Marketriders.com is a brand new type of investment software which describes their services as “Do-It-Yourself investing software, made simple” which gives people access to proven investment strategies at affordable rates.
How Does It Work?
According to their website, Marketriders provides their users with “web-based investment management software that lets you build and manage a globally diversified low-cost retirement portfolio using methods developed by Nobel Laureates.”
As everyone knows, the rule of investing is to “buy low, sell high,” which Marketriders.com refers to as “rebalancing” your portfolio as the market changes. Many people believe that giving a professional investment manager the responsibility of rebalancing their portfolio for them is the best way to handle their investments, but this website says this simply isn’t true for most investors.
The reality is that the fees charged by most investors eat up the returns gained by your investments, and there simply isn’t a reason to let that happen to your retirement portfolio when the statistics show that most money managers underperform the market by 80% in any given year, and the numbers are worse over the long term projection.
In addition, money managers are often biased in the recommendations they provide their clients because their fees and commissions are often dependent on the type of “investment products” they can move their clients into.
Marketriders.com says that not only do they charge very minimal fees when compared to a professional money manager, their software is completely unbiased when advocating investments, making them a better choice for most investors.
Marketriders.com goes out of its way to emphasize how their costs compare to the fees of using a professional money manager, saying that “even a conservative analysis shows you're probably paying 3% of all your money every year, to have others help you manage it.” In comparison, their software is focused on low-cost, tax efficient ETFs that have average annual fees of 0.2%.
This means that a $100,000 portfolio that meets average annual growth of 8%, compounding gains over 20 years, and deducting your 3% in taxes and fees would result in $265,329 for you.
But if your taxes and fees were 0.2% instead of 3%, you would actually end up with $449,113.
Since you are not purchasing a single item or service, but rather contracting a financial company for a continued management program, there is no standard "Refund Policy" for their services. Customers who feel as though they have encountered any issues which should be addressed by their management team should contact them as soon as possible, to give them the best chance of meeting your needs.
Customer Service Contact Info
Customers who would like to contact their Customer Service team with questions, concerns, or complaints can do so by phone at 866-990-3837, by email at [email protected], or by submitting them directly to the website.
Third party, independent reviewers of this company are very enthusiastic about their services, their strategies, and the low, manageable fees associated with your portfolio management.
It does appear from articles like those that have appeared in the New York Times or the financial blog NerdWallet that Marketriders appears to be a middle ground software, which – when compared to similar softwares – gives some people slightly more control over how their investments are made, while still trusting most of the work to the software itself.
Essentially it is still up to the customer to determine if their approach to investing fits your personal needs and your personal style, but since this company does offer a 30 day free trial, customers will be able to make that decision for themselves.
Competitors and Alternatives?
There are many other companies out there that are promoting similar software based management services to this company, including Betterment and Wealthfront, which both provide informed investment strategies of their own, slightly different to what is offered by Marketriders.
If you have any experience with this company or their products, please leave your Marketriders.com reviews below.