FeeX is a one of-a-kind service that specifically tells you what you are paying in investment-related fees while offering unbiased recommendations that will reduce or eliminate those fees.
Are you aware of the fact that mutual funds and brokerages often charge fees that are hidden from investors? While fund managers and brokerages need to be paid for their services, some of these fees are excessive and can have a significant impact on your retirement portfolio bottom line.
Fees can eat away at your portfolio, reducing future needed income. This applies to retirement investments, including the 401k options your employer offers, and it impacts investments you hold for general savings and other purposes as well.
Sleuthing around to find hidden fees on your own isn’t easy, and sifting through investment options to find lower or no fee options is very time consuming. Feex is a new free online service that will find those fees for you and that suggests alternative investments that reduce fees and put more money in your portfolio.
How to Use Feex
To use FeeX, create an account and then link your retirement and/or investment accounts to FeeX for an analysis of investments in each of your accounts that reveals fees and shows you where you can save.
To get started, you securely link your brokerage account or IRA, 401k, 403b, 457, or similar account to Feex. Your log in credentials at financial institutions aren't stored on Feex, instead the trusted aggregation service, Yodlee, provides the pipeline between your account and Feex with bank level security.
Security
You only need to provide your email address to sign up for a free Feex account. You will also be asked for your age and when you plan to retire, but this information is only used so Feex can add up fees that you will pay in the future. At no time do you tell the service what your name is or where you are located. Given that Yodlee stores your log in credentials for linked account, your account information is not stored on Feex servers.
How Feex Analyzes Portfolios
Once you set up your accounts, Feex takes a look at your investments to root out all the fees you have been paying, such as mutual fund expense ratios, account maintenance fees, advisor fees, among others. This information is presented in an easy to understand format. After this analysis, Feex uses an objective method for presenting similar mutual funds and brokerages that will lower or eliminate fees.
If your portfolio has low fees, FeeX may share only your portfolio holdings with other members, with no identifying information so your privacy is always maintained. Sharing portfolios of users who have the same investing style lets Feex make recommendations for improving your own portfolio without reducing performance or adding risk. This is one way that Feex manages to stay completely objective. Feex doesn't use financial advisors. The service uses technology find hidden fees and alternative investments with lower fees.
Feex shows you a projected balance for your portfolio with balances that show how much better you bottom line will be if you use Feex suggestions gleaned from other user portfolios. Feex wants you to think of it as a crystal ball for a healthier, wealthier retirement.
The Future of Feex
Feex is currently a free service and it looks like there will always be a free version, although the company is planning to offer a premium, paid version with extended features in the future. Right now, Feex is focusing on providing consumers with information regarding their retirement account fees, but will be expanding to other types of accounts in the future. Go to Feex.com for more information and to sign up to use the service.
Are you aware of the fact that mutual funds and brokerages often charge fees that are hidden from investors? While fund managers and brokerages need to be paid for their services, some of these fees are excessive and can have a significant impact on your retirement portfolio bottom line.
Fees can eat away at your portfolio, reducing future needed income. This applies to retirement investments, including the 401k options your employer offers, and it impacts investments you hold for general savings and other purposes as well.
Sleuthing around to find hidden fees on your own isn’t easy, and sifting through investment options to find lower or no fee options is very time consuming. Feex is a new free online service that will find those fees for you and that suggests alternative investments that reduce fees and put more money in your portfolio.
How to Use Feex
To use FeeX, create an account and then link your retirement and/or investment accounts to FeeX for an analysis of investments in each of your accounts that reveals fees and shows you where you can save.
To get started, you securely link your brokerage account or IRA, 401k, 403b, 457, or similar account to Feex. Your log in credentials at financial institutions aren't stored on Feex, instead the trusted aggregation service, Yodlee, provides the pipeline between your account and Feex with bank level security.
Security
You only need to provide your email address to sign up for a free Feex account. You will also be asked for your age and when you plan to retire, but this information is only used so Feex can add up fees that you will pay in the future. At no time do you tell the service what your name is or where you are located. Given that Yodlee stores your log in credentials for linked account, your account information is not stored on Feex servers.
How Feex Analyzes Portfolios
Once you set up your accounts, Feex takes a look at your investments to root out all the fees you have been paying, such as mutual fund expense ratios, account maintenance fees, advisor fees, among others. This information is presented in an easy to understand format. After this analysis, Feex uses an objective method for presenting similar mutual funds and brokerages that will lower or eliminate fees.
If your portfolio has low fees, FeeX may share only your portfolio holdings with other members, with no identifying information so your privacy is always maintained. Sharing portfolios of users who have the same investing style lets Feex make recommendations for improving your own portfolio without reducing performance or adding risk. This is one way that Feex manages to stay completely objective. Feex doesn't use financial advisors. The service uses technology find hidden fees and alternative investments with lower fees.
Feex shows you a projected balance for your portfolio with balances that show how much better you bottom line will be if you use Feex suggestions gleaned from other user portfolios. Feex wants you to think of it as a crystal ball for a healthier, wealthier retirement.
The Future of Feex
Feex is currently a free service and it looks like there will always be a free version, although the company is planning to offer a premium, paid version with extended features in the future. Right now, Feex is focusing on providing consumers with information regarding their retirement account fees, but will be expanding to other types of accounts in the future. Go to Feex.com for more information and to sign up to use the service.
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