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Online Money Management Solutions: Reviews and Comparisons

August 13, 2013
Financial Planning, Investing
At NerdWallet, we adhere to strict standards of editorial integrity to help you make decisions with confidence. Some of the products we feature are from our partners. Here’s how we make money.
We adhere to strict standards of editorial integrity. Some of the products we feature are from our partners. Here’s how we make money.

by Susan Lyon

How do you manage your money online? The recent NerdWallet Investment Literacy Survey shows that more than half of you do some form of online banking or asset management, but to what extent?  And how well is it working for you – could it be better?

The personal financial services industry has exploded, and innovations are popping up left and right.  Many say that financial services as an industry is still stuck in the stone age, but after speaking with the companies below, NerdWallet simply has to disagree.  We looked at a variety of online portfolio manager platforms, as well as a variety of other pioneers in the broader money solutions space, to see how consumers can best benefit from the exciting changes going on in the industry right now.

Financial Technology Innovators

More competitors than ever are vying to help you manage your assets electronically. They vary in terms of level of personalized services, the amount of hands on versus automated computer generated financial advice, and the minimum initial balance required to fund an account with each. But they all claim to do the same thing: improving the way you manage your money online so you can generate greater returns with less hassle.

Portfolio & Asset Management Platforms:

Other Innovators in Online Money Solutions:

  • LearnVest: “How the LearnVest Action Program is Making America More Financially Healthy”
  • Ripple: “How Payments Are Changing the World of FINTech and Currency”
  • Lending Club: “Not Your Typical Loan”

Putting the ‘Person’ Back Into Personal Finance

At the end of the day, online money management isn’t for everyone – many individuals would rather build a relationship with a real, in person financial advisor who can see them through their lifecycle financial needs from college savings to marriage to retirement.  If this sounds  more like you, you should consider connecting with a financial advisor for a free consultation. To do so, see NerdWallet’s Ask An Advisor Platform lets users sign up, ask questions, and connect with real life financial advisers in their area.