Best Investment Apps | The Financial Tools We Recommend
Here at Investor Junkie, our writers test many financial services. There are so many investment tools on the market that it can be quite confusing. We want to tell you from our research which ones we think are best. In most cases, we not only recommend these investment tools, but we use them ourselves.
Here are our recommendations:
In selecting these financial tools or investment services, we had the requirement that they must help either increase your investment returns, decrease your expenses and/or improve your asset allocation.
We’ve created the following as a shortcut for your investing needs, but this doesn’t mean we didn’t fully test out these services. With most of the apps listed, we’ve done an in-depth review. So please also read the full review to find out why these services are on our recommendation list.
Not only do we share which ones are the best, but we explain why they’re the top in their industry and what makes them so helpful. Of course, this is all from our perspective and personal experiences.
Advertisement
Best Personal Finance Software – Personal Capital
RecommendedRating:
9.5/10Quick SummaryMinimum Investment: $100,000Fees: Wealth Management: First $1 million: 0.89% ; $1-3 million: 0.79%; $3-5 million: 0.69%; $5-10 million: 0.59%; Over $10 million: 0.49%401(k) Assistance: YesVisit Personal CapitalIf you are looking for a free web-based app that focuses on investing, then Personal Capital is the best option. Not only does this app allows you to track expenses, but it also helps review your investing plan.
Personal Capital gives you a holistic view of your finances, showing you the “big picture” of your financial life. With excellent customer service, robust security and reporting capabilities that its competitors just can’t beat, Personal Capital is an excellent tool in your financial arsenal. Also, Personal Capital’s premium service offers financial advisors to guide you with your investment planning needs. Sign up to Personal Capital.
Best Investing for Beginners – Betterment
RecommendedRating:
9/10Quick SummaryMinimum Investment: $0Fees: Digital – 0.25%/year; Premium – 0.40%/year401(k) Assistance: YesVisit BettermentIf you are concerned about high fees, proper asset allocation and whether a financial advisor has your best interest at heart, Betterment is the best solution to make investing easy. This service is excellent for investors who want investment guidance in an automated fashion, and at a much lower annual fee than traditional financial advisors.
Betterment focuses on your investing goals and hides the technical details on how to invest. This kind of focus is perfect for beginners who don’t want to mess around with stock picking and instead want to invest for retirement. Start Investing With Betterment.
Best Budgeting Software – YNAB
RecommendedRating:
8.5/10Quick SummaryPrice: $6.99/monthBudgeting: YesInvestment Monitoring: YesVisit YNABYNAB is an online app that does one thing — budgeting — and does it well. It is an easy-to-use personal finance management tool that links all your accounts in one place, tracking your spending over time. (However, if you are looking to track your investing, Personal Capital is a better bet.)
Previously, we recommended Quicken but have decided to recommend YNAB instead because Quicken had many synchronization issues with banks and a share of poor customer support issues over the years. Plus, the future of personal finance is online, not tied to a desktop. Get Started With YNAB.
Best Microsavings Service – Acorns
RecommendedRating:
8.5/10Quick SummaryMinimum Investment: $0Fees: $1/month under $1 million; 0.25%/year over $1 million; FREE for under 24 and in college; IRAs are an additional $1/month; $3/month for Spend and LaterWebsite Access: YesVisit AcornsTypically, when you are just starting off saving, you don’t have enough money. To get you on the path of not only saving but also investing, you need a service that makes it as painless as possible.
Acorns is that service. Once you link up your credit card, Acorns will round up each transaction to the nearest dollar and invest the difference. While not as ideal when compared to Betterment, Acorns is targeting primarily Millennials just starting with little money to save. Start With Acorns.
Best Overall Brokerage Firm – TD Ameritrade
RecommendedRating:
9/10Quick SummaryMinimum Investment: $0Stock Trades: $6.95/tradeOptions Trades: $6.95/tradeVisit TD AmeritradeTD Ameritrade has long been a major player in the stock broker industry. It offers a great selection of investment options, along with a variety of helpful investing tools. Plus, there’s no required account minimum and the pricing is straightforward and relatively low.
Plus, TD Ameritrade has brick-and-mortar locations across the country, so you can always stop in a branch office if you have a question.
Overall, this broker offers a great value for all of the tools and resources that it offers to help make investing easy and straightforward. Start Investing With TD Ameritrade.
Best Discount Broker – Ally Invest
Rating:
8.5/10Quick SummaryMinimum Investment: $0Stock Trades: $4.95/tradeOptions Trades: $4.95/tradeVisit Ally InvestAt $4.95 a trade, Ally Invest is one of lowest-cost brokerage firms with no hidden fees. A while ago, the service used be called TradeKing. Now that it has merged with Ally Bank, Ally Invest has all of the same features as before, plus banking.
When Ally was TradeKing, it was ranked #1 by SmartMoney for customer service. I have found it to be among the most helpful customer service experiences I have had with a discount broker. Ally Invest also offers a comprehensive education center with helpful webinars and information on all the investments it provides. Sign Up to Ally Invest.
Best Investment Research – Morningstar
RecommendedRating:
8/10Quick SummaryVisit MorningstarFor those looking to research mutual funds, ETFs or stocks, Morningstar is a great resource! The website does not offer technical charts advising when you should buy and sell, but instead provides you with information about proper asset allocation, low fee investment vehicles and investments that generate consistent returns.
Every Morningstar investment review includes an analysis to give you the pros and cons. The service has a super-useful X-ray tool that ensures you aren’t over-allocated in a specific sector or stock and a Cost Analyzer to help you choose one mutual fund or ETF over another. Free membership is available, but we believe the premium membership is well worth the cost as you will likely make it up quickly in investment returns. Its Portfolio X-ray tool is second to none for usefulness and has some of the best investment research available. Read Our In-Depth Review.
Best Banking App – Chime
Rating:
6.5/10Quick SummaryAccounts: Checking, SavingsAccess: Website, iOS App, Apple Watch, Android AppOnline Deposits: YesVisit ChimeChime may not offer high interest-bearing accounts or pay your bills for you. However, what it does offer is a no-nonsense banking app that’s perfect for anyone who wants a no-muss-no-fuss account. It’s ideal for anyone with an uncomplicated money situation.
You’ll never be charged a monthly fee for banking with Chime, and there’s no minimum required to open an account.
The Chime app is seamless and straightforward. You can use it to set up a cash-back reward program that can help you save when you shop with many popular retailers and restaurants.
Millennials, this bank is for you! Open a Chime Account.
Best Accounting Software – QuickBooks Online
RecommendedRating:
9/10Quick SummaryPrice: $15.00 - $50.00/monthInvoicing: YesBank Reconciliation: YesVisit QuickBooks OnlineQuickBooks Online is very easy to use and is perfect for most small business owners. My company has used QuickBooks for over 10 years. In my opinion, the features where QuickBooks shines are in payroll, invoicing, collections and banking.
QuickBookss customer service is outstanding (which can come as a surprise if you’ve used other Intuit products). This is especially helpful for the small business owner without an accounting background. The online version may be better than the desktop version, with full capabilities and a vast array of features.
QuickBooks is the most popular accounting software for a good reason. It supports 18,000 different financial institutions and easily syncs with your business checking account.
Not sure if Quickbooks is right for you? QuickBooks Online Has a 30-Day Free Trial.
Leave a comment