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Axos Managed Portfolios Review 2022: Built Around Your Goals

Bobby Hall

Axos Managed Portfolios offers an easy and user-friendly investment platform where you can start investing in a few simple steps. Portfolios can be tailored to your life goals and adapted as your financial needs change. 

Overall rating

4.5

Summary: Axos Managed Portfolios helps Americans start investing on an automated platform with a low annual advisory fee of 0.24%. Portfolios are adaptable to your goals and can include socially responsible investments. 

Axos Managed Portfolios

axos bank logo

0.24%

Annual Fee

$500

Account Minimum


Reviews

5

Account Opening

4.5

Fees

5

Deposits & Withdrawals

4

Product Offerings

5

Portfolio Construction

5

Portfolio Management

5

Customer Service

2

Education

5

Safe & Secure

Pros

  • Set personalized goals 
  • Great for beginner investors 
  • Automated platform 
  • Adaptable portfolios

Cons

  • Limited account types 
  • Minimum deposit of $500 
  • Lack of education tools

Best For

  • Low management fees 
  • Simple to get started 
  • Build a portfolio tailored to your specifications 
  • Long-term investors 
  • Unlimited and automatic rebalancing

Features

HQSan Diego, California, United States
Fees0.24%
Account Minimum$500
AccountsTaxable, Retirement Accounts, IRAs, 401(k), Roth IRAs
AccessWebsite, Mobile App (Android or iOS)
Portfolio RebalancingAvailable
Tax Loss HarvestingAvailable
Automatic DepositsAvailable
AdvisorNot available
Fractional ShareNot Available
Socially Responsible InvestingAvailable
Smart BetaAvailable
State RestrictionsAvailable in all States

In depth review on Axos Managed Portfolios 

Axos Managed Portfolios offers automated investment with a low fee and customizable portfolio. Investors can easily track their goals and adapt milestones at any time. Plus, Axos rebalances your portfolio to keep your asset allocation on track with your goals at no extra cost.  

Customers of Axos can benefit from managing checking and investment accounts all under one platform. At present, Axos Invest provides the following account types: 

  • Taxable investment account 
  • Traditional IRA 
  • Roth IRA 

Axos Managed Portfolios is best for 

  • Low management fees: Advisory fees are competitive and start from 0.24%, whereas the industry standard is 1.0%. 
  • Simple to get started: You can get started quickly online. Head over to the website and fill out an application. You’ll then be asked a series of questions to help determine your investor profile. 
  • Build a portfolio tailored to your specifications: Axos will ask you a few questions to learn more about who you are and how much you want to contribute. A portfolio and investment profile will be created according to your risk tolerance and goals.  
  • Long-term investors: Axos implements a passively managed investment strategy that benefits from long-term growth over short-term fluctuations.  
  • Unlimited and automatic rebalancing: When your portfolio deviates by more than 5% of the target allocation, Axos Invest will automatically rebalance your allocation for you. 

Axos Managed Portfolios benefits 

  • Set personalized goals: Whether you’re saving for a house, having a baby, or investing in your kid’s college tuition, you can create personalized goals and monitor your progress.  
  • Great for beginner investors: For beginner investors, Axos does all the heavy lifting and sets your investment strategy according to your risk profile and goals.  
  • Automated platform: With Axos Managed Portfolios, you can set up a reoccurring deposit that helps you stay on track with your financial goals.  
  • Adaptable portfolios: You can edit your goals and milestones at any time simply by looking into your dashboard and selecting the goal you’d like to edit or close.  

Axos Managed Portfolios drawbacks 

  • Limited account types: With Axos, you can open an Individual personal investment account, traditional IRA, or Roth IRA. There’s no option to open a joint account or custodial account.  
  • Minimum deposit of $500: To get started, you’ll need a minimum deposit of $500. This can be high for many beginner investors.  
  • Lack of education tools: Axos Invest lacks the investment education resources and tools that many other brokerages offer to help educate their customers about their investment decisions.  

Account opening 

5

Axos Managed Portfolios is open to anyone over 18 years old with a permanent U.S. address and social security number. You can open an account in a few simple steps with the following information: 

  • Name 
  • Address 
  • Email 
  • Social security number 
  • Government-issued ID 

Once you’ve signed up, Axos will ask you a few questions about who you are and your financial goals. You’ll be able to provide details on your investment horizon and risk tolerance. At the end of the questionnaire, you’ll receive a portfolio recommendation based on your preferences.  

There is a minimum deposit requirement of $500, which you can make when you link your bank account. It’s a good idea to keep your profile up-to-date, so you can receive the most recent recommendations for your portfolio.  

Fees 

4.5

Axos adopts a low fee approach, charging 0.24% for portfolio management. The fee is calculated monthly and deducted from your account balance. If your balance does not cover the fee, Axos may sell some securities. 

Other fees include: 

Fee for account balances less than $500 $1 
Closure of taxable personal investment account $0 
Closure of Axos Invest IRA $40 
ACAT and Non-ACAT Transfer Out $75 per account 

You can find a complete list of the fees imposed by Axos here.   

Deposit and withdrawal 

5

To fund or withdraw from your account, you can connect to an external bank account or do an internal transfer from an existing Axos account.   

However, if you don’t want to link your bank account, you can also do a wire transfer, mail a check, or transfer funds from another brokerage.  

Product offerings 

4

Primarily investing in ETFs, your portfolio is passively managed, tracking certain index funds. This allows Axos to charge lower fees than traditional actively managed funds and diversify your portfolio optimally according to your risk profile.  

Portfolio construction 

5

Axos builds diversified portfolios tailored to your unique investment goals and risk tolerance. During the account opening process, you’ll answer a series of questions to develop your investor profile. Your portfolio will be constructed relative to your risk tolerance which can range from conservative to aggressive.  

Typically, a more aggressive portfolio will have a more significant asset allocation to stocks, which is geared towards stronger growth. Conservative portfolios will have a more substantial weighting towards bonds.  

Portfolio management 

5

Axos implements a passive investing strategy that aims to grow your wealth over the long term. Investment accounts are automatically rebalanced when your target asset allocation digresses by 5%. This ensures that your portfolio allocation matches your preferred selection.  

In addition, Axos provides a tax-loss harvesting feature that customizes ETF holdings according to losses made and replaces them with similar ETFs. If you have a taxable account, this can increase your tax efficiency, lowering your capital gains liabilities.  

Education 

2

Educational resources are limited with Axos Invest. Although, the company’s blog is available to learn more about investing and start gaining an understanding of stocks and ETFs. 

There are also a series of tools available on their website where you can use various calculators to calculate your retirement or college savings.  

Customer service 

5

To get in touch with Axos customer service, simply sign in to your account and send a secure message through the portal. Alternatively, if you’re not yet a customer, you can send an email to [email protected] and a member of customer service will get back to you. 

Additionally, you might find it helpful to head over to the FAQ section of their website, where some of the most common questions are answered.  

Safe and secure 

5

Axos is dedicated to keeping your information safe and secure. Your information is securely stored and encrypted.  

Additional security features include: 

  • Firewalls 
  • State-of-the-art technology to detect cybercrime  
  • Automatic logout due to inactivity  
  • Monitoring of fraud 

Assets are held with Axos Clearing, an affiliate company of Axos Invest. Your investments are covered and protected by SIPC in the event of broker insolvency up to $500,000, including a limit of $250,000 for cash losses. This does not include losses due to market volatility.  

Is Axos Managed Portfolio right for you? 

If you’re an investor that prefers a passively managed portfolio over an actively managed portfolio, Axos could be a great option for you. Investments are tailored according to your risk profile and rebalanced at no extra cost. Plus, if you have a taxable account, the tax-loss harvesting feature will help you lower your tax bill. 

Unfortunately, there are limited account options that could deter investors who require specific investment accounts such as a SEP IRA. Plus, the lack of education tools can hold investors back from learning more about the financial markets as they grow their wealth.