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Stash Review 2023: Best Investment App for Beginners

Best Investment App for Beginners

Stash Review 2023: Best Investment App for Beginners

$3-$9 per month

Annual Management Fees

$0

Minimum Investment

N/A

Platform Fees

Asset allocation on Stocks, ETFs, and Fractional shares

Underlying Investment

Cash

Funding Options

16%

Expected Annual Return

Stash is an FDIC-insured unique investment app designed to help make investing as easy as it can be for beginners. The robo-advisor offers three types of accounts where investors can invest in fractional shares, ETFs or single stocks. However, the platform does not offer Roth IRA management, and its smart portfolios do not offer tax-loss harvesting.

All details

  • DIY Investing and Automated Portfolio: Choose your investment mode with Stash. This means you can pick any of your own investments, something that is not common with many robo advisors.
  • Round Up Investing: The robo advisor rounds up your investment to the nearest dollar. Once your roundups hit $5, they are sent to your account. 
  • Stash Stock Back Card: Earn stock rewards with the Stash Stock Back Card, with no minimum balance requirements or overdraft fees.
  • Account Minimum and Management Fees: $3 monthly fee for automated investing, $9 monthly for Kids portfolio and stock-back rewards, $0 account minimum.
  • Underlying Assets: Stash has a well-diversified investment portfolio mix but lacks exposure to non-market correlated assets such as commodities and REITS. However, they have over 4,000 ETFs and individual stocks available, and access to cryptocurrency through Smart Portfolios.
  • Online Banking: Access to online bank account and stock-back rewards debit card, but no interest on cash held in the Stash account.
  • Customer Support: Available via email and phone Monday to Friday, with additional email support on weekends.
  • Transfer Charges: $0 standard transfer fee or 1% for instant transfer, $75 ACAT full transfer fee from Stash banking account.

The Pros

  • Features a well-designed Stash app
  • The account can be funded with fractional shares
  • Stash banking
  • You start investing from as little as $1

The Cons

  • Does not feature portfolio management
  • Smart Portfolio does not offer tax-loss harvest
  • Does not offer IRA management/ retirement accounts

General Information

Stash has a different charging model that differs from its competitors. Rather than commission fees, clients pay a subscription fee that is based on three account levels, which include:

  • Stash Beginner: $1 per month ($12 per year)
  • Stash Growth: $3 per month ($36 per year)
  • Stash+: $9 per month ($108 per year)

The Stash Beginner account is entry-level, while the Stash Growth and Stash + are premium accounts offering clients more benefits and features. The Stash Growth tier is a personal investment account with access to a stock-back card, digital advice for personal finances and a retirement portfolio.

All these Stash Accounts are attached to an online banking account with a complimentary Stash debit card, the Stack-Back Card. Stash also charges a $0 standard transfer fee and a 1% fee for the instant transfer. The robo advisor charges an outgoing ACAT full transfer fee of $75.

Read Also: Margin Account vs Cash Account and DCA Investing

Disclaimer: This information may differ from what you see when you visit other financial service websites or the product’s official site, but Loan Advisor continues to keep every detail updated and accurate. This site may be compensated through third-party advertisers. However, the results of our comparison tools which are not marked as sponsored will always be based on objective analysis.

How Stash Compares with Other Robo-Advisors in Singapore

Here is how Stash compares to other robo advisors in Singapore:

Robo-advisor

Management fees

Account Minimum

Promotion

Stash$1 to $9 per month$0None
Sofi-Automated Investing0%$0Free career counseling and loan discounts with qualified discounts
Betterment0.25% with a balance over $20k or a qualifying deposit of $4 per month$0Up to 1 year of free management for all new clients
Wealth Front0.25%$500$50 bonus when you fund your first taxable investment.

Stash – Our Verdict

Stash is an excellent fit for you if you are looking for a solid cash management account, a managed portfolio and an individual brokerage account where you can pick your investment. The robo advisor provides access to fractional shares, allowing you to diversify your investment. However, if you are looking for automated investment management or IRA features, you can look for similar services elsewhere.

How Do I Create an Account?

Creating a Stash account is pretty straightforward. Here are the steps to follow:

It is important to note that you must have a Social Security number and a U.S. bank account. You will need to complete questions about your personal information, which may include the following:

  • Your name and date of birth
  • Complete financial profile
  • Social Security number
  • Financial questions about your investment style and goals

The sign-up process will take three minutes and can be done online. If you want to manage your investment profile on the go, download the Stash app for Apple and Android from App Store and Google Play, respectively.

Final Thoughts

Stash is designed to make it easy for beginner investors. The platform invests in ETFs (Exchange traded funds), stocks and bonds. While it is not sure that you can prevent losses, you can reduce the risk by building a diversified portfolio based on your risk tolerance and investment strategy. 

However, ensuring that you understand everything you invest in is essential. While it is not the cheapest way to invest if you have a significant investment account balance Stash is one of the best ways to start investing.

Key Takeaways

  • Stash allows you to use its Stock-Back card to shop, offering a 5% back on stock investment.
  • The robo advisor’s underlying investment includes mutual funds, stocks and ETFs.
  • Stash offers three investment accounts, including Beginner, Growth and Stash+, for which you have to pay monthly fees of $1, $3 and $9, respectively.

If you are looking for a loan to fund your goals, Loan Advisor got your back! Contact us now, and we will respond promptly with loan quotes from top licensed moneylenders in Singapore that match your needs – free of charge.

FAQs

Yes.

If you are a beginner investor who wants more financial education and guidance and prefers Stash’s Stock-Back Program, Stash is a great idea. However, it is not the cheapest way to invest if you have a large investment account balance and are an experienced investor.

According to Stash, its users save an average of $1,432 annually using the robo advisor’s saving tools. However, the money you earn will depend on your investment and how your investment assets will perform over time.

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