FINRA). A): Investment Products: May lose value | Not FDIC Insured B): Investing and advisory services for the purchasing and selling of stocks (including certain ETFs) are provided by Step Advisers LLC, a SEC-Registered Investment Adviser (“Step Advisers“).
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