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Schwab Intelligent Portfolios Review | Costs, ETFs And More In 2022
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- Опубликовано: 14 авг 2024
- 🔑Get your financial plan here: www.uprise.us/...
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✔️ Reviewed by a real person
In 2021, Uprise started as an idea to make premium wealth management services accessible to everyone.
Today, our company’s backed by founders and execs from places like Robinhood, Cash App and Stripe, and is trusted by employees at Google, Microsoft and Tesla, among others.
We have some pretty big plans for the years ahead, but at the moment, we’re focused on engineering the best financial plan experience in the world.
MORE ABOUT UPRISE:
HSA. FSA. IRA. 401(k).
Pretty often, the world of personal finance feels like you’re sifting through a messy brew of alphabet and numerical soup.
At Uprise, we’re committed to fixing that.
We’re a VC-backed startup that builds financial plans. Each that we design is Wall Street-level, fully personalized.
We leverage both powerful tech and human expertise, which means there’s a real person reviewing your plan. Our team has had experience on Wall Street, working at hedge funds and investment banks. We also have backgrounds in tech, building products like Facebook, Robinhood, Justworks, Wise and Earnin.
We’re backed by executives and founders from Robinhood, Cash App, Stripe, SoFi, Gusto and Clarity. We’re also trusted by employees at Google, Microsoft, Tesla, Carta, McKinsey & Company and Harvard University.
When it comes to wealth and money management, we always strive to be as comprehensive as possible for the people we serve. Topics we cover: employer benefits, retirement, credit cards, saving, investing, student loans, banking, credit unions, stock options, startup equity, robo-advisors, Roth IRA, real estate, mega backdoor Roth, traditional IRA, 401(k) rollovers, minimizing taxes, Fundrise IRA and more.
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ABOUT JESSICA:
Hey guys!
My name is Jessica Chen Riolfi. I used to work on Wall Street at J.P. Morgan, but eventually decided to make the transition over to Silicon Valley.
Since then, I’ve worked for well-known fintech companies (Robinhood, Earnin, Wise), and I’m currently the Co-founder and CEO of Uprise.
Here on RUclips, we share new videos every week. We mainly focus on finance and career for young professionals, and if there’s ever a topic you’d like us to cover, we’d love to hear from you (we read and respond to every comment).
Thank you so much for taking the time to visit our page. We really appreciate it, and hope we can become your biggest supporter on your financial journey.
Jessica
SUMMARY
Back in January, I gave you guys my thoughts on Vanguard Digital Advisor, in it, I mentioned having strong opinions on Schwab's competitor product, Schwab Intelligent Portfolios. So here I am, in this video I'm going to review Schwab's robo-advisor service. I'm going to break it down, asset allocation, fees, everything, and try to get to a conclusion on whether this is a service you should use to manage your money or if you should pass on it.
LINKS
► Schwab Intelligent Portfolios - go.uprise.us/M...
CHAPTERS
0:00 - Intro
2:53 - Getting started & Features
5:38 - Asset allocations
9:32 - Fees
10:44 - Other features
13:59 - My recommendation
15:00 - Conclusion
![Charles Schwab Intelligent Portfolios Review [Is it really amazing?]](http://i.ytimg.com/vi/h5cpchmzbgQ/mqdefault.jpg)
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
I feel your pain mate, as a fellow retiree, I’d suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $30k in value stocks and digital assets, Up to 200k so far and pretty sure I'm ready for whatever comes....
@@Elliot-Ivan That's actually quite impressive, I could use some Info on your FA, I am looking to make a change on my finances this year as well
@@leoma-l7r My advisor is VICTORIA CARMEN SANTAELLA;
You can look her up online
@@Elliot-Ivan The crazy part is that those advisors are probably outperforming the market and raising good returns but some are charging fees over fees that drain your portfolio. Is this the case with yours too?
I've spent the weekend watching several of your RUclips videos. They are very informative. Thanks Jess!! The one on Schwab Intelligent Portfolio was timely for me. I'm a TD Ameritrade customer so by default I'm becoming a Schwab customer and they are trying to sell me their products. I had the same concerns as you regarding "Zero Fees" and their fixation on cash as a part of "any good plan." Your video validated my concerns. HOWEVER, every one of your videos claims the same thing, right? "We put together Wall Street level, personalized financial plans 100% FREE!" So, my question to you is: How does Uprise/Ontrail make money? Thanks! FYI, I am very interested in your services. However, like the Schwab Intelligent Portfolio claim of "No Fees", I've skeptical of your claim, as well. Should I be concerned?? Thanks Jessica!
I used them for 4 years but got out last December. The returns averaged 1/2-1/4 of any index. We're 68 and been retired for 7 years, i can afford higher risk and these seem to offer low rewards without being low risk. For example in the 20 ETF's they put in our portfolio there were a couple of emerging markets funds, high yield bonds, MBS fund, and don't forget the large cash component earning 0.45% interest. I decided to go back to managing my own, but don't want to spend the time on individual stocks again. We put 80% in stock etf's, small cap US, US large cap dividend, US large cap growth and 20% in Money Markets and currently earning 5.22%. The good thing is money can now be moved on a daily basis if i want to, but I'm completely happy that my wife can just leave everything where it is if i kick the bucket early.
When you say decided to go back to managing your own, did you move to another broker or did you stay with Schwab and just drop the intelligent? I’m 59.5 and looking at options to rollover
@@manvanross I stayed with Schwab, and even use their etf's. I reduced the number of funds from 20 to 4, plus we keep 3 years of withdrawals in a cd ladder and money market. We have 10% fundamental US small cap, 20% fundamental Global large cap, 20% US large cap dividend, 35% US large cap growth and 15% money market/CD's.
The interest rate is now 4.40% APY, does that change your opinion of it?
I just spoke to two different Schwab reps. Both said that the cash portion of the Intelligent Portfolios are held in sweep accounts paying only a measly 0.4%. I think it is how they offer the service for free.
The cash allocation is a huge issue. I'd like to see a hybrid between self managed and intelligent portfolio; autopilot, but can go cash like self managed if you feel like it and or create a partition to trade within.
Thanks for this video! Was going to open a Schwab investor just for travel. But never realized their cash retention!
I thought that was a good call on being aware of how much of your Intelligent Portfolio is kept in cash. 6-8% can be a lot if they are paying low interest. However, I just checked my Schwab Intelligent Portfolio and the "Effective July 3, 2023, the current interest rate is 4.67% APY". This is actually a very good return for cash, with zero risk. So, I would say your point does not currently hold. I appreciate your video.
I just spoke to two different Schwab reps. Both said that the cash portion of the Intelligent Portfolios are held in sweep accounts paying only a measly 0.4%. I think's how they offer the service for free.
@@terrywawro2951 That is disappointing, and confusing. Because when I click on the page regarding cash for more details it shows the higher percentage.
@@terrywawro2951you’re simply wrong. The cash sweep interest is pegged to the rate of the SWGXX money fund. It’s almost 5% right now. They earn money on the operating expenses you pay to hold the etf’s that comprise the portfolio.
How can you say what they are doing is sneaky when they literally disclose it to you? 9:48
You explain things super clear, very easy to understand. Quick question now, is all this towards “retirement”? Why everything is related to when you going to retire, how many years and how much will you need ?…. Isn’t there something like “I invested today and next month I made gains well I want to use it now and enjoy it as I want” ?????
I use to have money in the intelligent portfolio for years set in the most aggressive setting and it didn't make a dime. I actually lost money over the past 5 yrs. I DO NOT recommend it. Buy a couple large cap growth ETFs instead. Vanguard, Invesco, ect. Trust me. The intelligent portfolio is garbage as far as I'm concerned.
Thank you for sharing this very important info!
I would focus on the fact they value tilt and invest heavy in factor funds.That would affect more the portfolio than cash.
Great point! Thanks for sharing
The huge cash allocation is really bad. A person is just better off investing into SWTSX monthly for an IRA.
I’m very glad I watched this video. I’ll be honest at first I was hesitant but no you broke it down beautifully
But if I make a lot of money for example 500,000 USD a year would it really matter to have 6% of my investment in cash with Schwab? In other words do you think it mitigates the 6% cash if you are wealthy? Or do you think still Schwab intelligent portfolio does not make sense.
It depends more on your goals than how much you make. If you’re super wealthy and your goal is to preserve assets (rather than trying to grow them), then a larger % of cash in your portfolio might make sense. Though even then, I’m not sure keeping that cash with Schwab is the best idea versus getting a much higher interest rate in a savings account somewhere else.
I was going to use this until I saw how much they make you keep in cash. What a drag! thank you!
This was the information i was looking for. Thank you.
What if you are near to retirement and are looking for an income portfolio? Is 6% cash still too much.
6% cash is a lot for someone in the early stages focused on growing their account, but isn’t too high if you are nearing retirement and looking for a more conservative portfolio!
I don’t mind that they do that. Mine personally has really nice gains. It all makes sense for me since I have other accounts with them too.
That's great!
Thanks for the video. I think I will do the same. Half money into the portfolio and the rest into two funds. Basically reaching a goal of reducing the overall cash percentage from 6 to 3. Still ok to have cash even tho it’s a low interest rate. Good thing is that it’s apy and rn it’s at 3.3%
I definitely mind that they want 6% of the portfolio when it’s not in my best interest.
I'm about to dump mine. Have had it for 6 years and my self managed taxable account is earning double with less than half of the IP account value in it. I'm trying to retire earlier than the IP is set to as a goal so having cash do nothing isn't helping at all.
It's good that you're noticing this now and considering your options. If you need advice on next steps reach out to us - we offer financial plans and advice for free! app.uprise.us/ask-us-anything
After watching this video. I’m thinking to move out of the robo and just buy etfs myself.
Thank you so much for this video. Helped me and my GF a lot!
On $100,000 that is one $6,000? To small an amount to be concerned about for a free service
Thank you for this video! So what are other Scwhab products that you like more or would recommend?
I just spoke to two different Schwab reps. Both said that the cash portion of the Intelligent Portfolios are held in sweep accounts paying only a measly 0.4%. I think it is how they offer the service for free.
They changed their sweep program on Intelligent Portfolios. They now match the Schwab Government Money Fund which is 4.98%
Thank you for the review. Helped me a great deal
Thank you for the very detailed information. 👍
Thank you for this review.
If I’m a dividend investor meaning 70% of my investments are intended to build a dividend portfolio then what would be the point of using a robo advisor?
Dividend investors know what they are doing in terms of the yield/growth tradeoffs at low/mid/high yields. I know I do and I'm pretty sure you do, too.
Most robo advisors put a huge chunk into bonds minumum 10%. These bonds have been crushed as of late because interest rates have gone up. I think if Schwab can get the market rate for treasuries it would be a good cash allocation. Buffet said 90% stock 10% short term treasuries
Is it still 6% in cash or did they raise it to 8.5%? Would they chang that if you had made an accout before the increase?
According to their website, it still says 6% cash. Where did you see 8.5%?
@@uprisemoney when i was signing up for it ...sneaky sneaky
@@Ocd57nZn Ah, good to know!
this video was very helpful and informative for me :)
Thank You
Which brokerage has the highest apr %
What do you think about SCHD vs Intelligence?
Schd is a dividend etf. Totally different animal.
Schwab ETF's are very cheap actually...
But I agree, there's too much allocated to cash in these portfolios
Good point!
Schwab does have low cost etfs and uses some of them in these portfolios. However they alao have unnecessarily expensive etfs they also use. I tried Schwab Intelligent Portfolios and it generated the most expensive portfolio of any accounts i have. The advice to avoid Schwab Intelligent Portfolios is excellent advice, imo.
I agree. Schwab's SCHB has a 0.03% expense ratio. The Vanguard equivalent is VTI with an expense ratio of 0.03%.
For Schwab's international ETF, they have to SCHF with an expense ratio of 0.06%. Vanguard's equivalent is VXUS with an expense ratio of 0.07%. Therefore Schwab's international is lower. Another thing to note is SCHF only has 5% into emerging markets. VXUS hovers around 25% allocation into emerging markets.
@@garyb711 totally agree with this. I had a portfolio with this service cause I didn’t know diddly about investing at the time. Now I know a bit more and I went to check all the expense fees. Some, like you said, not bad! But some were like 0.2% to 0.3%! Which to me is much too high.
thanks for the review, i think the big cash portion is a big nono, i want to sign up for the uprise, but it says couldn't serve due to saved up too much. hopefully one day can talk to you guys, love personal finance topics.
For years I struggled with outstanding debts, bills and my children's school fees. I was at a point where I wanted to give up. I came across every RUclips channel about how to make and multiply your income through passive income. Fortunately, I had saved some money and decided to start an investment, Now I have bought my second house already, earn on a monthly through passive income and got 4 out of 5 goals,just hope it encourages someone that doesn’t believe in investing..
Nice one Vic.Any investment tip?. I would love to know how you made it this far
@Vic Vic That’s great , your investment advisor must be really good,I have seen testimonies of people using the help of investment advisors in making them more financial stable. Do you mind sharing more info on this person?
@Vic Vic I have had the intentions of starting investing. But I always thought it was late and I think I need to stop procrastinating. I will definitely 🔍 Regina Louise Collaro and see what she can advise .Thanks a lot . This was of so much help to me
@Vic Vic You are right, I am one of many who has benefited from investing with Regina Louise Collaro. 2020 is an unforgettable year in my life, back then I lost my job due to covid and had no reason to live. Regina made a good life possible for me through passive income and I owe her my life. To be honest, I feel like she is an angel of who was sent to help those who are suffering financially.
Schwab, with this same product, was hit with SEC charges last year. Cause of this... I'm very wary of any type of "robo-advisor".
It was mostly due to their disclosures surrounding the "no hidden fees" claim. Unlike other robos, they don't charge a management fee. As Jessica notes in the video, they make more off the interest on the cash slice. But there's good news. They've recently been ponying back a much higher % of that interest on the cash back to us customers. It's much better now. I myself am moving some cash over to SIP since I do feel I could still benefit from a value tilt + some cash to auto-rebalance and buy more stocks when the market dumps.
EDIT: And I think the way she lays it out at the end is spot on. It's why they got fined.
I wish that I viewed this video before rolling over my 401k into the intelligent portfolio. 😂 As you mentioned the large cash allocation is a minus . On top of that you may not want your money invested in reits or mortgage backed securities or international securities especially during a time of global financial turmoil. As you can obviously see I’m not happy with my decision and I’m researching my options
If you need advice for your situation reach out to us! app.uprise.us/ask-us-anything
You can exclude up to three funds from your portfolio
SIP now has a cash allocation APY that is based on SWGXX - it's 4.67 APY as of July, 2023. Thoughts?
Is there proof that your money really grew with AI?
Okay uprise is NOT completely and 100% for free. I guess things have changed