Author Topic: WiseBanyan Opinions  (Read 6206 times)

Threshkin

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WiseBanyan Opinions
« on: March 10, 2014, 05:29:52 PM »
Is anyone using or familiar with WiseBanyan (wisebanyan.com/)? [Mod Edit: Undisclosed Affiliate Link Removed.] I just started researching them.  They are a new site offering free investment advisory services.  The only fees are for the ETFs themselves.  It looks like they offer advice, re-balancing, and management services.

I will be looking for more information on them and will post what I find to this thread.

Edit: Sorry about the inappropriate link.  My bad.
« Last Edit: March 11, 2014, 11:17:45 AM by Threshkin »

matchewed

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Re: WiseBanyan Opinions
« Reply #1 on: March 11, 2014, 06:33:58 AM »
Not familiar but I will give the same standard spiel. Choose low cost index funds or ETF's which track the indices. Have an AA. Have an investment policy statement which outlines when you revisit your AA. Voilą  you have just done what they will do for you. Free investment advice abounds in this day and age, what's so special about them?

Threshkin

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Re: WiseBanyan Opinions
« Reply #2 on: March 20, 2014, 11:37:08 AM »
Not much to add except that my place in line has gone up from around 6400 to 6800.  They say they are processing applications but I keep going backwards.  Not very happy right now.

wtjbatman

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Re: WiseBanyan Opinions
« Reply #3 on: March 25, 2014, 01:01:47 AM »
Not much to add except that my place in line has gone up from around 6400 to 6800.  They say they are processing applications but I keep going backwards.  Not very happy right now.

Back when I was still looking for a low fee/no fee broker I signed up for Robinhood.com. Or tried to, I've fallen farther and farther back in line since signing up 6 months ago. No longer looking at Robinhood.

innerscorecard

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Re: WiseBanyan Opinions
« Reply #4 on: March 25, 2014, 02:02:51 AM »
Do any of these alternate brokers besides Loyal3 take credit cards?

foobar

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Re: WiseBanyan Opinions
« Reply #5 on: March 25, 2014, 09:41:46 AM »
You need to invite x number of your friends so you can cut in line. I pretty much crossed them off the list for consideration after learning about that marketing technique.

Not much to add except that my place in line has gone up from around 6400 to 6800.  They say they are processing applications but I keep going backwards.  Not very happy right now.

maxdriver

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Re: WiseBanyan Opinions
« Reply #6 on: August 14, 2014, 04:02:52 AM »
I had to wait months...but we now have an account and it's free! (minus the low-cost ETF's). I had basically written them off as I did not bother making referrals and assumed I would not be granted access as a result. Patience paid off though and so far, so good....

GGNoob

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Re: WiseBanyan Opinions
« Reply #7 on: August 14, 2014, 09:10:04 AM »
I referred 5 friends so I could get an instant invite (by 5 friends I mean myself 5 times). But at that time, WiseBanyan was not available in Colorado. Early July it became available and I put off my initial investment until just last week or so. I now have $100 in there just to play around with.





So far I like WiseBanyan. I'm looking forward to seeing what they add and how things evolve over the next couple of years. Until then, I'll keep putting money into my Betterment account.

Threshkin

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Re: WiseBanyan Opinions
« Reply #8 on: August 14, 2014, 09:38:47 AM »
Thanks for the updates.  I did get my invitation a couple of months ago but they wanted a deposit before I could get into their site.  I did not want to invest money blind so I did not proceed.  I look forward to seeing more feedback from you early adopters.

GGNoob

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Re: WiseBanyan Opinions
« Reply #9 on: August 14, 2014, 10:24:06 AM »
Thanks for the updates.  I did get my invitation a couple of months ago but they wanted a deposit before I could get into their site.  I did not want to invest money blind so I did not proceed.  I look forward to seeing more feedback from you early adopters.

That's why I put off my deposit initially. I couldn't really do anything in my account until I deposited money, so I finally said go ahead and deposit $50. Then I added another $50 once my account was fully set up. I figured $100 is a good amount to leave in so I can play around with the account as I want.

You're WiseBanyan account is actually held at Folio Investing. So when you deposit money or change your risk score, it usually takes a day or two to be viewable in the dashboard since Folio has to report the new investment/change to WiseBanyan.

Here's a screenshot of where you can change your asset allocation (aka Risk Score).