Last Updated: 04/18/2025
SuperMoney User Recommendation Score +82
Strongly recommended22 total votes
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Highlights
Community Rating
Strongly recommended
Minimum Initial Investment
$100
Management Fee
0.5% - 0.88%
Number of Reviews
OpenInvest Investment Advisor Review
OpenInvest is founded in 2015 and based in San Francisco, CA.
OpenInvest Pros & Cons
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OpenInvest FAQ
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.
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| Monthly Maintenance Fee | $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Annual Fee | $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Management Fee | 0.5% - 0.88% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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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 does not charge fees based on an investment expense ratio. What type of investment accounts and asset classes does OpenInvest support?
OpenInvest offers the following types of assets and account types.
| Supported Options | Unsupported Options |
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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.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...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.
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Learn MoreSuperMoney Net Recommendation Score
SuperMoney users strongly recommend this product, giving it a user recommendation score of +82, or 4.6 on a 5-point rating scale.
+82
-1000+100
No one recommends
Everyone recommends
OpenInvest Investment Advisor Community Reviews
Would you recommend OpenInvest Investment Advisor to your friends?
JG
Jay G.
Oct 3, 2022
May or may not recommend
I'll be generous and say that now (2022) is not the right time to be dabbling the in stock market and looking for returns. After they lost $1300 of my investment within 3 months, I pulled the plug.
Hector D.
Jan 27, 2021
May or may not recommend
OpenInvest promotes socially responsible investing and that’s why they’re my investment advisors of choice. I appreciate the fact that you’re at liberty to create a fully diversified and customized portfolio that resonates with your values, instead of ordinarily plugging you into a preset. You also pay only 0.5% management fee for your portfolio which is a very competitive charge.
VG
Vito G.
Jan 17, 2021
May or may not recommend
A very useful automated tool. They provide great customer support and they have been quite helpful in advising me when I have questions about my holdings. The only downside is that they operate with standard hours. I have a busy schedule and 24 hour support would be useful for me.
SL
Stephanie L.
Dec 11, 2020
May or may not recommend
If you are looking to invest and be thoroughly happy at the same time, OpenInvest is for you. I have not had any bad experiences with them and truly, I am glad that a good friend of mine recommended them. Thank you!
DS
D S.
Dec 2, 2020
May or may not recommend
This is a great service. Simple to use, very reliable, and a good one for everyone to try. If you've been looking into this kind of service, I do recommend it as it's helped for a while now, and it's a wonderful investment service that you can rely on!
Aubree F.
Nov 27, 2020
May or may not recommend
OpenInvest has made investing so much easier. I have always been skeptical and cautious about the places I was putting my money, but OpenInvest helped me with that. It has low-fee services and handles my social responsible investing! I couldn’t be more relieved to have found OpenInvest.
Chioma D.
Nov 27, 2020
May or may not recommend
I have been using this OpenInvest Advisors since 2019 when it was introduced to me by a friend, so I hope I can give a different perspective. I was very happy about the service and management and developed a good relationship with the advisor.
DE
Daniel E.
Nov 6, 2020
May or may not recommend
There are no words to describe the impact of OpenInvest. It is a good option for those looking for a robo advisor with low fees but who want a little more control over their investments and where their dollars go. Thanks to their low fees and tax-loss harvesting, even if you are not worried about the social impact of your investments, OpenInvest may be a good option for your long-term ...Show More
Esther O.
Oct 28, 2020
May or may not recommend
Investment is a big deal for me, and I can only entrust my hard earned money to investment advisers or management firms that I trust. I trust OpenInvest Investment Advisor. Most importantly, I love that they are a fee-only investment firm; hence, their investment managers will not give you biased pieces of advise.
I will never work with an investment management team who sells products. Such investment managers are usually ...Show More
JJ
Joe J.
Oct 27, 2020
May or may not recommend
After counting several investment losses, I concluded that I was unlucky with investments until a friend at work introduced me to OpenInvest. Through them, I have been able to make better investment decisions and even recover my losses. I think I am stuck with OpenInvest for life. I am grateful to OpenInvest for saving me
AI
Azeez I.
Oct 25, 2020
May or may not recommend
I started with OpenInvest when I was looking for ways to manage my finance. At first, I thought they I was going to stick around with them for my long term investments. This was because they offer everything I wanted but their rate on investment is low compared to others investment advisors. I had to leave them for Acorns Invest though because Acorns provided me with better rates and lower ...Show More
SO
Samuel O.
Oct 24, 2020
May or may not recommend
There are no words to describe how excited I was about OpenInvest Investment Advisor. Assisting me do better with dollar investment, I didn't know how to go about investment till I found out about OpenInvest through a colleague. I strongly recommend this Investment Advisors. Thank you guys, You just acquired a loyal fan.
PC
Prodigee C.
Oct 23, 2020
May or may not recommend
I like the fact that they offer inexpensive options to invest for social cause. They’re a good way to go if long term is your thing. However, you’re likely to get lower returns on investment. You can’t expect so much if you tie your investments to values. They give a stellar customer experience, though.
PB
Paul B.
Oct 22, 2020
May or may not recommend
Thinking of making the right decision with your dollars then Openinvest is the right choice.. I was amazed with the planning and support I receive.
I decided not to leave a quick feedback to see the outcome of my Investment but I must applaud the follow up from the team..
They did a Great job and I recommend them..
Thank you once again. I will do this again
KD
Kevin D.
Oct 22, 2020
May or may not recommend
I was thinking of how to invest my money with the right investment platform because I have add ill luck with so many other ones I have used. OpenInvest was recommended to me. I contacted them to know how I will go about investing my money, they gave me some guidelines that I followed. Investing with OpenInvest really worth it. I recommend OpenInvest
AB
Austin B.
Oct 19, 2020
May or may not recommend
I have always been bad with money. Investing made me confused, and I had no idea how it actually worked. I never thought a company could change my money habits the way OpenInvest did. It completely opened my eyes to the world of investing, and showed me how to become a real investor! OpenInvest treated me with kindness and helped my understand the investment process. I highly recommend it!
Adewale A.
Oct 15, 2020
May or may not recommend
I never thought of saving my $ in the way I did last year with OpenInvest. Yes, I'm this kind of person that has no control when it comes to spending, but thanks to my friend who introduced me to this investment thingy that could still be increasing my money while saving is something worth acknowledging.
I will recommend OpenInvest.
OO
Opeyemi O.
Oct 8, 2020
May or may not recommend
In 2018 I had some huge amount of money. I was looking for a robo advisor to help make decisions about investments; luckily for me, OpenInvest has been able to do that successfully. You can keep track of your investment with your phone. They only charged me 0.5% of the money I staked. With this, I was shielded a little bit from tax. When I made my withdrawal, no tax ...Show More
HB
Helen B.
Oct 3, 2020
May or may not recommend
Investing my money to get profits has caused severe headaches for me not until I got to know about OpenInvest. The response of their personnel was top notch and user friendly.
She gave me wonderful suggestions that has really helped me out in making smart decisions. I strongly recommend OpenInvest.
Zara B.
Oct 2, 2020
May or may not recommend
I had the pleasure of working with OpenInvest. They are professionals and answered all my questions at all hours of the day. I was extremely satisfied with the entire process at OpenInvest. I wasn’t looking for business capital but allowed them the opportunity to present numbers. After speaking with my wife we realized the numbers gave us a great opportunity to expand our business.
Showing 20 of 22 reviews
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