Ally Invest Robo Portfolios Review 2023: Pros, Cons and How It Compares

ally invest review

Core – Includes domestic and international stocks, as well as fixed income assets. Financing – Ally Bank offers mortgages for both purchase and refinance, auto loans for both personal and business, and personal loans for medical costs and repairs and renovations. The minimum account size balance to qualify for a fee credit is $2,500. One of his favorite tools (here’s my treasure chest of tools,, everything I use) is Personal Capital, which enables him to manage his finances in just 15-minutes each month. They also offer financial planning, such as a Retirement Planning Tool that can tell you if you’re on track to retire when you want. You can customize it but the default shows you a lot of data very quickly, with threads you can pull for additional research.

The data collection efforts at are unmatched in the industry. The following tables show a deeper dive into the offerings available at this broker. You can also compare its offerings side-by-side with those of other brokers using our Comparison Tool.

ETF and Mutual Fund Screener

However, you’ll need a $100,000 minimum, and you’ll pay up to 0.85% in advisory fees. Many of the brokers we reviewed also gave us live demonstrations of their platforms and services, either at their New York City offices or via video conferencing methods. Ally Invest’s community page also has content areas for life, money, car, home, bank, investments, trends, and so on. This community page can be customized by the user under each of these content areas.

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Posted: Thu, 01 Dec 2022 22:30:32 GMT [source]

As long-term investors ourselves, we don’t put much emphasis on trading platforms, given that virtually any broker makes placing a trade as easy as entering a ticker symbol and making a few clicks. Lightspeed is all about active traders who can deliver volume to the broker, and so everything is optimized around making the experience the best for them. That means discounted prices for high-volume trades and multiple high-power trading platforms, but it also means no concern for eliminating the nickel-and-dime costs that other brokers routinely slash. E-Trade is likely to be a suitable broker choice for many investors who will appreciate its low trading costs, high-quality research and education, and 24/7 access to customer service.

In very simple terms, an option gives you (the buyer) the power to buy stocks (and other investments) at a fixed price for a fixed amount of time, no matter how the price fluctuates. I decided to give Ally’s managed portfolios a try, rather than the self-directed investing. My feeling here is that since I don’t yet think I have the know-how to do everything on my own….I’m happy to leave it to the professionals. Automated portfolios recommended by us and managed by our smart robo-advisor technology. Select from 4 portfolio choices – core, income, socially responsible, and tax optimized.

Retirement accounts

Luckily, Ally Invest offers products for you no matter how experienced you are with investing or not. The self-directed trading and Cash-Enhanced Managed Portfolios accounts will appeal to hands-on investors and investors who would prefer to be less involved in their investments, respectively. Ally’s tools look through thousands of ETFs and its website provides information on ETFs including the risks they can pose. This information may help you make a more informed decision about whether a managed portfolio is right for you. After the original setup of your account, Ally Invest will continue to monitor your portfolio.

This cash allocation acts as a buffer against the ups and downs of the market and cannot be accessed like money in a savings account. When it comes to bond investments, you’ll need a minimum of $10, and you’ll pay $1 per bond. Ally Invest offers more than 12,000 mutual funds, which cost $9.95 per trade. Ally’s self-directed brokerage accounts also offer commission-free trading on stocks, ETFs, and options.

Let’s take a look at a few of the key features we love about Ally’s platform. I may be compensated through 3rd party advertisers but our reviews, comparisons, and articles are based on objective measures and analysis. They are both under the same branding but the two systems still feel a little separate because they’re still separate entities. When you log into to visit your banking, you can see your Ally Invest information. Ally Bank got into the brokerage game through acquisition in 2016 and renamed it Ally Invest Securities, or Ally Invest for short. They’re regulated by FINRA, you can look up their listing on BrokerCheck, and they’re licensed to operate in all 50 states plus Washington D.C.

The account fees are somewhat surprising here since they’re atypical at most brokers today. If you transfer the account, that’s an additional $50, while a partial account transfer will also run you $50. Browser-based platform with free screening tools, customizable charting, research and real-time data. Ally is one of the most trusted financial companies in the world and has a strong track record that dates back 100+ years.

Account Opening Transfer Credits

Should you need such advice, consult a licensed financial or tax advisor. References to products, offers, and rates from third party sites often change. While we do our best to keep these updated, numbers stated on this site may differ from actual numbers. We may have financial relationships with some of the companies mentioned on this website.

  • However, stocks priced less than $2 per share are charged a commission of as much as $4.95 plus $0.01 per share.
  • However, commissions on other securities like stocks, ETFs and options are exceptionally affordable and competitive.
  • Whether you choose a Self-Directed Trading account or a Cash-Enhanced Managed Portfolios account, Ally Invest promises to provide you with low-cost funds.

You won’t be able to buy them directly, but you will be able to reinvest your dividends into fractional shares. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. NerdWallet’s comprehensive review process evaluates and ranks the largest U.S. brokers by assets under management, along with emerging industry players. Our aim is to provide an independent assessment of providers to help arm you with information to make sound, informed judgements on which ones will best meet your needs. Ally Invest charges $50 for a full or partial transfer of your securities out of your account (called an ACAT transfer).

Features of Ally Invest

No OTCs, no bond desk, no crypto, no extended hours trading, access is shit. The content on this site is for informational and educational purposes only and should not be construed as professional financial advice. Please consult with a licensed financial or tax advisor before making any decisions based on the information you see here. Bottom line is that Ally Invest offers everything Robinhood does (except crypto and fractional shares) plus you can tack on a solid online banking experience all in one spot. Then, their systems (and people) monitor your portfolio and rebalance as needed.

But alas, once you decide on the portfolio you’d like, you have to make and fund an actual account with Ally. If you have questions regarding your taxes, please visit or consult a tax professional. Access informational articles provided by Ally Invest to help you improve your understanding of investment strategies and market trends. This offers higher dividend yields, while maintaining a more conservative risk profile. For beginners looking to bank and invest under one roof, Ally Invest could be a good place to start, especially if you already have ties to Ally.

As at many other robo-advisors, Ally Invest Robo Portfolios’ investment portfolios are made up of exchange-traded funds. These ETFs cover 17 asset classes and 32 portfolios, with an average expense ratio of 0.07%, depending on the portfolio. Customers can choose among Core, Tax Optimized, Income and Socially Responsible allocations. Unlike many other brokers, Ally does not have proprietary funds, so it does not use its own funds in its managed portfolios.

Ally Invest allows account owners to transfer free cash from their investment account into a deposit account at Ally Bank so they can earn interest. Ally has made this cash management a seamless process, but it still requires customers to make the transfers into and out of the investment account rather than through an automatic sweep. Ally Bank offers some of the most competitive rates on cash deposits at 2%. Ally Invest has a stock screener available on the primary website, but not on Ally Invest Live or the mobile app. The screener works well and provides many criteria users might want, including fundamentals, sectors, exchanges, price performance, and valuation. There is also fundamental information such as accounting ratios, earnings per share (EPS), dividends, and consensus analyst ratings from FactSet.

ally invest review

While we adhere to strict
editorial integrity,
this post may contain references to products from our partners. He oversees editorial coverage of banking, investing, the economy and all things money. Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. That said, investing with Ally is a personal choice that will depend on your unique situations.

The lack of fractional shares means a person with $100 to invest would be limited to just two shares of a $50 stock. If the investor wants to buy one stock at $50 and another at $75, she would have to add an additional $25 to her account to make it happen. Ally Invest has some notable advantages, including nonexistent minimums and low or nonexistent fees. You can also roll over a qualifying corporate retirement plan, such as a 401(k), to a rollover IRA account. He is also diversifying his investment portfolio by adding a little bit of real estate. But not rental homes, because he doesn’t want a second job, it’s diversified small investments in a few commercial properties and farms in Illinois, Louisiana, and California through AcreTrader.

Like Ally Invest, E-Trade Core Portfolios employs technology to monitor and rebalance your portfolio. You do have access to customer service and advisors but the managing is mostly done with technological systems. Whether you choose a Self-Directed Trading account or a Cash-Enhanced Managed Portfolios account, Ally Invest promises ally invest review to provide you with low-cost funds. Ally Invest’s traditional brokerage accounts can be held by a single individual, jointly by a legal couple, or in a custodial arrangement between a parent or guardian and a minor child (custodial account). Unlike Ally’s IRAs, traditional brokerage accounts are not tax-advantaged.