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:
- MyPlanIQ: “Risk Managed Retirement Investments for Everyone”
- Wealthfront: “Investing for the Long Term”
- Betterment.com: “How My Enron Fail Helped Me Reinvent The Investment Industry”
- Personal Capital: NerdWallet Review
- Jemstep Portfolio Manager: NerdWallet Review
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”