FREQUENTLY ASKED QUESTIONS
Is OnlyFunds an SEC-registered investment adviser?
OnlyFunds is an SEC-registered investment adviser, and you can see our filings on the SEC website here. To become an investment adviser, a firm must register with either state authorities or the SEC, and any representatives of the firm must also pass the series 65 exam or equivalent and register as investment adviser representatives.
Still want to know more about us? Learn more about how we invest your money here. Spoiler alert, it involves a lot of math.
So how does this all work?
Its pretty easy! When you open an account, you will be prompted to answer some questions about your current finances and your goals. You'll be prompted to link a bank account and deposit money into your OnlyFunds account. Using the info you provided, we automatically invest you in a portfolio that matches your goals and risk tolerance.
From there, we will track progress toward your goals, rebalance your portfolio as needed, and try to optimize your capital gains tax, all without you lifting a finger.
The entire process takes around 5 minutes!
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 to best suit you. Because OnlyFunds has chosen to register with the SEC as an 'internet advisor,' we are limited to providing advice to clients solely through our interactive website, so our financial professionals can't call or email you about your investments. Still, you will be able to track them in the Client Portal.
However, if you invest over $1M in an account, 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 we’ll respond to your inquiry.
What do I need to open an account?
How do I open an account?
Follow the Open Account button at the top right of your page. This will bring you to our affiliated brokerage’s site, powered by Betterment, 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 1 business day. You can always deposit or withdraw cash as needed.
What fees does OnlyFunds charge for managing my portfolio?
OnlyFunds charges fees based on the value of your portfolio. Standard fees are up to 1.5% of your portfolio's Net Liquidation Value annually, calculated quarterly. This fee is inclusive of any sub-advisory fees charged by our affiliated brokerage, Betterment. We will withdraw these 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 that you can watch your portfolio grow over time. OnlyFunds reserves the right to negotiate lower fees on a per-client basis.
How can I see the performance of my portfolio?
You can see the performance of your investments over time by logging into our Client Portal.
Can I reduce the amount of fees I pay?
From time to time OnlyFunds may run promotions to discount account management fees. These include special time-boxed discount rates and referral discounts.
You can also reduce your fees through OnlyFunds' Refer a Friend program. If you refer a friend, and they fund their account with $5000 or more, you will receive 0.15% off your account management fees for the calendar year. You may refer up to 10 friends per year to completely eliminate your fees. Until the Refer a Friend program is automated, please 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. You may close your account at any time in the Client Portal.