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Webull Smart Advisor Review (2024)
Does Webull have a robo-advisor service in 2024? Is Webull offering managed accounts?
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Webull Smart Advisor Review: Key Findings
- Smart Advisor is Webull’s automated-investing service.
- ETFs from State Street with low expense ratios are traded in Smart Advisor.
- Webull charges 0.20% annually for its robo accounts.
Webull Smart Advisor Overview
If you’re looking for an investment advisor to make trading decisions in your brokerage account at low cost, Webull may have an answer for you. The company’s Smart Advisor accounts use a software program to buy and sell securities. Here’s the full scoop:
Investing Program
Webull’s Smart Advisor is a robo advisor that trades low-cost ETFs. No other asset classes are available. Most of the funds are from State Street Global Advisors, the famous company responsible for the SPDR® funds.
Some of the ETFs will contain stocks, while others will focus on fixed income. Accounts with higher risk tolerances will be invested in a greater percentage of equities. There are six general investment approaches to achieve the right mix:
- Maximum Growth
- Growth
- Moderate Growth
- Moderate
- Moderate Conservative
- Conservative
Here are some example ETFs from State Street that Webull could employ:
| Ticker | Fund | Expense Ratio |
|---|
| SPMD | SPDR Portfolio S&P 400 Mid Cap | 0.03% |
| SPEM | SPDR Portfolio Emerging Markets | 0.07% |
| BILS | SPDR Bloomberg 3–12 Month T-Bill | 0.135% |
Webull’s automated-investing program is completely electronic. There are no human financial advisors in any capacity, which results in very little help and guidance. However, fees and minimums are very low.
Fees and Minimums
Webull charges just 0.20% per annum for its investment management in Smart Advisor. Currently, the investment firm is waiving this management fee for the first 6 months. Expense ratios from the funds used in the program are always assessed, although these are typically fairly low.
There is a $100 minimum deposit requirement to start investing with Webull’s robot.
Webull Promotion
Visit Webull Website
Opening a Webull Robo Account
Full-time U.S. residents age 18 and over are eligible to open a Smart Advisor account. During the
application, an online questionnaire must be taken to establish the account’s risk level. It takes just a few minutes on the mobile app to go through the questionnaire. Here are some example questions we were given:
- Which age group do you belong to?
- If your investments went down 20%, what would you do?
- How much investing experience do you have?
In total, we were given just 7 questions, which we consider to be very brief. The risk assessment can be retaken during the application (look for the “re-assess” link). Once it is submitted, it can be retaken once every three months.
After completing the questionnaire and before getting to the actual account-application page, one of the six investment risk levels must be selected. It’s possible to select one level higher or lower than the level that Webull recommends. When we took the questionnaire, all three levels had a 2% cash position and a 3% position in GLD, the SPDR gold fund.
To find the Smart Advisor application, open Webull’s mobile app and tap on the Menu icon in the bottom-right corner. On the Menu page, select the Robo icon and follow the on-screen prompts. The questionnaire is integrated with the account application.
Deposits and Withdrawals
Deposits and withdrawals can be made into or out of a robo account at Webull via ACH or wire. Some clients can make transfers with a linked Webull account. Because ETF trades must be placed in either direction, there will be a lag to allow for trade settlement.
Webull Smart Advisor Review Judgement
Webull has come up with a good automated-investing program that costs very little. The completely-digital
service eliminates the traditional human financial planner.
Webull Promotion
Visit Webull Website
Updated on 10/4/2024.
Chad Morris is a financial writer with more than 20 years experience
as both an English teacher and an avid trader. When he isn’t writing
expert content for Brokerage-Review.com, Chad can usually be found
managing his portfolio or building a new home computer.
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