SmartAsset Review

SmartAsset Financial Advisors Ratings at a Glance

So much in the world is either-or. With SmartAsset, you get both the types of financial advice you want — financial tools and calculators to figure stuff out on your own — AND access to financial advisors who can help do it for you. SmartAsset’s SmartAdvisor matching service takes a situation that can be time-consuming and awkward and turns it into a pleasant, efficient experience. 

SmartAsset ranks high in ease of use for people who want to find a financial professional. The average consumer has neither the time nor the energy to do the kind of vetting on their own that such a big decision requires. That’s why 5 minutes spent taking SmartAsset’s free SmartAdvisor consumer/advisor match-up quiz can be so beneficial — in addition to getting matched for several advisors, you know that the people on SmartAsset’s platform are registered with the SEC.

In contrast to banks or brokerages that consumers might run into snags while using, SmartAsset is not a service that requires much in the way of contact or customer service. In addition to the advisor matching quiz, it provides a multitude of self-service calculators and information that readers can access themselves. A newsletter signup gets you access to regular updates on what SmartAsset offers, as well as financial news and helpful advice. 

To contact SmartAsset or SmartAdvisor as a consumer, you can email them at info@smartasset.com or call 347-789-7066. Response time is quick and you will reach a helpful human. The phone number is not easily found on the website and appears after completing certain forms.

At SmartAsset, the financial education and tools for consumers are completely free. The SmartAdvisor match-up service, which connects users with financial advisors, is also free. This provides a convenient and easy way for individuals to find the best financial advisor who meet their specific needs, without having to worry about any upfront costs. It's a valuable resource for anyone looking to take control of their financial future and make smart decisions with their money. It is important to note that while the matching service is fee-free for users, the financial advisors themselves may have their own fees for their services. 

SmartAsset Mobile App 

Although SmartAsset doesn't have a mobile app yet, its mobile-optimized browser experience works as well or better, not only for the educational tools but also for the advisor matching service. One thing that is not SmartAsset’s fault but could be confusing to customers is an Australian mobile jobs app of the same name.

SmartAsset provides a comprehensive set of benefits to its users.

• Recommendations for a financial advisor: SmartAdvisor, powered by SmartAsset, an online marketplace connecting consumers to a host of qualified financial advisors. You take a quiz and get matched with up to 3 advisors. Each of the questions asked in SmartAsset survey relates to one of four main themes: life status, advisor preferences, investment goals and advisor specialization. Your responses are shared with your advisor matches to support your initial consultation. 
• Financial literacy education: SmartAsset provides consumers with useful and accessible financial advice in a delightful manner. The website offers blogs and data-driven studies to help users make informed decisions.
• SmartAsset income tax calculator: The calculators, which form the seminal reason Founder and CEO Michael Carvin started SmartAsset, exceed expectations. For example, a person might want to figure out how much they owe in income tax for the year and what amounts of Individual Retirement Account (IRA) contributions might lower that tax bill. The SmartAsset income tax calculator figures all that out for you, lets you explore numbers and provides a short explanation of income taxes in general. That feature alone earns SmartAsset a 5-to-the-5th-power star rating for consumer user benefit.

SmartAdvisor functions like your smartest, kindest go-to friend for life advice — the one who knows just the right questions to ask and doesn’t get judgemental. The questions in the quiz ask for relevant information that genuinely affects the kind of financial advisor you’d want so you don’t end up sitting across a desk from someone you wouldn’t want to have coffee with, much less entrust your retirement portfolio.

Financial literacy categories covered read like a Certified Financial Professional (CFP®) study guide and include information and calculators on:

• Homebuying
• Taxes
• Banking
• Investing
• Credit cards
• Life insurance
• Personal and student loans
• Debt
• Retirement

The calculators include explanations of the results in addition to the hard numbers you’d expect a good calculator to yield.

The article repository SmartReads functions as a blog that explains financial concepts in understandable terms. Topics like “How Much House Can I Afford?,” “Should I Refinance My Mortgage?” or “How Much Do I Need to Save for Retirement?” are financial literacy gold.

SmartAsset vs. Competitors

Because SmartAsset offers three somewhat diverse services — consumer-written financial literacy, financial calculators and advisor matching — a wide range of firms could be considered its competitors. Competitors on the financial literacy scene include government websites like Investor.gov and robo-advisors such as Betterment, Bankrate or Personal Capital. Services like Zoe or Fidelity Investments compete in the advisor-referral business line. 

At this time, SmartAsset provides little info and no calculators for consumers to explore cryptocurrency, alternative investments or DeFi, which seems like a lost opportunity given the growing popularity and use of these exciting financial tools.

SmartAsset earns a 4 instead of a perfect 5 in part for its lack of a mobile app. Otherwise, as a financially savvy consumer, this site should be in your back pocket ready to whip out for answers to any remotely money-related question you have or calculation you need to make. The depth and breadth of its options truly astound and delight. And if you can’t figure it out for yourself, SmartAdvisor will match you with an advisor that is registered with the SEC. It can’t come more highly recommended as the place that smart consumers return to get even smarter.

Frequently Asked Questions

Benzinga is a client of SmartAsset. SmartAsset compensated Benzinga in connection with obtaining the third-party rating.