SAN FRANCISCO--(BUSINESS WIRE)--SigFig, the fastest and most convenient automated investment service, today launched ‘SigFig Guidance’, a free investment tool specifically designed to analyze any portfolio in less than five minutes, offering unbiased, actionable suggestions to optimize returns and reduce fees. Data from the more than $350 billion in assets tracked by SigFig has revealed that more than 90% of investors have costly and easily correctable problems, ranging from cash drag to poor diversification to high fees and excessive volatility.
By simply connecting any investment account to SigFig, SigFig Guidance instantly diagnoses common problems and offers unbiased, personalized recommendations for how to manage risk, improve returns, and lower fees. Investors can also employ SigFig to manage their accounts, but the Guidance tool will offer actionable suggestions with no cost or commitment. SigFig is the largest automated advisor that uses big data techniques coupled with complex algorithmic analysis to review existing client investments and automate portfolio management. SigFig’s professional wealth advisors are also available to discuss how SigFig’s investment algorithm works at any time.
“In analyzing our extensive data, we found that almost every investor is making costly mistakes in their portfolio. Fortunately, most of these problems are easily correctable and can have a surprisingly large impact on long term returns,” said SigFig CEO Mike Sha. “We wanted to make it incredibly easy for anyone to get an unbiased checkup on their investments and to remove the agony typically involved in getting investment advice.”
The Guidance tool scans any portfolio looking for opportunities to:
- Reduce or eliminate unnecessary fees
- Improve returns caused by cash drag from uninvested cash
- Reduce exposure to excessive risk caused by high concentrations
- Improve diversification across asset classes and geographic markets
- Better manage risk to match an individual’s tolerance for volatility and investment horizon
To use SigFig Guidance, simply connect your investment accounts and answer the questions on our risk assessment questionnaire. Guidance analyzes your portfolio and your personalized report flags problematic aspects in your investments and recommends an optimized portfolio that avoids common mistakes.
“Traditional advisors often charge thousands of dollars to get these kinds of detailed insights, and sometimes aren’t truly impartial in their recommendations,” continued Sha. “With SigFig, anyone, regardless of wealth level, can get a high quality investment portfolio for a fraction of the cost. We have decided to offer free analysis to arm investors with as much information as possible to improve their performance and reduce fees.”
For more information on the data behind our analysis, please refer to our recent study: “A look at the most common — yet easily avoidable — investor mistakes”
About SigFig
SigFig was founded in 2011 to reinvent the world of investing by making it easier, more accessible, and more affordable for everyone. SigFig is the largest portfolio optimization platform in the world helping everyday investors track over $350B in assets. Through its integrations with Fidelity, Schwab, and Ameritrade, the company's algorithmic investment strategies work to analyze, monitor and improve any portfolio, automatically balancing and diversifying investments, while reducing risk and minimizing fees.
Backed by top-tier venture capital from Union Square Ventures, Bain Capital Ventures and DCM, SigFig’s technology is trusted and used by many of the largest finance portals in the world, including AOL, USA Today, CNN, and Forbes.
Useful Links
SigFig website: http://www.sigfig.com
SigFig ADV Part 2 “Brochure”: https://d1so5k0levrfcn.cloudfront.net/advisor/adv/ADV_Form.pdf
Disclosure Statement
All investments carry some degree of risk, including the risk of loss. To read more about SigFig’s risks and disclosures visit https://www.sigfig.com/l/terms
