Axos Invest Managed Portfolios Review

Axos Invest Managed Portfolios is a robo-advisor investing platform that offers automated investing with a low advisory fee of 0.24% and a minimum investment of $500. It features a helpful goal-setting tool and automatic rebalancing. Axos Invest is a division of Axos Financial, Inc., which also offers online banking through Axos Bank.

At A Glance

• Low-cost robo-advisor platform
• Advisory fees: 0.24%
• Account minimum
• Self-directed trading available through Axos Invest

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Who Should Use Axos Invest Managed Portfolios?

Robo-advisor platforms like Axos Invest Managed Portfolios are ideal for beginner investors or anyone looking for a low-cost, hands-off approach to investing. The nice thing about Axos Invest is that it also has a self-directed trading platform, so investors can have the best of both worlds. Or, you can start with Managed Portfolios and graduate to self-directed investing without going to another online broker.

If you want full control over your investments or to deal with a human advisor, this platform is likely not for you.

Axos Invest Managed Portfolios Alternatives

Annual Fees	0.25%	$4/month or 0.25%	$0
Min. Investment	$500	$0	$1
Account Types	Taxable accounts, Traditional, Roth, SEP IRA accounts, 529 Plans	Taxable accounts, Roth, Traditional, SEP, Inherited IRA, Trust accounts	Taxable accounts, Roth, Traditional, SEP IRA
	Learn More	Learn More	Learn More

Axos Invest Managed Portfolios is a robo-advisor platform offered by Las Vegas-based Axos Financial, Inc. In addition to its managed investing platform, Axos Financial also offers self-directed investing and online banking through Axos Bank.

Axos Invest was once known as WiseBanyan until it was acquired by Axos Financial in October 2018. At the time, much of the tools remained the same and were simply brought into the Axos Financial brand. Since then, there have been more significant updates.

How To Get Started With Axos Invest

You can apply for a Managed Portfolios account from the Axos Invest website within minutes. To get started, head to Axos Invest and choose “Open An Account.” To apply, you must be at least 18 years of age, have a permanent U.S. residential address, and provide the following information:

• Personal details (Name, birthdate, etc.)
• Social Security Number (SSN)
• Email Address
• Mobile Phone Number
• Bank Account Information (to link to your Axos Account)

Once you’ve submitted your application, it can take up to 4 business days for your funds to arrive in your Axos account from your bank and for Axos to build your portfolio. Your account will likely display a “pending” status during this time.

Note: Axos will also need to be able to access your credit report. According to its website, if you have a credit freeze on your report, you’ll need to contact TransUnion and/or Experian to request a temporary lift before submitting your application.

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Axos Invest Managed Portfolios

Managed Portfolio’s is Axos Invest’s robo-advisor platform. It competes with similar platforms, such as Wealthfront and Betterment, offering a fully automated investing solution at a low cost. You can open the following types of accounts:

• Taxable investment account
• Traditional IRA
• Roth IRA

Here’s a closer look at what Axos Managed Portfolios offers.

Goal Setting

Whether you’re saving for retirement, a home down payment, or just building an emergency fund, Axos allows you to set your goals and the timeline required to meet them. Axos will recommend deposit plans to help you reach your goals, help you track your progress, and automatically rebalance your investments along the way.

It’s critical that you keep your account up to date so that Axos can provide you with accurate goal recommendations. Always ensure your income, net worth, and time horizon details remain current.

Pricing

Axos Managed Portfolios offers straightforward pricing, charging a 0.24% advisory fee. For example, if your balance is $100,000, your monthly cost would be approximately $20.00 (fees are charged monthly and are calculated as 1/12 of 0.24% of your monthly balance. Fees are also retroactive, so September’s fee would be charged in October, for example.

Portfolio Management

Axos Invest Managed Portfolios are comprised of low-cost exchange-traded funds (ETFs). Axos employs a long-term buy-and-hold strategy, so you won’t notice frequent buying and selling of securities in your portfolio. They actively rebalance your account to ensure your portfolio remains within the recommended asset allocation. Any time your allocation swings by 5% or more, Axos will rebalance. They first rebalance any available dividends and deposits to minimize the amount of securities sold.

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Axos Invest Self-Directed Trading

As mentioned, Axos Invest offers a self-directed trading platform for investors who want hands-on control of their investments. It offers commission-free stock, ETF, and mutual fund trades. You can open an individual or joint taxable account and a Roth, Traditional, or Rollover IRA retirement account.

There is no account fee for the basic trading platform, but if you upgrade to Axos Elite for $10/month, it unlocks the following features:

• Real-time market data
• Extended market hours (7:00 PM ET)
• Expert Insights and TipRanks premium market research
• Margin trading
• Advanced options trading with lower pricing

While leading online brokers offer more features with their basic trading platforms, Axos Invest allows you to manage your online banking and your investments under a single login, which is a nice benefit.

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Axos Managed Portfolios vs. Alternatives

Wealthfront

Wealthfront is a longstanding robo-advisor platform with similarities to Axos Invest Managed Portfolios. It has the same minimum investment amount of $500, and its advisory fee, at 0.25%, is nearly identical. One advantage to Wealthfront is that it currently pays 5.00% APY on cash, which you can’t get with Axos Invest. Axos, on the other hand, offers more banking services than Wealthfront, via Axos Bank. Learn more in our full review of Wealthfront.

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Betterment

Betterment is another popular robo-advisor platform and a close competitor to both Axos Invest and Wealthfront. However, Betterment does not have an investment minimum. You can get started with as little as $1. Its fees are similar, at $4/month or 0.25% annually, depending on your portfolio balance. Unlike Axos Invest, Betterment does not offer self-directed trading, so you cannot open an account to purchase individual stocks. It currently pays 5.00% on uninvested cash, which you can’t get with Axos. Learn more in our full review of Betterment.

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SoFi

SoFi is an online financial platform that offers everything from banking to loans to credit cards to investing. It also has its own robo-advisor platform through SoFi Invest. Unlike Axos Invest, Wealthfront, and Betterment, it doesn’t charge any advisory fees; however, that doesn’t mean it’s more affordable. SoFi makes money on its ETF portfolios, which are more expensive than standard ETFs and are included in its automated investing portfolios. SoFi does not have an investment minimum, so you can get started with as little as $1. Learn more in our full review of SoFi Invest.

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FAQs

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Summary

If you prefer to take a passive approach to investing, Axos Invest Managed Portfolios is a solid choice. It offers straightforward pricing, and the $500 minimum investment shouldn’t restrict too many investors. We also like that you can open a self-directed investing account and manage your banking under the same roof. However, if you need to open an account type Axos Invest does not support or want to earn a higher APY on your uninvested cash, you may want to consider a different platform.