To offer small Banks and Credit Unions a stand alone investment management platform that will service and monetize current customers in a manner that many of these institutions currently are not.
Frequently Asked Questions
WHY WOULD I USE A DIGITAL ADVISOR TO MANAGE MY MONEY?
By utilizing a systematic and diversified investment strategy you can protect yourself from market volatility as well as any inadvertent over exposure to a particular asset class or investment. Over the time period you choose to invest, an algorithmic investment plan that is focused on low cost investments and that is optimized to efficiently allocate your money will be your best bet at arriving at a targeted risk adjusted return goal. We can do that for you.
WHAT ARE YOUR FEES TO MANAGE MY MONEY?
CleverAlpha charges its clients an annual management fee of 25 bps per year ($25 per $10,000 invested), but only $1 per month for accounts under $5,000; regardless of the number of times the portfolio is rebalanced and including all other fees, such as custodial or clearing fees (we take care of all that).
WHO HOLDS MY MONEY?
CleverAlpha will open up your account at TD Ameritrade/Schwab, one the country’s largest custodians. We invest your money and your securities will then be safe kept at one of the largest SIPC insured firms in the industry.
IS MY MONEY INSURED?
Since your money is held at a SIPC member Broker Dealer, your account is insured up to $500,000 by the SIPC. Learn more about what SIPC does by CLICKING HERE.
WHAT IF SOMETHING HAPPENS TO CLEVERALPHA?
You have complete control of your brokerage account, and all the securities held in your account are owned by you; so, you can liquidate and remove your money or transfer your account to another firm any time you want .
IS THERE A CREDIT CHECK INVOLVED?
No. We are not a lender but we will do a standard identification (ID) verification as required by law.
IS THERE A MINIMUM DOLLAR AMOUNT TO START MY INVESTMENT ACCOUNT?
CAN I INFLUENCE MY INVESTMENT CHOICES GIVEN MY APPETITE FOR RISK AND/OR RETURN?
Certainly: CleverAlpha provides you with the ability to dial up or dial down their portfolio’s risk and/or return profile, to better suit your desire for risk as an attempt to maximize expected return, and conversely, to de-risk the portfolio choices and lower the potential volatility in order to better target any return goals you are trying for.
HOW CAN I VIEW MY ACCOUNT AND SEE MY HOLDINGS AND PERFORMANCE?
Simply log into your account at CleverAlpha.com and you can see your Account Balance, Holdings, Performance and other useful information included monthly statements and tax reporting documentation.
HOW CAN I ACCESS MY MONEY?
Simply log into your account at CleverAlpha.com and request to sell some or all of your investment account. Taxes and penalties (by the IRS not us) may be applied to early withdraw of a retirement account, but other than that, the money will be sent via ACH back to the account where the monies initially came from if they were sent electronically or by a written request to another account.
HOW DO I GET STARTED AND OPEN AN ACCOUNT?
Simply click HERE.
DO I HAVE TO SELL MY INVESTMENTS FOR YOU TO MANAGE THEM?
Nope, just go through our quick and painless onboarding process to transfer your account and we will take care of the rest.
WILL MY CURRENT BROKER CHARGE ME TO CLOSE MY ACCOUNT OR TRANSFER ASSETS OVER TO YOU?
They shouldn’t but for sure: we won’t (there shouldn't be any penalties or charges for account transfers).
ARE THERE ANY ADDITIONAL ACCOUNT OPENING OR ACCOUNT MAINTENANCE FEES?
Nope. None. Zero.
WHAT TYPE OF ACCOUNTS CAN I SET UP?
We can manage funds for most account types, including taxable investment accounts (individual, joint or corporate/partnerships), retirement accounts like Traditional IRAs, Roth IRA, Rollover IRAs (from work sponsored plans like 401ks, SEPs or SIMPLEs), or even trust accounts for children (UGMA/UTMA).
WHAT TYPES OF INVESTMENTS WILL YOU MAKE IN MY ACCOUNT?
We will primarily invest your money in low fee ETFs; however, the industry is evolving rapidly and part of our job as your investment manager is to seek out other low fee investments that maximizes the probability of better returns; especially, if we can accomplish this with lower risk. With that said, we may possibly also utilize low expense fee Mutual Funds.
WHAT KINDS OF ACCOUNT INFORMATION WILL I SEE AND OPT TO RECEIVE?
On your account dashboard you can view your balances, holdings, performance, as well as gain access to your monthly statements and tax documentation. You do not have to opt to receive your monthly statements and necessary tax documentation, we will automatically email those to you.
CAN I UTILIZE CLEVERALPHA AS MY INVESTMENT MANAGER IF I LIVE OUTSIDE OF THE UNITED STATES?
No. Unfortunately, CleverAlpha only operates within the United States, and we cannot open an account for customers residing outside the country, including U.S. citizens residing abroad. All of CleverAlpha’s customers must have a U.S. address, a U.S. Social Security Number and fund their account from a U.S. bank based checking or savings account.