Stash Invest is an investment app for your smart phone that is totally automated and allows you to invest anything as little as $5. It is automated means it works with the help of algorithms to plough and sow your investments and helps you harvest great earnings. Stash has an eye pleasing interface that is simple and very easy to get started.
Stash is a kind of micro savings robotic advisor which is making its way into the hearts of many investors. Just as other robo-advisors Stash makes investment recommendations, but actual investing is totally done by users which give users an exciting experience of the market. Stash is growing rapidly and currently has some 50,000 active users.
How to get connected with Stash?
All you need is to go through an easy sign up process and then you need to complete a questionnaire that determines your risk level and aim of your investment. After completion of the questionnaire Stash presents you with a list of investment options from which to choose. This choice provided by stash actually gives you more elasticity and control on your portfolio than any other typical robo-advisors offer.
Stash focuses on those people who truly want to become investors, choose investments and know where their money is going. But many people are unable to do that due to large amount of sums involved in this and therefore earning a big amount remain a mere dream but with Stash the situation is totally different as it offers 30 different types of plan in which you can invest any amount of sums which could be as minimum as $5.
How Does Stash Invest Work?
Conditions for opening an account with Stash
- Social security number
- Evidence of US citizenship
- Information to link your bank account
- You must be 18 years of age
- Available only in US though there exist some plans to make it international
After all this, Stash determines your investment risk level by offering you to answer a questionnaire. Once decided, your risk level cannot be changed, however by going into the app and revising your suitability questions may change your risk level. Also other things determining you risk level will be how conservative, moderate or aggressive is your age, your investment time horizon and your investment goals. Each risk level you have selected has its own recommended investments. Stash offers a lot more investment options than any of its competitors. You will be given a choice of about 30 investments consistent with your risk level, from which you can choose for your investments. Once you have been provided the required information, which should take no more than minute or two, you can download the Stash Invest app.
After that your linked bank account will be verified using a micro deposit. Stash will make a very small deposit into your bank account, which you will need to verify. This process could take up to six business days.
Once after your account is established, you’ll be able to add or subtract money to and from your linked bank account, using the Stash Deposit screen. However, Stash limits the Deposits and withdrawals to $10,000 per day due to security concerns. Also, you can link only one bank account to your Stash account. But you will continue to earn interest on un-ploughed cash balances.
For Who Stash is basically for?
Stash Invest is actually designed for people who has just started investing or can’t take any such headache and want an easy and automatic thing for managing funds and let it accumulate. The Stash app helps investors in learning a lot about investing to build an expertise over your decision making and habit. The app is basically meant for people who want to have specific investments that just match upon their values. Their aim and focus towards this goal is given proper care by Stash.
Stash Features and Pricing
- ETFs and individual stocks are traded — Investment option offered by stash are usually exchange traded funds however unlike the other robo advisors in market Stash offers some individual stocks too. It let you to make an investment according to your risk level out of thousands of investments.
- Protection from SIPC — As Stash is registered with the Securities Investor Protection Corporation (SIPC) therefore funds are protected through the clearing agency (see below).
- Third-party Clearing Agency — Investments with Stash are held through Apex Clearing Corporation. Apex is the firm that handles custody of assets, reporting, trade confirmation, settlement and securities delivery in Stash.
- Annual Fees — Stash is currently offering the service free for the first three months. After that, they charge a subscription fee of $1 per month ($12 per year) on account balances up to $4,999. Once your account reaches $5,000 the annual fee becomes 0.25% of your balance. Electronic statements and trade confirmations are free, but they will charge $2 for paper confirmations and $5 for paper statements.
- $5 Minimum deposit — Stash allows you to hold fractional shares; they can split a single share of a stock or ETF between several investors on the platform.
- Social Media Sharing — Stash enables you to share investments with your friends. The social sharing option is off by default. Stash limits how much of your information will be shared on social media.
- Security — Stash is a Registered Advisor and it is regulated by Securities and Exchange Commission (SEC). The app uses 256-bit encryption to secure your information. It also uses secure sockets layer (SSL) to protect information sent between Stash and their servers. In addition, Stash does not store your bank login information.
- Mobile App — Stash Invest is available for iOS, and has newly support Android as well. Web based access is not an option.
- Auto Stash (New) — Set scheduled times to make deposit into your Stash Invest account.
- Variety of Investment Options
- Social Media Sharing
- Minimal Fees on Small Accounts
- Less amount of Minimum Deposit required
- Delayed Trading Execution
- No Web Site Access
- Costly for Larger Accounts