MoneyMade Review: Alternative Investment Platform
Posted on August 27, 2021 in Investing
In the past, investing your money in any project required you to find financial and investment advisors to help you through the process. In our review of MoneyMade you’ll find out how an online investment platform can be a great alternative to help you achieve your financial goals.
Although seeking professional advice is the best way to go, the process could be time-consuming, and most times, you don’t make immediate decisions. With the advancement of technology, things are now different. You can start looking for investment opportunities at the comfort of your home. Online investment platforms like MoneyMade can help investors look for options that suit their needs. In this post, we will give detailed information on everything you need to know about MoneyMade and its alternative investment platform.
What is MoneyMade.io?
MoneyMade is a marketplace website launched in March 2020. It is listed as a private company with its headquarters at Redondo Beach in California. The Company was founded by Richard McBeath and Denys Kravchenko.
The aim of this website is to easily connect a vast range of consumers to investment platforms. Through it, you’ll find new investments, compare investments and manage your current investments simultaneously on the same platform.
MoneyMade is not a registered company under the investment advisor or broker-dealer business. This means that investments presented on the website are not directly purchased by MoneyMade. Therefore, any transactions on the platform are solely between the investor and the third party hosting the investment in question. The platform makes money through commissions and with paid partnerships.
Any information regarding the available investments on the platform comes from a third party. Before accepting any third parties in the website, MoneyMade ensures that the sources are legit and reliable. However, the Company does not consider any of the information provided as complete or entirely accurate.
MoneyMade is the best alternative investment platform to search for a suitable investment if you are a first-time investor. You have a variety of options and reviews available concerning the different assets. You can also find more specific investment categories such as real estate or collectibles.
Just like other marketplace companies, MoneyMade makes its profit through;
- Commissions– Commissions are attained from sales originating from the website.
- Click through– When a potential investor clicks through specific products, the rates are reflected or represented on the website.
MoneyMade Services Offered and Features
Discover: You get to discover more than 150 investment platforms. Be it crypto, farmland, real estate, brokerage, and many more.
Learn: You can read detailed reviews and watch video content about how the different platforms operate.
Portfolio: One central dashboard to connect all your investment accounts on the website.
Fees/ Projected returns calculator: You can calculate how many fees you will incur, and from that, you see the projected return on investment.
User Reviews: You can give your feedback based on your experience.
Curated Content: Your investment goals and interests determine the recommended investment.
MoneyMade is an online mobile investment website that gives users investment options and educates them about each option’s features, fees, and returns. The diversity makes this platform suitable for a vast range of people with different investment needs.
Unlike other alternative investment websites and apps, MoneyMade allows you to connect directly to platforms rather than use options like Plaid to connect with bank accounts or brokerage accounts.
Essentially, this means you can follow all your investments across all platforms from one location. No need to manage assets across multiple platforms anymore. You’ll simply connect your existing accounts from the different online alternative investment platforms and track them on a single dashboard.
Investors can also use customizable filters to narrow down the type of investment they prefer based on the investment category. There’s a quiz you can complete to help you get direct recommendations from the website. These recommendations will be based on your investment goals and the category of your preference.
The investor quiz is made up of simple questions such as:
- What level of risk are you willing to take?
- When do you want to see returns?
Each recommendation is well-detailed as it outlines how you make profits and the potential risks, which is commendable.
There are no charges for all the services provided by MoneyMade. So you have the freedom to explore all the different types of investment opportunities you want.
MoneyMade Customer Experience
The website is well-organized, making it easy to navigate. If you want to read the reviews, simply go to the menu labeled “learn.” If you’re going to watch videos on the different platforms represented by the website, go to the menu labeled “Stream.”
If you’re looking for more personalized information, you can sign up to receive any recent tips through their email newsletter. A live chat feature on the website allows you to ask any question and get responses almost immediately
MoneyMade Performance and Returns
MoneyMade’s goal is to be a platform where you can find investment opportunities, manage the investments and track them simultaneously. The first step towards accomplishing this goal is providing relevant information about the investment, which the platform does.
Moreover, the website has established an anticipated return and fee calculator. The feature allows users to estimate how many returns they can make within a certain period. The website also provides information concerning the fee payable if the different platforms charge.
Benefits of using MoneyMade
When using MoneyMade, users can easily manage all their investments in one platform. The website goes through more than 150 investment platforms to ensure users see your total asset allocation.
The platform ensures that users know how to earn profits, fees, or projected returns on investment. Additionally, the website discloses information on how the Company will also benefit.
How does MoneyMade make investing easier for the average investor?
- You can easily connect all your investment accounts into one dashboard, which allows you to see your total portfolio value.
- With more than 150 investment platforms, you can easily compare them and select one that suits your needs
Is MoneyMade.io Legit?
Being a new company, MoneyMade has not been rated by the Better Business Bureau and Consumers on Trustpilot. Don’t expect to see it on the Apple Store or Google Play because it is not an app, yet. However, there have been some positive comments about the Company from the financial press and they have raised money from some of the most prominent investors and VCs in the US.
Which accounts can I connect to MoneyMade?
MoneyMade allows you to connect and manage over 160 different accounts. The available platforms include, but are not limited to:
- Robo advisors
- Art and collectibles marketplaces
- Real estate investing app
- Checking and Savings account
- Crypto exchanges
- Peer lending apps
- Farmland investing platforms
- Sport Memorabilia
Although users can link several accounts, there are still many accounts that require manual entry. This can be frustrating to users. MoneyMade is working towards creating an API for all the companies in the database. This task is not easy, meaning it may take some time to accomplish.
Also, MoneyMade has a vision of creating a fully automated dashboard that will speed up the process for all consumers. It is just a matter of time before things get better. There is already some progress as MoneyMade has spent months developing a common API platform for easier future integrations.
Is it really free?
Many people have questions concerning the charges upon logging into the website. What you need to know is that Moneymade is totally free for all investors. You can seek any advice concerning finance and investments at absolutely no cost. The website is also easy to maneuver, so that will not be a problem.
The website does not charge any fees because its partners compensate them for reaching new customers. With that said, you do not need to worry about any charges.
What are alternative assets?
Alternative assets include all investment options besides stocks and bonds or those obtained through the security exchange market. These alternative assets include real estate, crowdfunding, cryptocurrency, and farmland.
MoneyMade has a review section where consumers freely give their thoughts and experiences about specific investments. The reviews are structured so that prospective investors can glance at essential information such as services in each investment platform and the fees applicable.
Additionally, a chat offers a “Pros and Cons” section to make it easy for investors to weigh their options. One thing that stands out about MoneyMade reviews is the detailed information from consumers.
The Future of MoneyMade
Based on the reviews and the easy-to-navigate website, the MoneyMade concept is definitely winning. The Company is new but has received numerous endorsements from financiers who think this is the way to go.
The founders and all stakeholders involved have been improving the consumers’ experience, which is commendable. It is clear that the founders have good intentions and are willing to make much more progress for the sake of this investment platform.
There are a few regular upgrades that will make the website more appealing to consumers. For example, the Investment Management Dashboard will need an upgrade to avoid the tiresome manual updates and discourage new users.
Besides that, MoneyMade is a great platform where both casual and serious investors can benefit. You can now connect to over twenty platforms without any trouble. With the progress and updates each week, the number of platforms will increase. The platform also allows consumers to link with traditional investment accounts such as 401k, which most people fancy.
A Final Review of MoneyMade as an Alternative Investment Platform
MoneyMade is a legit platform that discloses any type of concerns that you may raise, making it the best online investment platform to consider. The website contains reliable information but does not offer direct deals; instead, it depends on reliable third parties.
MoneyMade offers you the opportunity to find an investment that you would want. You can also review feedback from consumers, which will help you in the decision-making process. Just visit MoneyMade.io and see all the investment options available.
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