If you have children younger than 18, you can open a custodial investment account on their behalf.įor hands-off investors, the Smart Advisor option offers a robo-advisor account. You can choose between a taxable investment account or a tax-advantaged individual retirement account ( IRA)-either a traditional IRA or a Roth IRA. From there, you can add more money if you wish, or you can schedule automatic, recurring deposits. The investing service allows you to buy stocks, exchange-traded funds ( ETFs) and crypto, starting with a $5 minimum investment. A two-tiered monthly management fee gives you access to both services, and you maintain separate balances with each service. Stash offers two main features: investing and banking. Consider an online savings account if you want an app to stash your cash with a high APY. People looking to grow as self-directed investors should check out an online brokerage account. If you’re looking for a more comprehensive service, you can probably get a better deal by choosing a dedicated robo-advisor platform. Moreover, the bank account does not offer an annual percentage yield ( APY), making it a poor option for savings. Stash charges flat monthly subscription fees, and while they only amount to a few dollars a month they’re still quite expensive relative to other options available, especially for smaller portfolio balances. However, all this convenience comes with a relatively high price tag. More hands-on investors can design their own investment portfolios, and limited cryptocurrency assets are also available. Stash’s robo-advisor functionality provides a managed portfolio tailored to your risk tolerance and goals, where the platform selects investment assets and manages them for you. For example, you can gradually fund your investment by rounding up purchases to the nearest dollar using a Stash debit card, depositing the rounded amount in the app’s brokerage account. Users get an investment account and an online bank account with Stash, helping them to coordinate their financial goals. The easy-to-use platform gives new investors a convenient way of managing all of their money via a single mobile app. Stash is a good choice for people who are just starting to learn about saving and investing.
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