ML Wealth offers automated investment advice through its website and mobile app. For discretionary accounts, they use client profiles to determine an appropriate investment strategy, investing in ETF model portfolios based on risk tolerance, age, and time horizon. Clients can also choose thematic portfolios. For non-discretionary accounts, ML Wealth provides advice on publicly traded securities, including ETFs and single stocks, but clients make their own investment decisions. ML Wealth is part of the MoneyLion Credit Builder Plus or WOW membership programs, which offer additional financial tools.
Fee Structure
ML Wealth charges a monthly account fee for managed investing accounts, based on the amount of assets in the account:
- $0.01 - $5,000: $1 per month
- $5,000.01 - $25,000: $3 per month
- Over $25,000.01: $5 per month
This fee is waived for Credit Builder Plus and WOW members while their membership is active. Clients with active investing accounts do not pay an account fee but must be WOW members.