How Much Money Do I Need Before I Can Invest With You?
Ever since I starting in the financial management business, friends have asked this one simple question.
It’s at this point that I’d shuffle my feet and divert eye contact, because the chances of my friends having half a million dollars just sitting around waiting for me to swoop in and invest was rarely a reality. Usually, I’d end up saying something like: “I can’t do it, but I’d be glad to walk you through opening a Vanguard or Charles Schwab account” which would sometimes happen, but most of the time nothing further would come of it.
When I started my own firm, it was very important that I find a way to make sure I never had to give that excuse again. Financial advisors have historically focused mostly on the demographic of people in the “distribution phase” of their investing career. Why? Frankly, because older retirees are the only ones with enough money built up to afford professional management. The rest of us are on our own, which can be a daunting task.
Today, technology solutions make managing your investments easy for anyone. But, all in all, you’re still doing it on your own. Many low cost online “robo-advisor” solutions exist, and truly, if you adopt and stay with the model algorithms you’re going to do great. But if you’re like me, when it comes to investing, there is comfort in knowing there is a real person who knows me and my family in charge; someone who I can trust to make better investment decisions than I can on my own. Right?
Even now, with the flexibility of my own firm and making my own decisions about who to work with and what to invest in, I still had a couple big problems: 1) time, and 2) profitability. I’m probably telling you more then you wanted to know about the inner workings of the office, but historically small accounts take a large amount of time and are not profitable for advisors who charge a % of management fee. So most firms (formerly including mine) are forced to implement high minimums.
To solve these problems, Radix has invested heavily in software solutions that reduce the operational time involved in managing “smaller” accounts with a hybrid online investment management platform (“Accelerator”) that allows us to better serve those who are “cash flow rich” but “asset poor.”
Accelerator account features include:
- Online paperless account opening and funds transfer
- Online risk tolerance measurement
- Investment in one of Radix Financial’s standard proprietary asset allocation models, based on customized risk tolerance and return objectives
- Portfolio monitoring and automatic rebalancing
- Commission-free ETF trades through TD Ameritrade Institutional
- Self-service capability to move money in AND move money out between your bank and your investment account
- Online statements and trade confirms as well as a sleek and easy to use online client portal
- On-demand performance reporting so you can track just how your account is doing
Whether you’re ready to move over that online brokerage account, open and begin contributing to a Roth IRA, or begin saving and investing for the first time, Accelerator can help you get started.
How to enroll:
Just go to www.radixfinancial.com and click the link for “Open Accelerator Account Now”
*Fees for managed Accelerator accounts under $180,000 are charged at 1.10% of assets