SuperMoney 
  OpenInvest

OpenInvest

in Investment Advisors from OpenInvest

Unaffiliated

OpenInvest

Unaffiliated

in Investment Advisors from OpenInvest

Not enough votes for recommendation

Not enough votes for recommendation

Cast your vote
Cast your vote

Would you recommend OpenInvest to your friends?

Thanks for your vote!

Thanks for your vote!

You voted: May or may not recommend

Highlights
Highlights
Minimum Account $100
Management Fee 0.5% - 0.88%

OpenInvest Review

OpenInvest is founded in 2015 and based in San Francisco, CA.

What fees does OpenInvest charge?

OpenInvest uses a fee-only model.

This means OpenInvest gets paid a flat fee regardless of what financial products or services you use. It also means they have a fiduciary responsibility to their clients. Instead of making money on trades commissions or selling products, they recommend an asset allocation and get paid a flat-fee or a percentage of the assets under administration. That requires that they act in their client’s financial best interest at all times.

OpenInvest Fees
Description
Monthly Fee $0
Annual Fee $0
Management Fee 0.5% - 0.88%
Fee Based? Yes
Account Transfer Fee $0
Account Termination Fee $0
Investment Expense Ratios 0%

What management fees does OpenInvest charge?

OpenInvest charges an annual management fee that starts at 0.5% and ranges up to 0.88%.

Many financial advisors charge based on how much money they oversee by using a fee-structure called “assets under management,” or AUM. For instance, a 0.40% fee translates to $4 per year for every $1,000 an investment advisor manages. Management fees, also known as maintenance fees, cover the operating costs of investment advisors and are typically deducted from your account every month or quarter. The management fee does not cover the underlying expense ratios of the investment vehicles purchased by investment advisors.

What are the investment expense ratios of OpenInvest?

Hiring an investment advisor with competitive investment fees is one of the most important steps to maximizing your portfolio's performance. Investment expense ratios can vary drastically depending on the types of accounts and assets involved. A survey by the ICI puts the average expense ratio for actively managed funds at 0.76% and indexed funds at 0.08%. The investment expense ratios of an investment advisor will vary depending on the type of assets they invest in and whether they attach additional charges to fund fees.

OpenInvest charges an investment expense ratio that starts at 0% and ranges up to 0%.

What type of investment accounts and asset classes does OpenInvest support?

OpenInvest offers the following types of assets and account types.

Accounts Supported Options
Supported Options Unsupported Options
  • Individual Non-Retirement Accounts
  • Joint Non-Retirement Accounts
  • Roth IRA
  • Traditional IRA
  • Rollover IRA
  • SEP IRA
  • 529 College Savings Plans
  • Custodial Accounts
  • Trusts
  • Employer Sponsored Plans
  • OpenInvest does not offer any of the investment vehicles that we track.

    What is the minimum amount you have to invest to open an account with OpenInvest?

    The minimum amount to open an account with OpenInvest is 100.

    How does OpenInvest compare to other investment advisors?

    Pros & Cons of OpenInvest
    Pros Cons
  • Broad selection of account types.
  • Competitive investment expense ratios.
  • Does not offer low-cost ETFs.
  • Does not give access to human finance advisors.
  • Tax-loss harvesting not available.
  • Limited investment options.
  • SUPERMONEY Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...

    Contact

    • Headquarters
    •   235 Montgomery Street
      Suite 1120
      San Francisco, CA 94104 USA
    •   Visit Site

    About OpenInvest

    Feature Breakdown

    Account Termination Fee $0
    Account Transfer Fee $0
    Annual Fee $0
    Investment Expense Ratios 0%
    Monthly Fee $0
    Fee Based  
    Management Fee 0.5% - 0.88%
    Minimum Account $100
    Accounts Supported
    • 529 College Savings Plans
    • Custodial Accounts
    • Individual Non-Retirement Accounts
    • Joint Non-Retirement Accounts
    • Rollover IRA
    • Roth IRA
    • SEP IRA
    • Traditional IRA
    Automatic Rebalancing  
    Independent/Registered Investment Advisor  
    Software Managed  

    Be the first to rate

     

    Would you recommend OpenInvest to your friends?

    Before we publish your vote:

    Please explain your vote by sharing your experience.

    Writing a review increases the credibility of your vote and helps your fellow users make a better-informed decision.

    Please write a review to submit your vote
    Cancel my vote
    (will require moderator approval)

    Other Investment Advisors

    Betterment
    Mostly recommended

    5 Reviews

    Blooom
    Rating not yet determined In our efforts to provide the community with the most accurate information, recommendation rating is not determined until a sufficient number of SuperMoney users cast their vote

    1 Reviews