How do I know OnlyFunds is legit?
OnlyFunds is an SEC-registered investment adviser, and you can see our filings on the SEC website here. Our employees have experience at some of the biggest investment banks, hedge funds, and tech startups in the world. Just to work at an investment adviser, adviser representatives must pass a licensing exam - the Series 65 - to make sure they know what they're doing.
You can also learn about how we invest your money. Spoiler alert, it involves a lot of math.
Will I get personal investment or financial advice?
Through the risk and financial profile survey, we collect data about your financial situation, investment goals, and risk tolerance. Using our algorithms, we tailor an investment portfolio that best suits you. OnlyFunds is limited to providing advice to clients solely through an interactive website by the SEC, so our financial professionals can't call or email you about the investments, but you'll be able to track them in the Client Portal.
If you invest over $1M in an account, however, you are eligible for personalized investment advice and financial planning. If you are interested in this service, please fill out the Contact Form at the bottom of the page and your inquiry will be answered.
How do I open an account?
Follow the Open Account button at the top right of your page. This will bring you to our brokerage's site, powered by Interactive Brokers, where you'll provide information to open your account. After that, you'll be able to fund your account. Once your account has been funded, your portfolio will be invested within 5-7 business days. You can always deposit or withdraw cash as needed.
What do I need to open an account?
What fees does OnlyFunds charge for managing my portfolio?
The fees that OnlyFunds charges is based on the value of your portfolio. Standard fees are equal to 1.5% of your portfolio's Net Liquidation Value annually, calculated quarterly. OnlyFunds will withdraw the fees directly from the value of the account, so you don't need to do anything. OnlyFunds aims to provide rates of return far exceeding these fees so you can watch your portfolio grow over time.
Can I reduce the amount of fees I pay?
From time to time OnlyFunds may also run promotions to discount account management fees. These include special time-boxed discount rates and referral discounts.
OnlyFunds' Refer a Friend program is not yet automated. If you wish to refer a friend, however, and they fund their account with $5000 or more, you will receive .15% off your account management fees for the calendar year (up to 10 friends per year to completely eliminate your fees). Use the contact form below with the subject "Refer a Friend -" and the email address of the friend you are referring. Upon funding of their account, your fees will be updated (or refunded if the fee rate you have would drop you below what you have paid so far that year).
Does OnlyFunds charge any fees to open an account? Close one? Withdraw cash?
OnlyFunds does not charge fees to open, close, deposit to, or withdraw from an account.