Axos Invest Review

WiseBanyan Ratings at a Glance

Overview of Axos Invest

Previously known as WiseBanyan, Axos Invest is an easy-to-use robo-advisor offering expert portfolio management since 2009. In 2019, WiseBanyan’s parent company, Axos Financial, rebranded the WiseBanyan investment management platform as Axos Invest. Axos Invest operates in conjunction with Axos Bank, an online banking platform. You can access Axos Invest through its website or the Axos Bank website.

With Axos Invest, you won’t find gimmicks or clever new names for long-standing concepts. You know exactly what you’re getting when you sign on with Axos Invest — professional investment management under the watch of a digital investment advisor. 

Axos Invest cuts right to the chase — It offers automated portfolio investment for individuals, especially those just getting started with investing or want to set their portfolio and let a robo-advisor do the heavy lifting. Axos Invest relies on Modern Portfolio Theory and the information you provide to personalize an asset allocation strategy. Modern Portfolio Theory conceptualizes a strategy that focuses on maximizing returns at your particular level of risk tolerance.

Generally, you can expect your custom strategy to have a foundation built on diversification, exchange-traded funds (ETFs), long-term investments, minimizing capital gains to maximize a return, automatic rebalancing and “invest and chill” monitoring. Basically, you can sit back and let Axos Invest take the wheel. 

Further dial in your portfolio by using some of Axos Invest’s added features like selective trading and tax-loss harvesting. Also, you can build several portfolios if you’d like, customizing each to your preferred allocation.

Rewards Checking

With the Rewards Checking account, you get:

• Unlimited domestic ATM fee reimbursements
• Build your own APY, up to 3.30% APY on your balance
• No monthly service fees
• No overdraft or NSF fees
• No monthly balance requirements
• No initial deposit required

Use the promo code AXOS300 when you apply for a Rewards Checking account by June 30th, 2024. Then have qualifying direct deposits to earn up to a $300 bonus!†

You can also use the personal finance and debit card management system and add 0.3% APY. With this level of financial education, it’s easier for you to learn about your money and manage your monthly budget. With each additional service, you add to your APY, including:

• A managed portfolio adds 0.80% APY
• Self-directed trading adds 0.80% APY
• Make consumer loan payments with Axos to add 0.45% APY

Use the code RC100 through June 30, 2023 to earn a $100 bonus.

High Yield Savings Account

The High Yield Savings account from Axos steps up your savings to a new level. The card is functional, and it gives you returns that help you save more every day, including:

• Free debit card upon request
• Digital money management tools to accompany your account
• No maintenance fees or minimum balance requirements
• Only $250 deposit to open an account
• Earn up to 0.61% APY

Features

• Tax-Loss Harvesting
• If you have a well-diversified portfolio, it’s to be expected that securities will fluctuate in price. If you use tax-loss harvesting, your portfolio will monitor and track losses to reduce how much you pay in taxes.
• Selective Trading
• This allows you to exclude ETFs from your portfolio to avoid wash sales, a specific set of actions that disqualify losses from a trade or selling of a security from being tax deductible. 
• Selective trading also allows you to structure your asset allocation strategy around your personal values if you’d prefer. Some examples of available Axos Invest ETF categories are Socially Minded or Wonder Woman, each of which can meet the needs of a special interest investment strategy.
• IRAutomation
• Tailor your retirement strategy by choosing from various retirement accounts that allow you to either save on taxes now or when you withdraw from your retirement account later in life.
• Quick Deposit
• Same or next trading day investments when you make a deposit
• Auto-Deposit Scheduler
• Customize your auto-deposits to your schedule 

Although Axos Invest doesn’t offer financial planning directly from a human financial advisor, its personalized financial planning allows you to set milestones or your financial goals. You can also dictate time horizons for each milestone, which calculates your risk tolerance. Axos Invest will offer deposit schedule recommendations, use dynamic rebalancing and progress analytics to help meet your set milestones.

There is no minimum fee for starting an account, however, it takes $500 for trading to begin on your automatically managed portfolio. $500 is the account minimum you have to keep to qualify for their robo-advisory services with Axos Invest. While this may be a bit higher for those with tighter budgets, it’s still a relatively low account minimum for expert investment management.

You’ll have to maintain this balance to invest with your portfolio. This is beneficial to you as well, ensuring that you have enough investing power in your portfolio to make the most of the services Axos Invest offers. If you fall beneath this balance, you’ll have to pay a $1 monthly charge.

As with many financial advisors, Axos Invest charges an annual percentage fee. This fee is 0.24% of your total assets under management. This is a pretty good deal considering most traditional advisors charge around 1% to manage your assets.

This fee is all-inclusive, with no random charges popping up for commissions, transaction fees or rebalancing fees. Without high management fees or hidden costs, more of your investing power goes towards growing your portfolio.

With a self-directed trading or managed portfolio account, you get a $150 bonus when you open an account and deposit at least $1,000.

How to Open an Axos Invest Account

Creating an Axos Invest account is super simple and can be completed in under 10 minutes — when you visit its website, you can jump right into creating your investment goals by answering a few simple questions about your age, annual income and net worth.

You can get started here or download the Axos Invest app in the Apple App Store or with Google Play.

Axos Invest Investment Style

Your Managed Portfolio comes together under the expert eye of Axos Invest. After you complete a simple questionnaire about your financial situation, investment profile, investment goals and investment objective, Axos Invest will lay out an expertly designed portfolio allocation strategy. Offering a combination of Modern Portfolio Theory and the investment profile generated by the information you provide, Axos Invest uses automated investing to manage your portfolio. No investing experience is needed, portfolios are automatically rebalanced, you can schedule auto-deposits and there’s no annual maintenance fee.

You can opt to use your personalized portfolio recommendation from Axos Invest or tweak it to generate your own allocation. Axos Invest will use your selections to automatically manage your portfolio on your behalf using ongoing monitoring and dynamic auto-rebalancing.

Your Axos Invest portfolio mix includes ETFs and is diversified across a wide range of asset classes, such as real estate trusts and short term high yield corporate bonds.

Once you’ve funded your investment account, you can shift your asset allocation whenever you’d like. Your portfolio will also be adjusted periodically with automatic rebalancing to keep an appropriate weighting in accordance with your investment profile. 

Axos Invest provides additional customization options, like tax-loss harvesting and selective trading. By using tax-loss harvesting, your tax obligation will be reduced without affecting expected risk or return goals. With selective trading, you can restrict ETFs from being included in your Axos Invest portfolio with the goal of maximizing tax harvesting services.

Self-Directed Trading accounts allow you to upgrade to Axos Elite and gain instant access to your funds, lower fees, and increased buying power. With extra market knowledge provided by the site, you can place trades at any time on thousands of S&P 500, NASDAQ, NYSE and other stocks. Plus, commission-free trades are available on eligible stocks and ETFs (other fees may apply).

As an Axos Invest client, you have the following investment account types to choose from: Individual Personal Investment Accounts and Individual Retirement Accounts (IRAs), such as Roth IRA accounts, Traditional IRA accounts and SEP IRA accounts. Axos Invest does not offer 401(k) management as of yet.

Current Offers

Terms of Offer

To receive a $200 Bonus: You must open a new account and have qualifying deposit(s) that total at least $2,000.00 within 60 days to qualify for a $200 bonus, the bonus will be deposited into your account within 10 days after qualifying. Self-Directed Trading accounts will need to additionally make two trades to qualify; Each trade requires a $25 minimum. Deposit funds must be new to bank from a third-party source (not originated from another Axos Bank brand account) to receive bonus credit. All eligible awards will be delivered to your account or email address within 10 days following the 90-day waiting period. Terms and conditions subject to change without notice. New account holders are limited to opening one Managed Portfolios or one Self-Directed Trading account; Eligible accounts include IRA & Taxable, Joint & Individual; The eligible award will be delivered into the account opened. Subsequent market fluctuations and/or trading losses do not impact qualification.^* Valid for one new Axos Invest account per person, and only open to U.S. residents. Current and former Axos Invest account holders who closed accounts within the past 90 days are not eligible. This offer is non-transferrable. Other restrictions may apply. This offer is not valid anywhere Axos Invest is not authorized to offer services. An Axos Invest Managed Portfolios or Self-Directed Trading application must be submitted before 11:59 p.m. PT on 1/31/23 to qualify.

Questions about this promotion can be directed to support@axosinvest.com or call 1-888-585-4965.

If you’re interested in going digital with your investment management, want a more hands-off approach or are newer to the world of investing, Axos Invest is the perfect platform to start testing the waters. While you won’t find trendy features and gimmicks, Axos Invest covers all your bases.

Signing up is easy and only requires a $500 minimum deposit. For straightforward, simplified auto investing, visit Axos Invest here or download their app. Answer a few simple questions and you’ll be on your way.

Frequently Asked Questions