Are y'all getting tired of checking all of your financial assets separately? Well, that can all change today by getting an investment app to keep track of your entire portfolio—stocks, mutual funds, bonds, ETFs, IRAs, and 401(k)s all in one location! Keeping tabs on all of your financial assets can be exhausting, and I'm sure if you're a regular investor, you check your financial growth frequently versus once a year to do your taxes.
Fortunately, plenty of mobile apps provide real-time data on all of your investments in one single app! Check out some of the best investment apps—for beginners and advanced investors—that will make your stock portfolio life easier to manage.
The best investment apps for beginners
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Robinhood
Robinhood is one of the most popular stock portfolio apps that everyone is talking about. It's free to open an account, and they have no account minimum. One of their best features is offering free trading for stocks, options, ETFs, and cryptocurrency. It's very easy to function, and they offer Robinhood snacks, a daily financial newsletter to fill you in on financial updates or launches that boost company shares, etc.
Once you get the Robinhood app, you instantly get a stock and also get a free stock for every person you share the app with. If you choose to upgrade your account for the Robinhood Gold membership for $5 a month, you'll be provided research on 1,700 companies from Nasdaq Level II quotes, Morningstar, and access margin loans.
E-Trade
E-Trade is a great app for beginners because they offer several resources and educational pointers, and they have a wide range of no-fee funds. The company has two mobile apps and offers no minimum fee to obtain an account, and it's free to trade stocks. On the E-Trade app, you can move money using the mobile check deposit, and it's really easy to track the market, trading ETFs and stocks. The second app is called Power E-Trade and allows users to enter orders inclusive of complex options trades on a single ticket.
This is a great investing app to start with because they offer extensive educational information for new investors, including articles, videos, and live educational services.
Merrill Edge
Bank of America's Merrill Edge is another great option for beginning investors, especially if you're a Bank of America customer. If you are a current member of Bank of America, you have immediate access to cash transfers to your brokerage's account, and you'll have access to a Merrill adviser in over 2,000 Bank of America locations. There is no minimum needed to open an account, and it's also free to trade stocks.
One of their best features lies in their educational materials; they offer articles and videos explaining college planning, personal finance, retirement, and how to begin investing.
It's better to start small versus not at all!
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Fidelity
Fidelity is known to be one of the most investor-friendly broker apps in the industry, making it an excellent option for new investors. There are no minimums to open an account, and they offer one of the lowest published margin rates at just 4.00%. Fidelity is committed to educating their clients with in-depth research from over 20 independent providers, and they offer zero expense ratio index funds.
The site is easy to navigate, and users have access to various webinars and see previously recorded classes in almost every area of investing.
TD Ameritrade
TD Ameritrade offers a range of services for all level users. It's especially great for new investors because they have interactive courses and webcasts, so no questions are ever considered a dumb question because we're all learning. Beginning investors also have access to over 200 instructional videos and tutorials. There is no minimum to open an account, and they are going to integrate with Charles Schwab investment company in the upcoming future.The best investment apps for intermediate and advanced investors
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Ellevest
Ellevest is an investment app built for women and created by women! Let's go feminine divine! This is an excellent app for goal-based investing in multiple investing categories. Ellevest charges a monthly fee ranging from $1 to $9, based on your financial needs. The primary tier provides you an investment portfolio, banking features like ATM reimbursements, and access to educational services.
If you choose to invest in their higher tiers, they offer goal-oriented planning, executive coaches, and reduced fees on meetings with financial planners. They also provide monthly progress reports to celebrate when you're on track with your financial goals, and they provide suggestions if you're not meeting your financial objectives.
Betterment
Betterment is an automated investment platform, also known as a robo-adviser. They have an algorithm that calculates your portfolio based on your goals and preferences. They create portfolios by investing in expansive market sectors through ETFs — because they are tax-efficient and low-cost. Betterment also uses the data you give them to provide retirement advice by recommending an allocation and advising what amount is safe to withdraw. Your inflation and portfolio performance are factored into their ongoing advice — which is all up to you if you want to take their pointers.
You can open several different investment accounts with Betterment, like a Roth IRA, trust account, SEP IRA (single participant only), and Betterment for business (this is their 401(k) for small employers). They charge a minimum of 0.25% annual fee.
SoFi
SoFi is an all-in-one investing service that provides robo-advisers and investor-friendly service. They provide goal-based planning to assist your financial objectives and offer automatic rebalancing. There is no management fee, and the company's account minimum is $1. SoFi provides access to financial advisors, career services, and discounts on other SoFi products for no extra fee.
The company also provides a unique option that allows you to choose the stocks, crypto, ETFs you'd like to invest in, or they provide the option to create a portfolio for you with automatic investing. And if you're on a budget, investing they have a stock bits option which lets you invest in your favorite companies without committing to purchasing a whole share.
Choose from the best investing apps
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Personal Capital
Personal Capital is a free mobile and online personal finance and investment management app. It's available on iOS and Android, and it lets you analyze your entire investment portfolio visually regardless of where you store your assets(401k, Fidelity, etc.). They even suggest stocks you should sell and invest in alternate assets.
And of course, that's a basic example but a helpful one; they also analyze your portfolio by market cap, industry, and a ton of other variables. Personal Capital has a feature called "You Index", which keeps track of your holdings and assesses their performance against leading market indices, so you can easily see how you're doing across cash, stocks, mutual funds, and ETF.
Stash
Stash is a great investment app for first-time investors and advanced investors. They offer three different plans ranging from paying $1-$9 a month, which makes it affordable and easily accessible to build wealth. Stash provides an option to invest what you can afford with their fractional shares; you have the opportunity to choose how much to invest.
Their $1/ month plan includes their stock-back card, personal investment account, personalized advice, and $1,000 of life insurance coverage through Avibra. The company's higher tier approach is $9/month including a stock-back card that earns double stock, a Roth IRA or Traditional IRA retirement account, investing for children, and $10,000 of life insurance coverage through Avibra.
The bottom line
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Guys, any of the investment apps you choose, y'all are all winning and saving time and money! Stock portfolio apps help you keep track of all your investments on the go. All of the listed apps are iOS and Android friendly. Some apps require you to manually pop in your data versus other apps syncing your existing apps. All of the apps give great tips to read in less than a handful of minutes and provide tools to make your financial dreams become your financial reality!
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There's definitely a need for women like Robinson, especially since recent research shows that between 47% and 55% of Black consumers' needs "are not being met" in the wellness space, and the U.S. fitness industry hit $32 billion last year and that it's important for Black women to see themselves prominently in the space.
As a health and wellness programming expert, licensed nutritionist, mom, wife, and former all-women's gym owner, Robinson has built up a body of experience that has culminated into doing something she loves via the FabBody Retreat, an experience for women ages 30-60 to be enriched via group activities, good food, and connection in the backdrop of tropical peace and tranquility.
This year's retreat was held in Grenada, with special guest and TV host icon Free Marie (BET's 106 & Park). Next year's event will be held in St. Maarten with plenty of opportunities to enjoy beach vibes, authentic and healthy dishes, and all the pleasures of being among other fabulous Black women seeking holistic wellness in paradise.
"My God-given purpose is to help serve, connect, and heal Black and Brown women," she said, taking her experiences serving corporate and individual clients via projects like the NFL's "Fuel Up To Play 60" initiative and the Nike Training Club live experience, to do just that.
xoNecole caught up with her to talk about why she chose the fitness industry, her success in launching and running the FabBody Factory, and how she's pivoted to use her skills to build impact on a larger scale in health and wellness.
xoNecole: What sparked your interest in a career in health and wellness?
Deanna Robinson: I have always been involved in sports, always been active in cheerleading, dance, [and] gymnastics. In my college career, I was a competitive cheerleader at the University of Maryland, College Park, and I've just always been passionate about physical activity, health, and fitness. I double-majored in kinesiology and public and community health, and it's always been a passion for me about others being well.
Out of college, I wanted to be a personal trainer, and I interviewed at a big-chain gym. I was really excited about getting this job, but when I had the interview, they informed me of what the split was—what the client paid, what I'd get as a personal trainer, and what the gym got. And I just thought it was a ridiculous split. I've always been into entrepreneurship as well, and doing things on my own terms, so I actually opened up my own gym in the community I grew up in called the FabBody Factory, an all-female gym in Upper Marlboro, Maryland.
I was able to hire several trainers, offer group classes and personal training, and one of the things I was always a big proponent of is making sure that they got a better cut than they would get at larger chains.
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xoN: Talk a bit more about that in terms of starting a gym, especially one that caters to women. What was the process and motivation?
DR: I have worked out in big-box gyms before and just never felt comfortable. It was always really uncomfortable working out in a huge gym where men would be gawking at you or try to get your number when you're trying to focus on yourself in that moment. So I always wanted the FabBody Factory would be a safe haven where we didn't have to worry about our titties flopping when we're doing jumping jacks, it was just for us by us, and we could just [be] comfortable making ourselves a priority.
I was almost talked out of doing something like that because people would say, "You're cutting off half of your potential clientele," but I never had an issue. Women flocked to the gym, and I'd sometimes have to split classes. I might have to do part one of a class at one time and a second another time. It was majorly successful. Ladies loved it. And on top of this being all-women, it was all Black and brown women.
Culturally, we get each other, so it was a big social thing for us, too. We were able to fellowship with each other and get fit at the same time.
xoN: Your brand includes the concept of a 'Fab Body.' What does that mean for you---and just wellness---in general, for Black and brown women?
DR: FabBody in itself is not a look at all. It's more of a mindset and a willingness to invest in your mental, spiritual, and physical self. In promoting the FabBody Retreat, I actually had someone DM me and ask me, "Do you have to have a 'Fab Body' to come on the retreat?" and my response to her was that you do have a 'Fab Body.' Everyone has a Fab Body. It's more of a state of being—a sound, healthy mind, body, and spirit. It's not about aesthetics at all but about overall improvement.
xoN: You decided to pivot from owning a gym, which you ran successfully for more than a decade, to your current role in health and wellness programming and launching the FabBody Retreat. How did this come about?
DR: My gym closed last year, and the reason was because of where I saw myself going and where I wanted to be in the next 10 years. A lot of my time at the gym was selling and getting people to register for classes, and it wasn't as lucrative and fulfilling for me as it had been in the beginning.
Now I'm doing more consulting work with larger companies. One of my passions is programming, and that is where I see my future going. I'm moving more toward passive income, coming from my being able to use the knowledge I have from years in this industry and putting together programming that can reach the masses versus individuals.
xoN: What can people expect from the FabBody Retreat next year, and how does this venture continue your love for advocating for health and wellness among Black and brown women?
DR: One of the things that really sets this event apart from so many other retreats is that I have married everything that is important to me: wellness, my faith, and my community. God is a huge part of all of the events we do, and all are interwoven with faith-filled, intentional activities, and I think that's what makes it different. On Sunday, we do a service on the beach, and we always have a guest speaker—someone you can relate to where you don't feel like you're being preached to. It's an awesome experience, unlike any retreat I've seen.
It's definitely rooted in faith, but at the same time, there's a balance. We'll get on a boat and have a cocktail with an umbrella in it, and then we'll go back to wellness. There's a healthy balance.
Find out more about Deanna Robinson via Instagram @deannarobinsonfit and more on the FabBody Retreat via the website.
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