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FinDEVr 2016 Top Robo-Advisor and Investment Platforms

FinDEVr 2016 Stand Outs in the Fintech Arena

FinDEVr 2016 stand outs! 1787fp, WiseBanyan, Woo Trader, DriveWealth Drill downs

Covering FinDEVr Silicon Valley is one of my favorite events. It gives me an opportunity to check out the latest Fintech players. Culled from the many presentations, these four stand outs are bringing new tools and apps to the robo-advisory, investment and wealth management field. The FinDEVr event is the sister event Finovate, another exciting fintech bash.

DriveWealth – Invest on Your Own Terms

DriveWealth was designed with the millennial investor in mind. On-the-go investors or investor hopefuls will enjoy the easy-to-access application that is available for both Apple and Android devices. Once downloaded, users can immediately begin improving their investment portfolio.

The DriveWealth app allows users to take control of their investments to the dollar. What this means is that regardless of the price of a company’s shares, investors get to choose the dollar amount they would like to invest. The fractional shares are easily accessible to users on the app, so buying and selling is only a touch away.

DriveWealth also offers a stock watchlist, so busy investors can get alerts and keep an eye on shares. When something you like is available, just add it to your shopping cart and purchase it.

In addition to the app, DriveWealth has a blog that focuses on millennial and new investors primarily, although it does have financial advice for more experienced investors as well. The blog adds to the well-rounded features Drive Wealth offers, making it a competitor in today’s ever-growing robo-advisor financial market.

WooTrader – Stock Picking Made Easy

WooTrader, another great investing platform, is based on predictive algorithms that help uncertain investors make stock purchasing choices. WooTrader works by analyzing data from the day and making comparisons to previous day’s market movements, thus predicting which trades will make the most sense.

Stocks are ranked based on performance, and users can log in to WooTrader to immediately see the top performing options.

But how is this different from other robo-advising recommendations?

Investors interested in using WooTrader can get a visual of how the algorithms work as the calculation inputs the company uses are transparent. And if you’re a sophisticated investor, WooTrader offers 444 screeners with basics such as the P/E Ratio to high level specifics like the Chaikin Money Flow Index.

Like Drive Wealth, WooTrader also offers a blog. The focus here is on news and events that would affect the stock market, such as political movements and tech startups. The blog at WooTrader seeks to inform investors about things that might impact their stocks, which balances out the effective algorithms nicely.

1787fp – Everything You Need to Take Control of Your Wealth

A new financial app that has yet to hit the market is 1787fp, which currently has an open waiting list. 1787fp is set to be a one-stop-shop for all of your financial tracking needs and looks extremely promising.

The app uses bank-level security to protect your information. It offers features like goal setting and tracking, budget planning, bill pay, and expense tracking. 1787fp boasts the ability to help everyone save time through a well-organized structure and easy access to everything financial.

The best feature of the 1787fp app is simplicity. It provides users with a way to manage their money in an organized, straightforward, accessible fashion. No more overdraft fees because of forgotten bills!

WiseBanyan – World’s First Free Financial Advisor

Get ready: there is now a free – yes, free – financial planner available online. WiseBanyan is breaking the mold by providing trading for absolutely nothing. If it seems too good to be true, WiseBanyan is up front about how they make money: they sell additional products and services that customers can choose to utilize if it fits their financial needs. The company operates under the premise that you shouldn’t pay for something you don’t use, which is something customers can certainly support.

By providing a traditionally costly service for free, the WiseBanyan robo-advisor is truly making sure that the customer comes first. WiseBanyan tracks customer goals 24/7, and makes it easy for users to see where they are in relation to their goals. The immediate availability of this information means that customers always know what is happening with their money.

Additionally, customers with existing retirement accounts can move them over to WiseBanyan to make management easy. Don’t have a retirement account yet? Open an IRA through the program. With no minimum investments or balances, WiseBanyan is one of the best things to happen to investors with limited budgets.

Each of these four new products was designed to meet the needs of the unique investors who will use them; all four are accessible, convenient, and offer the sort of financial advice typically distributed by a human financial planner. The no fee financial planning strategy strives to get investors started sooner to build greater long term wealth.

From buying a home, to saving for the future, creating a financial plan and managing your investments, WiseBanyan can help. Overall, they are here to do the job quicker, simpler, and cheaper – who could argue with that?

I picked WiseBanyan as one of the top robo-advisors with rock-bottom minimum investment amounts in a recent Investopedia article.

Final FinDEVr Wrap Up

Competition is driving the investment developers to create new, smarter and better robo-advisor and investing products and services. These four new entrants are front and center of the movement. And investors are the ones to benefit. With more features, lower or no-fee options, these robo-advisors will make managing your financial life better.

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Barbara A. Friedberg, MBA, MS

Barbara A. Friedberg, MBA, MS

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