Between do-it-yourself investing and having an adviser is a small but growing niche of the brokerage world aimed at people willing to pay a middling level of fees for help with their portfolios.
The latest entrant is ShareOwner, a small online brokerage that focuses on investors who want to build quality long-term portfolios. The firm’s new ETF Model Portfolio Service offers five different portfolios of low-cost exchange-traded funds. Invest any sum of money in one of these portfolios and ShareOwner will divide it proportionately into the various component funds for you and rebalance the mix on a monthly basis. The cost is 0.5 per cent of your balance on an annual basis for accounts with less than $100,000, and a flat $40 per month for larger accounts. These fees layer on top of those for the ETFs in the various portfolios. ShareOwner projects an all-in cost of about 0.79 per cent for its ETF portfolios.