SigFig

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Contents

About

SigFig is an investing company that provides services to anyone from the small to large investor. With SigFig, the user is able to simplify investing by consolidating all of their accounts into one place. Its many features allow the user to easily view, manage, and compare their portfolio. Users are able to select an investment strategy from conservative to aggressive and then SigFig tailors the portfolio to meet the investing strategy. SigFig is inexpensive as it works to keep fees as low as possible and has a low rate of 0.25%.

History

SigFig is based out of San Francisco and was founded by Mike Sha and Parker Conrad. Sha was previously working for Amazon where he helped invent many programs including Amazon Visa Card, Amazon Prime, and several fraud detection models. Conrad previously held a marketing and strategy position with Amgen's Nephrology Business Unit and has been a lifelong investor. SigFig began as a web application that would allow users to track all of their investments as well as provide recommendations. The company has grown quickly over its life and now offers many features to manage and compare their portfolio, including mobile applications. In early 2013, SigFig reached $50 billion of assets that users use the site to track and manage.

Why Use SigFig

SigFig makes investing simple and easy. It uses science and data mining to help everyday investors invest better. Sigfig has reviewed and tracks $100 billion to find mistakes everyday investors have made. They do this to help you reach your financial goals and protect you from market uncertainty. The founders of SigFig found that many people are discouraged and annoyed with the management of their investment portfolio, having to log into multiple accounts to see how their funds are doing. Or investigating the endless options available to invest in. SigFig starts here by monitoring and even managing your investment portfolio for you.

Features:

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  • Single Portfolio Dashboard: SigFig allows you sync your 401k, IRA, brokerage accounts from over 65 different locations like E*TRADE and Vanguard
  • Compare your portfolio to your optimal portfolio: Identify what your portfolio’s strengths and weaknesses.
  • SigFig Managed Accounts: Effortlessly let SigFig professionally manage a well-balanced portfolio.
  • Charts: Easy to understand and helpful charts, to project your dividends, assess your risk ad more.
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  • IOS, Android, and Windows Phone apps: Stay connected anywhere.
  • Bank-Level Security: Your data is encrypted from login to logout. None of the employees at SigFig can see your brokerage credentials and all the data is read only, no changes can be made to your accounts from SigFig.
  • Chat with an SigFig Employee: You have expertise right at your fingertips.




Business Uses

SigFig is primarily a consumer product, but lends itself to a couple business uses. Through SigFig companies are able to advertise their financial services to SigFig companies. Brokerage, bank, and investment managers can and do use this channel to grow its customer base. Lastly, SigFig could be a tool for small businesses to manage their investments.


SigFig Walk-through

*The beginning portion of the video is from SigFig's YouTube channel.

Conclusion

"Investing is like working out, you know you should, but you can never find the right time to do it." - Mike Sha

SigFig can help you by making it easier to invest. SigFig allows you to sync all your investments in one place, making it easier to see your performance as well as make investment decisions. Lastly, if you don't want the hassle of managing your investment yourself, Sigfig can do it for you at a fraction of the cost of other management services.

F.A.Q

  1. Do I have to pay to use SigFig?
    • No, SigFig offers most of is features for free. SigFig offers managed accounts where SigFig will manage your investment for you. SigFig charges a fee for this service. Recently, Sigfig has moved to tailor its site to attract users to its managed services.
  2. How does SigFig make money?
    • Some of the advice SigFig offers, if you take the advice SigFig gets a commission. For example SigFig may suggest you switch to a different broker, because it will save you money. If you switch SigFig will get a commission. SigFig assures that its advice is objective.

Also See

References