While companies like Wealthfront and Personal Capital are tackling the fee problem by taking financial advising into their own hands, GuardVest is simply shining light on the high fees that investors are paying to the advisors managing their portfolios. If this is a firm that piques your interest, check out FeeX, a firm with a similar product out of Israel.
How much do you pay your financial advisor? Most investors have no idea — and neither do their advisors. And what return do you get on your portfolio? That’s another question most investors and again, advisors, can’t answer. These are problems. GuardVest is a new Dallas-based startup looking to solve them by introducing transparency to the investing process. Users link up their accounts to GuardVest, whose freemium model allows seven days of free service, to see how fees, returns and risk stack up to benchmarks, industry averages, and peers.