Completely transparent. Right down to the fees.
While we haven’t done any official studies, we’re pretty sure that nobody on the planet likes to see their money sucked into a black hole. We feel the same way. That’s why, with Covestor, you’ll always know upfront exactly how much you’ll be paying and what you’ll be paying it for.
Let’s start with what you won’t pay when investing with us.
- You’ll never pay sales fees
- You’ll never pay load fees
- You’ll never pay entry fees
- You’ll never pay exit fees
- You’ll never be charged for cash that’s not currently invested in a portfolio
Full disclosure — we’re a business, so we do like to make money. Here’s how:
- You pay a single fee for assets in your Covestor account
- Depending on the Manager and portfolio, this fee will range from 0.3% to 1.5% per year
- We keep 0.25% and the manager gets the rest
What about transaction costs? We’re glad you asked.
- All Covestor transactions are executed quickly and precisely by Interactive Brokers, a firm that’s been around for 35+ years and has over $5 billion in equity capital.
- Each trade will cost, on average, $1 — which is exactly what Interactive Brokerage charges us.
- We never mark up any transaction costs — they’re passed directly to Interactive Brokers.
What other fees will you pay?
None. At all. Seriously, we mean it.