Axos Invest Managed Portfolios Reviews

I’ve been using WiseBanyan since it’s launch. I’ve never paid for premium packages, but I have adjusted asset allocations, transferred money in (one-time and recurring), and made withdrawals. Transfers do take several days to complete, but I’ve never once experienced a snafu. Taxes are straightforward in Quickbooks with automatic download. For people concerned about the calculation of their return, it is a combination of dividends and asset appreciation for “total return” over the life of your account (cumulative). It would be inappropriate to compare it to a single benchmark like the SP500. More appropriate would be to examine the returns on the well-rated index funds and ETFs in your portfolio against their benchmarks. WiseBanyan has an excellent curated collection of funds with very low fees and strong Morningstar ratings. AxosInvestManagedPortfolios itself is decent well to all needed functionality. I recommend the service and app without reservation.

I could understand how it would take 7 business days to transfer money from an investment account, but a cash account should not take that long. As for my investment account, it’s been 7 days and I am still waiting. I thought this would be a great way to set money aside and grow it for our wedding next year, among other shorter-term goals, but it’s proving to just be too many extra steps. AxosInvestManagedPortfolios is perfect if you are going to set it and forget it and not touch it for X amount of years, but if you are looking for something to set aside for short-term goals, AxosInvestManagedPortfolios is just a little inconvenient. Also, keep in mind that this....bank/whatever it is, is not FDIC insured (not even for cash accounts). Investments are always a risk, but ask yourself if you are willing to risk cash that you could set aside in your home bank’s savings account. Just some things to consider.

I recently opted in in Fast money to avoid fees from WiseBanyan and to have my money deposited into the account immediately. I was told that my instant deposit from last Friday would not be same day but would occur this past Monday. Fine. Funds were available. Then I come to see that not only did it take a 5 business days for the transfer to happen— even longer than before, I now was being changed $90 in fees. I had made this same transfers before, which somehow failed with WiseBanyan and had been charged $30. Now after signing up to pay them monthly so that money is pulled from my account the day I make the transfer so I avoid fees, it not only takes longer to make the transfer, but you get 3 times the fees. Customer service just justifies their terrible business practices. This is a garbage service that does the opposite of invest your money.

I am a financial professional. Overall, it is very hard to beat this basically zero added fee investment service. The optional add in services are also inexpensive and useful. If you have a large portfolio, the savings can be substantial versus other robo investors that charge a percentage of assets. My only complaint is that the actual investment results are a little hard to determine.

The returns aren’t as high as something like Acorns but it’s free.

Apple Watch app doesn’t appear to work. Always says “Login to access your free account” even with AxosInvestManagedPortfolios open and logged in on the phone.

I opened an IRA account about a year ago. Recently, they started charging me $1 a month as a “premium package” which I never requested or agreed to. Now let’s talk returns: on a $5,500 initial deposit, they got me returns of $179. Some simple math will tell you that it’s a measly 3% return on my investment in a year when the S&P is up over 15% for the same period. But here is where it gets even worse: they lie in their interest calculation! They claim that I’ve made 21% on the past performance dashboard! How do they get 21% is a total mystery. My contribution was non deductible so I will be withdrawing it as soon as they return the fees to my account.

It was good at first besides the fact that they take weeks to get your money back. And now I'm trying to remove my money from the account because I decided to stop using it, it charged me $40 out of what I have saved, a $30 return item fee and my auto deposit amount of $10, when I turned my auto deposit off and also changed it to $0, before I withdrew the money. And I tried calling their support number and they don't have anyone to answer. So I had to send an email, now let's see how long that takes.

Do not recommend. Started originally with wisebanyan before they were bought by Axos bank. They terribly mismanaged my funds. When I tried to withdrawal funds it took over 3 weeks and they only gave me a portion of my funds back. A few weeks they liquidated my account without initiation. They claimed that the withdraw was an accident but all funds had been deposited in my personal bank account. It was $1000 short which they claim was lost to market fluctuations in one month time…

Ok, so I understand that there’s an update available. I saw that when I clicked to open AxosInvestManagedPortfolios . But for humanity’s sake, please don’t force me to update right now before I can even view my account. Give me the option to choose that update later and not block me from viewing anything in my account if I don’t update immediately. Not everybody is in a situation where they have the time to update, or in a place where it’s convenient to take care of updating everything in their device.

I needed something to save and invest in for the long haul. It was easy to set up and get going. Already getting returns and putting more money into it. Also turned on wiseharvesting to max sure I get that tax harvesting going. Submitted a question to costumer support and they we're quick to respond. Thank you

I loved WiseBanyan. They made investing easy. But, alas, we have Axos Invest now and I knew something stupid would happen soon after an acquisition. Fees, fees, and more fees. I’m okay with some subscription fees and such if I know about it coming in. But it stings when they just start popping things in after taking over a very good product. Time to find a new investment company/app.

I have only had AxosInvestManagedPortfolios for a couple months but they have already screwed me out of hundreds of dollars. Without being authorized they sent a debit through to my bank account. Causing a pile up of overdrafts and returns. When I complained to them, they used the excuse that it was not them, but their 3rd party Apex Clearing, that is to blame. Filed a report with states attorney as well as BBB. I will also be sending a complaint to the SEC.

Easy to use and understand with near effortless start-up. And, the only fees are for optional services you can choose not to subscribe to. It’s saving and investing for those without the time or means for the more traditional approach.

Axos invest has been down for a week while it transitions to more of the company that bought it. Luckily I don’t need to make any adjustments to my account, but it’s a little wild and bad if someone did to not be able to access their account for a week+ as it is still going on.

Smooth functioning, intuitive app, easy to use and it keeps investing simple- the way it should be. I’ve been through big brokerages and smaller investment companies and these guys are the best.