September 25, 2023


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Get Paired With a Devoted Monetary Planner

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Most life choices embody a monetary facet, which implies you may want a monetary planner in your nook in some unspecified time in the future. In case you’re not comfy navigating investing and large monetary choices by yourself, Side Wealth can give you steering. Side Wealth goals that can assist you put money into each side of your life, no matter your circumstances, belongings, or portfolio dimension.

Established in 2016, the corporate believes monetary planning ought to be accessible to everybody and supplies unbiased digital monetary planning from a crew of greater than 100 licensed monetary planners (CFPs). CFPs have a fiduciary obligation to behave of their purchasers’ finest pursuits.

Side Execs & Cons


  • No minimal account dimension
  • Free preliminary session
  • Private advisor to assist along with your present and future plans
  • One mounted charge primarily based in your wants
  • Skilled advisors with the very best certification
  • One platform with all the things it’s essential to navigate your funds
  • 4 digital conferences a yr at your comfort by way of cellphone or video convention
  • No beginning charges or cancellation charges
  • Obtainable in all 50 states, plus the District of Columbia, Puerto Rico, and the U.S. Virgin Islands


  • No in-person conferences – on-line solely
  • As a result of the charge varies primarily based in your circumstances, it is troublesome for patrons to estimate value upfront
  • Could also be costly for these with smaller portfolios
  • Particular dealer accounts required

Who Is Side Wealth For?

Facet WealthSide Wealth is finest for individuals who want monetary recommendation however do not need to pay excessive charges. Conventional monetary advisors usually cost a administration charge of 1% (or greater) primarily based in your belongings. Side Wealth fees a flat charge with no shock charges.

In case you favor a no-commission system, Side Wealth could also be excellent for you. Conventional advisors could add charges for suggesting providers and merchandise and buying and selling securities. Side Wealth supplies recommendation inside your plan with out commissions.

Side Wealth is probably not for everybody. Newbie traders could not must pay for years of recommendation or particular providers. Small traders could also be higher served by low-cost robo-advisor providers that present funding administration on small account balances. Nevertheless, Side Wealth generally is a main useful resource as soon as your belongings have grown and extra steering is required.

One other group that won’t want Side Wealth are self-directed/do-it-yourself traders and monetary planners, who could not require paid recommendation for managing their investments and different funds.

Learn extra >>> Greatest Robo-Advisors for 2022

How Does Side Wealth Work?

You begin by filling out the schedule request for a digital session on the Side Wealth web site. The session could final round half-hour by way of video or cellphone name. As soon as signed up, Side will ship you a packet describing how Side Wealth works, the rules, and what they’ve to supply primarily based in your monetary scenario and preferences.

You will additionally fill out a questionnaire which covers info corresponding to your loved ones, present funds, and future monetary targets. This info shall be displayed in your dashboard to help in maintaining all of your info in a single location.

Based mostly in your session, a CFP will contact you to debate your monetary scenario and future targets and expectations. That is the place the extent of service you want shall be decided. Your CFP will create a “monetary blueprint” exhibiting your steered private monetary plan and future targets.

There shall be a number of conferences along with your CFP for the primary few months to make sure that your investments are arrange accurately. As soon as settled, you may have entry to your CFP everytime you want them, or no less than each six months, for a briefing. Critiques by your CFP could happen extra regularly in case your targets change or the situation of the market adjustments.

Remember that your plan could solely permit for a sure degree of data. When you have questions that transcend your service degree, you’ll want to alter your plan.

Side Wealth will use your chosen danger ranges (aggressive, reasonably aggressive, average, conservative) to find out your portfolio. Low-cost mutual funds and trade traded funds (ETFs) would be the main investments. Nevertheless, it’s possible you’ll be allowed to make use of particular person shares and bonds with discretion.

Learn extra >>> Decide Your Threat Tolerance

What Makes Side Wealth Nice?

Listed here are a number of of the the reason why you may need to contemplate signing up for Side Wealth:

Complete Funding Administration

Like most funding advisories, Side Wealth supplies direct administration for taxable brokerage accounts and particular person retirement plans. These embody conventional and Roth IRAs, SEP and SIMPLE IRAs, and solo 401(okay) plans.

And whereas they don’t present direct administration of employer-sponsored retirement plans, like 401(okay) and 403(b) plans, they provide funding suggestions. You’ll be able to act on these suggestions inside your employer plan to combine them along with your total funding plan higher.

As well as, taxable funding accounts robotically embody tax-loss harvesting to attenuate the tax legal responsibility generated by funding actions.

Learn extra >>> Which Retirement Account Is Greatest? A Comparability of Plans

Advisor {Qualifications}

All Side Wealth advisors are licensed, monetary planners. Whereas this can be a widespread requirement at many monetary advisory companies, there are additionally many corporations whose staff primarily goal to promote firm merchandise.

Side Wealth advisors act as fiduciaries. This is a crucial distinction with any funding service you need to use. A fiduciary is legally certain to work within the shopper’s finest pursuits and never their very own or their employer’s.

Fiduciary standing means the advisor cannot favor merchandise provided by the employer or make trades to generate further charge revenue.

Flat charges

A significant promoting level of Side Wealth is that they provide flat charges. A flat charge is the most affordable choice for a lot of customers. Not like customary charges primarily based in your asset steadiness or the fee your advisor earns, you’re solely paying a charge primarily based on the help you want to your funding administration and repair degree.

Your charge will is set as soon as your CFP determines which degree is required to your monetary scenario. As your investments develop, you received’t have to fret about rising or hidden charges except you add further providers.

Useful Dashboard To See All Your Funds in One Place

Gaining access to all of your funds in a single place makes all of the distinction. Side Wealth supplies your monetary blueprint and hyperlinks to your monetary accounts on one platform. That is particularly useful to these with a number of accounts with numerous platforms and suppliers. The dashboard makes it some extent to indicate achievements like assembly emergency fund targets, financial savings charge, and credit score rating to provide you a greater understanding of your monetary profile.

Tailor-made Planning

Whereas some corporations could supply robo-advisor providers solely, Side Wealth supplies every shopper with their very own monetary advisor. Whereas it’s essential to develop your investments and canopy your long-term targets, Side Wealth additionally focuses on short-term targets.

For instance, in the event you’re planning to purchase a home quickly or want to repay your debt, your advisor can present a technique to maneuver your cash towards assembly your targets in much less time.

Some providers that Side Wealth supplies embody:

  • Asset administration
  • Retirement planning
  • Earnings tax planning
  • Life planning
  • Inventory choice plans
  • Debt administration and discount
  • Training planning
  • Legacy planning
  • Retirement revenue
  • Property planning
  • Insurance coverage planning
  • Account administration for taxable brokerage accounts and self-directed retirement plans, together with conventional, Roth, rollover, SEP and SIMPLE IRAs, in addition to solo 401(okay) plans
  • Administration help with employer-sponsored plans, like 401(okay) and 403(b) plans

What Are Side’s Drawbacks?

No Face-to-Face Contact

Though Side Wealth affords human CFPs, it doesn’t present in-person help. Nevertheless, video chat and cellphone calls could also be sufficient. However in the event you favor talking with somebody to go over your funds in individual at any given second, there could also be higher choices than Side Wealth.

Restricted Funding Accounts

Your cash should be held at sure brokers solely. To be able to handle your investments by means of Side Wealth, your portfolio should be at both Constancy, Apex, Schwab, or TD Ameritrade. In case you don’t have already got a portfolio by means of a kind of brokers, you’ll must switch your present accounts to considered one of these 4 platforms.

 Flat Charges May Be Proportionally Extra Costly for Smaller Accounts

For essentially the most half, flat charges are a promoting level of Side Wealth, particularly for somebody with many belongings. Most corporations cost primarily based on belongings below administration, making a flat charge the higher choice. Nevertheless, if in case you have fewer belongings, it’s possible you’ll pay a better charge on a share foundation.

For instance, a robo-advisor may cost 0.25% yearly or $375 on a $150,000 portfolio. Since even the bottom Side Wealth subscription charge is $2,000 yearly, it can quantity to 1.33% on a share foundation.

It is Laborious to Decide Future Prices

Side Wealth affords seven ranges of service. Your degree of service is taken into account a subscription and shall be billed to you month-to-month, quarterly, or yearly prematurely.

Since charges are primarily based on the extent of service, determining precisely how a lot you may be paying might be difficult to find out upfront. Not understanding how a lot cash they’re going to must pay for one thing sooner or later can deter folks from transferring ahead.

The price of Side Wealth’s providers depends upon the providers it’s possible you’ll want. Charges can vary from $2,000 per yr to $6,000 per yr. Sadly, the corporate doesn’t present a broadcast itemized record of the charge construction for every of the seven service ranges.

Contact Side Wealth

All purchasers could have a direct line of contact with their CFP.

Greatest Alternate options To Side Wealth

If Side Wealth isn’t the suitable monetary advisory for you, listed here are a number of options to contemplate.


Betterment is an automatic on-line funding service you may need to contemplate if you’re solely excited by funding administration. There’s no minimal steadiness required to take part, and it supplies complete funding administration at an annual charge of simply 0.25% of your portfolio worth.

Betterment supplies entry to a crew of licensed monetary planners by means of its Betterment Premium service. Not solely does it present direct administration of particular person retirement accounts and taxable funding accounts, however it additionally supplies recommendation for employer-sponsored retirement plans. Property planning providers are additionally obtainable. Premium requires a minimal portfolio dimension of $100,000 and comes with an annual administration charge of 0.40%.

Learn extra >>> Betterment Evaluate 2022

Vanguard Digital Advisor and Private Advisor plans

Vanguard isn’t simply the world’s largest supplier of mutual funds – and the second-largest supplier of ETFs – it additionally supplies dealer providers and two totally different advisory providers.

Very similar to Betterment, Vanguard Digital Advisor is a robo-advisor centered on offering direct administration of your investments. That features taxable funding accounts and IRAs, although they can even present steering – however not direct administration – of employer-sponsored retirement plans. The service requires a minimal funding of $3,000. And although there isn’t any annual administration charge, funding bills common roughly 0.15% of belongings below administration.

However if you would like a extra hands-on degree of wealth administration, Vanguard affords its Personal Advisor plan. It supplies a mixture of robo-advisor administration with human oversight. That features limitless entry to human, monetary advisors. They’ll handle your taxable funding account and IRAs and supply recommendation on employer-sponsored retirement plans. Private Advisor requires a minimal of $50,000, with an annual administration charge of 0.30%.

Private Capital

This digital cash administration platform summarizes your spending, targets, and investments in a single place. The corporate additionally supplies paid entry to monetary advisors to handle your belongings below their Wealth Administration program. There may be an annual administration charge of 0.89% of belongings below administration, and you have to have a minimal of $100,000 in your portfolio to take part.

Learn extra >>> Private Capital Evaluate 2022

The Backside Line

In case you assume your funds may use some assist, you possibly can schedule a free session with an advisor at Side Wealth. A free session will can help you have your funds analyzed to find out if Side Wealth is the suitable selection for you. Arrange the session, see what they give you, and determine if it’s the best way you need to go.

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