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FutureAdvisor

FutureAdvisor

 4.0/5 (262 ratings)
  • 5 stars
    83
  • 4 stars
    111
  • 3 stars
    58
  • 2 stars
    10
  • 1 stars
    0
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About FutureAdvisor

This profile has not been claimed by the company. See reviews below to learn more or submit your own review.

FutureAdvisor is an investment app from BlackRock that fully manages traditional IRAs, Roth IRAs, rollover IRAs and individual and joint taxable accounts. The company holds your investments in a Fidelity or TD Ameritrade account. FutureAdvisor also provides educational materials for new or learning investors.

Overall Satisfaction Rating

  • 5 stars
    83
  • 4 stars
    111
  • 3 stars
    58
  • 2 stars
    10
  • 1 stars
    0

Pros

  • Full investment management
  • Free tools and guidance
  • Works with Fidelity and TD Ameritrade

Cons

  • 0.5% management fee
  • No self-management option

Bottom Line

FutureAdvisor monitors, rebalances and tax-manages your investment accounts automatically. If you have at least $5,000 to invest and don’t mind automatic management, it’s worth considering.

Top FutureAdvisor Reviews

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Rated with 5 stars
Verified

I have been a satisfied FA customer for several years now. ... FutureAdvisor acts as your fiduciary - they never try to sell you stocks for the commission fees. Instead, they take...

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Rated with 5 stars
Verified

They answered every single question I had. … They made sure my needs were met. They made sure my account was set up properly. They made sure I didn't have any questions before han...

Read full review

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What is FutureAdvisor?

FutureAdvisor is an online financial advising and investing service run by finance professionals, data scientists and software engineers. Its automated portfolio management service monitors, rebalances and tax-manages your current investments, supplementing them with low-fee index funds as necessary.

If you already have an account with Fidelity or TD Ameritrade, FutureAdvisor just acts as an automated management layer. If you don't use Fidelity or TD Ameritrade, FutureAdvisor does all the work of moving your accounts over.

FutureAdvisor uses portfolio management principles based on academic research and industry practices to help you achieve your financial goals. Whether you’re saving for retirement or college, this app can provide helpful professional advice on investing and managing your money.

How does FutureAdvisor work?

FutureAdvisor has a convenient online sign-up process. Once you've created an account, you'll be asked some questions about your situation and your financial goals. FutureAdvisor gives you three options for your financial goals:

  • Retirement
  • Major purchase
  • General investing

Once you've chosen what you're planning for, you can easily customize the details, like how much you want to invest and for how long. You can also select your risk tolerance for investments, ranging from conservative to aggressive.

As soon as FutureAdvisor enrolls your accounts into management, you can access your account any time through either its website, Fidelity or TD Ameritrade.

Keep in mind that FutureAdvisor only accepts accounts by users who are at least 18 years old and legal U.S. residents or citizens with at least $5,000 to invest.

FutureAdvisor cost

FutureAdvisor charges a flat annual fee of 0.5% of your assets under management. The company collects this fee quarterly in installments of 0.125%.

However, these fees do not include any commissions or fees associated with trading or rebalancing, which could cost up to $50 for mutual fund trades. Any of your accounts that FutureAdvisor does not directly manage, like a 401(k), accrue no fees.

FutureAdvisor FAQ

What accounts does FutureAdvisor work with?
FutureAdvisor offers direct management for traditional IRAs, Roth IRAs, rollover IRAs and individual and joint taxable accounts.
Can FutureAdvisor help me plan for retirement?
Yes, FutureAdvisor offers retirement planning advice and investment management to help you afford retirement.
Is FutureAdvisor a good option for new investors?
Yes, FutureAdvisors is a simple, automated investment service, so you don’t need to have any investing experience.
Does FutureAdvisor charge fees?
Yes, FutureAdvisor charges an annual management fee of 0.5% of your assets under management.

Is FutureAdvisor worth it?

FutureAdvisor is a great option if you're a beginner investor or looking for software that manages your investments independently. Its initial onboarding gives you a free professional opinion on the best way to invest for your financial goals. If you choose to invest with FutureAdvisor, it handles your investments for you, making it handy for customers who have little free time but want to diversify their savings.

FutureAdvisor Reviews

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How do I know I can trust these reviews about FutureAdvisor?
How do I know I can trust these reviews about FutureAdvisor?
  • 3,147,925 reviews on ConsumerAffairs are verified.
  • We require contact information to ensure our reviewers are real.
  • We use intelligent software that helps us maintain the integrity of reviews.
  • Our moderators read all reviews to verify quality and helpfulness.

For more information about reviews on ConsumerAffairs.com please visit our FAQ.

Page 1 Reviews 0 - 10
Rated with 3 stars
Verified Reviewer
Original review: Dec. 4, 2020

Indifferent. Not much excitement. We need to invest for our future. A financial advisor who is willing to help and teach you is what people need. One with experience and does not act like they know it all and make you feel bad.

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Rated with 3 stars
Verified Reviewer
Original review: Nov. 19, 2020

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.

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    Rated with 2 stars
    profile pic of the author
    Verified Reviewer
    Original review: May 3, 2019

    I had various rollovers here for my IRAs that I consolidated. Overall, in the course of 5 years, I had a reasonably aggressive investment mix geared toward stocks with some bonds. The S&P was up quite a bit during that time. My returns with them were not-5% annualized-pretty marginal. Yes, they may have low fees but then that may not matter if they have low returns. I mean, if a fund has, say, a 1% fee and returns 7% that is objectively better than a .5% fee and a 5% return.

    Anyway, they force you to hold your money with TD Ameritrade which is an issue - another cook in the kitchen to potentially mess things up (which actually happened - I got notification that my funds had been converted to cash and then a couple of days later they were converted back to funds! What?). When I went to rollover into another IRA vehicle their rollover process was arduous - it took over a full month which is just unacceptable.

    At least it was better than an IRA I had with Betterment, one of their competitors, which took 6 weeks! By comparison, I did the same type of rollover with Fidelity and it took 3 days - all electronically - no phone calls, no e-mails whatsoever. Finally, the communication via e-mail and phone calls left we cold-e-mail responses were too slow - sometimes it would take days to get a reply. Frankly, like many financial companies they need a chat option. Hard to fathom that they don’t have one from a customer service standpoint.

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    Rated with 5 stars
    Verified Reviewer
    Original review: Oct. 11, 2017

    I have been a satisfied FA customer for several years now. If you have never used a RoboAdvisor, you should seriously consider doing so for your 401(k) and personal investment accounts. First of all, FutureAdvisor acts as your fiduciary - they never try to sell you stocks for the commission fees. Instead, they take a fixed percentage of the money that they manage for you. If you have a large amount of money to invest, feel free to ask if they will accept a lower fee. They did so for me. Secondly, FA automatically monitors and rebalances your account to keep your stock/bond ratio true to your comfort level - whether it is conservative, moderate or aggressive. Thirdly, they work with many major brokerage houses - so you don't have to open new accounts.

    Their customer service is superb. I recently decided to pay off a small mortgage that I had and asked them to sell some stock funds to do so. They automatically sold off my long term investments to reduce my capital gains tax, and they called me before executing the trade to let me know what my capital gains would be so that I wasn't surprised at tax time. You will sleep better at night knowing that Future Advisor is looking out for you.

    5 people found this review helpful
    Rated with 1 star
    Original review: April 16, 2017

    I decided to try FutureAdvisor. I was supposed to get free try with no charges for 3 months. I ended up with lots of charges. My portfolio was going down (it was in stock market) when the market was going up. It was impossible to get an answer with customer service. I LOST MORE THAN I INVESTED. DISHONEST COMPANY. DO NOT DEAL WITH THEM.

    13 people found this review helpful
    Rated with 5 stars
    Verified Reviewer
    Original review: Dec. 12, 2016

    They're nice, pleasant. They answered every single question I had. There wasn't a long wait. They were literally sweet and able to walk me through and the call wasn't ended too fast. Everything was nice and brilliant. They made sure my needs were met. They made sure my account was set up properly. They made sure I didn't have any questions before hanging up. There wasn't too many additional fees and if they were, they weren't too overbearing. Maybe here and there or for small things like a dollar or two. Nothing too extreme. Everything was very easy. The website, the 1-800 number, the customer service, my account. I was definitely impressed and if it wasn't, they'd 100 percent help you completely.

    Be the first one to find this review helpful
    Rated with 3 stars
    Verified Reviewer
    Original review: Dec. 11, 2016

    I would have to say that the customer service experience with this company leaves a little bit to be desired. It's not absolutely terrible, and in the end you get the answers or assistance you need, but it could be better. It offers the best customization packages I've ever heard of, and in my personal situation was able to provide exactly what I was looking for and suited my needs perfectly. Now this is one area I did have a bit of a problem with in the form of fees popping up that no one could properly explain (and granted, that may have had more to do with the specific customer service representative I spoke to than the company itself). This service is very easy to use and requires very little effort from the customer. Nothing is confusing or difficult, and it's an overall painless experience.

    3 people found this review helpful
    Rated with 5 stars
    Verified Reviewer
    Original review: Dec. 10, 2016

    Easy to use and a variety of ways to get help. Customer service is very helpful and thorough. If you have any issues it's easy to get assistance. I'd happily recommend. You can put minute details in to get the results you want. I can put my salary and outgoing bills to help determine expenses. It's reasonably priced. Additional fees are extremely reasonable. You may want certain details that they can provide. It's totally reasonable and worth the extra fees. It's so easy... fun even! If you ever have any questions customer service is always there for you! The FAQ section is perfect for all your needs. It's so easy there should never be any issues.

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    Rated with 3 stars
    Verified Reviewer
    Original review: Dec. 9, 2016

    It was acceptable and the trade occurred as scheduled per my request. Very similar to my requests for Fidelity in trade transactions and their timing. Further the software was simple and easy to use and made for quick instruction and direction. There are several options and paths to execute your instructions. The one I chose was a simple point and click. Once the task was complete you would receive a detailed report. There are additional fees and potential wait times for completing and executing any trades on these exchanges where the investor must choose between two options. Either one is challenging. The system or the software design is relatively easy to use. With self-descriptive menus and drop down options to choose from each option. The speed of transaction is dependent on the complexity and makeup of the instructions and the directions.

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    Rated with 3 stars
    Verified Reviewer
    Original review: Dec. 7, 2016

    Their customer service is not too bad. It could be better however. It would be nice to be treated like I was special and not just someone else they were making money off of. I am overall very happy with the different customization options that they give you for making your investments. There are many different options to choose from no matter how much you want to invest. I am overall satisfied with their additional fees. It could always be worse. There is always a company that is going to charge less and there is always going to be a company that charges more. Overall I am pleased with the ease of use that I get. It makes it easy to invest without having to listen to a representative trying to talk me into an investment I don't want.

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    FutureAdvisor Company Information

    Company Name:
    FutureAdvisor
    Year Founded:
    2010
    City:
    San Francisco
    State/Province:
    CA
    Country:
    United States
    Website:
    app.futureadvisor.com