Has anyone ever used this brokerage?
https://www.folioinvesting.com/whatfolios/index.jsp
Their stand-apart feature allows you to create your own portfolio (up to 100 individual stocks and etfs) and have it automatically invest you in those % allocations.
They offer $4 trades (in a window, not limit - it's $10 for limit orders) or $290/yr unlimited (again, window only - but the same fee will cover multiple accounts if you have IRA/rothIRA/taxable all with them).
I've been looking for a way to easily create my own dividend focused etf with 50-100 stocks in it and am thinking this may be the way to go. It wouldn't be cost effective until you hit a decent amount of assets but for $100,000 invested a $290/year fee = .29% which is about what Vanguard averages I think (though obviously if you're investing in etfs within your folio account you'd still be incurring the etf's fees). For anything more than that, the fee keeps getting smaller as a percentage and this would let me have full control over what stocks are included.
Hello!
I've used Foliofn for some time and am pleased. In that account, I generally make between 100-250 purchases per month and thus use the single fee option.
The firm offers great flexibility in going beyond the offerings of "family-restaurant" brokerages (Schwab, TD, BAC), and the single fee is quite reasonable (keep in mind that parent <--> subordinate accounts are under one fee: ex - taxable+roth). You'll have access to institutional shares that other firms only include in their top tier paid accounts.
Of note: most pink sheet offerings, private offerings, most debt, and hybrid debt offers are not supported.
I would advise you to be truthful with yourself, however. If it looks like "fun", and you've little additional experience with macro, fundamental, or technical analysis - and are perturbed by the fees - you should look elsewhere.
I'd be happy to discuss the details with you offline - alternative assets construction and implementation is one of my specialties.