XoomFi Advisors uses an algorithm to manage client accounts based on their individual financial situation and goals. Clients provide information through XoomFi’s website, and the algorithm generates an investment allocation based on a risk tolerance questionnaire. The algorithm selects from investment models like Balanced Income & Growth, Turbo Income & Growth, and Ultra Income & Growth. XoomFi maintains discretion over client accounts, which are held at Interactive Brokers.
Fee Structure
XoomFi Advisors charges a performance fee of 20% of investment profits, paid quarterly. The fee is based on the gain in your portfolio between the current quarter and two quarters prior. There is no management fee. XoomFi covers trading costs charged by Interactive Brokers, but clients are responsible for custodial fees and other fees charged by Interactive Brokers.