Stash Invest this week announced Portfolio Builder, a new feature of its mobile application. The tool follows what has become a pretty standard format among other digital automated investment services, aka robo-advisors. It uses a digital risk tolerance questionnaire that takes a client through the process of determining their risk. Based on this, clients are placed into one of three risk levels: conservative, moderate and aggressive.
Once that is complete, the client’s money will be place into a “group of globally diversified funds that meet your investment criteria.” Clients can open an account with as little as $5 though the firm recommends $20. The startup offers multiple subscription levels from $1 to $9 per month and multiple account types, including basic banking accounts.
The fast-growing startup currently has 3.4 million clients according to its most recent form ADV filing (up from 2.3 million in 2018), though AUM is only $824 million (up from $448 million in 2018).