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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.
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.
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|HQ||San Diego, California, United States|
|Accounts||Taxable, Retirement Accounts, IRAs, 401(k), Roth IRAs|
|Access||Website, Mobile App (Android or iOS)|
|Tax Loss Harvesting||Available|
|Fractional Share||Not Available|
|Socially Responsible Investing||Available|
|State Restrictions||Available in all States|
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:
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:
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.
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.
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.
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.
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.
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.
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.
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.
Axos is dedicated to keeping your information safe and secure. Your information is securely stored and encrypted.
Additional security features include:
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.
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.