While you could buy the same ETFs from in your existing investment accounts, Numovo helps you get them all from one place. Numovo is also driving costs down by looking for low or no-fee ETF’s to save you fees.
Numovo rebalances your account on a regular basis and keeps an eye on the portfolio mix for you. If you were to buy them directly, you’d have to rebalance regularly, without the benefit of Numovo’s experience. It’s also a good bit of work, scheduling, and the transaction fees may be higher. Numovo provides risk-reducing and returns-enhancing benefits of rebalancing (which Numovo handles for you, automatically). We also seamlessly invest every penny according to your allocation; this means all your money is working for you.
Numovo’s investment teams live in the market, always looking for the most beneficial and cost controlling ETFs to give you the appropriate market exposure.
To put it simply, you cannot get the benefits of Numovo if you use your existing account, buying the ETF’s we recommend. We allow you the flexibility to make changes as needed or sit back and watch your account grow.
Numovo offers all the latest automated investing features:
– A straightforward pricing model without transaction charges or hidden fees.
– No minimum balance.
– The assurance that people are behind the strategy for the investments.
– Growth into a more traditional investment account with one-on-one advice and leadership is always an option, and we will recommend it. We are not an automated investing only solution.
– A user experience that makes it easy to understand your money and control your exposure to risk.
– Automatic, diversification.
– Automatic rebalancing.
– Automatic reinvestment of your dividends.
– 24/7 Access to your accounts with the ability to wake up at 3am and change your portfolio from conservative to aggressive (note: rebalancing will happen when markets open)
Numovo’s fee keeps things simple while delivering value. Keeping track of your investments and staying ahead of the market is our full time job. Numovo is a good way to make use of our experience and invest with confidence, while getting all the benefits of an automated investing solution. Numovo offers features and functions that simplify your investments and get the benefits of a traditional investment adviser at a fraction of the cost.
– Solid diversification. Any single fund has limitations. By balancing your portfolio among multiple ETFs, Numovo gives you appropriate exposure across the market and industries while balancing large cap and growth stocks. Keeping a balance of these ETFs is our job and maintaining that balance would be extremely difficult by you.
– Rebalancing. Knowing when to rebalance and how to rebalance avoiding the sale of stock that might have gains or losses is a science. . As the funds in your account grow, the original ratios between them will shift. Numovo rebalances you back to your recommended or chosen allocation when it makes sense from a gain/loss perspective and in using your existing cash amounts. It is common knowledge that just investing once and forgetting is not going to work. We know this and work in your best interest to maintain that balance.
– Better access to your own money and decisions. Your account and money is always available without a transaction fee, and without a minimum balance requirement. If you wake up in the middle of the night and decide you want to be more aggressive, you can access your account and make the request immediately. There is no need to call an adviser and explain your desire to change like a typical investment relationship. If you ever need to withdraw or deposit funds you submit the request and Numovo processes it in just a few days.
– Real advice. Our advice comes from our experience. If you ever have questions, we are not just robots. We will sit down with you when you feel you need the help. We will grow with you as you become a seasoned investor.
Your Numovo account is more like the online site for your bank. We specifically designed Numovo to be easy to use, and pride ourselves on the KISS method of “Keeping-It-Stupid-Simple.”
Your account is an investment account so it will have clear differences from a savings or checking account. Savings and checking accounts are guaranteed not to lose value. Numovo accounts will gain and lose value depending on market conditions. Bank savings accounts typically increase as a minimal rate. Numovo accounts have the potential to grow with higher returns than a typical savings account can usually offer. With a Numovo account, you are in control of that potential.
Security is our number one concern. Growing your Numovo account does no good if it’s open to theft. Numovo has chosen industry leading partners, and incorporated security measures in all aspects of the site. We have also implemented one of the best available browser encryption, secure servers, and identity verification services.
Numovo is an SEC Registered Investment Advisor. Raymond James is our partner for your account and is a broker-dealer regulated by FINRA and the SEC. The securities in your account are protected up to $500,000 by SIPC. Numovo is the brains in front of Raymond James, but we have partnered with a leading custodian to make sure our clients are comfortable using Numovo. Learn more about Raymond James here.
If Numovo goes public or is acquired, nothing changes for your accounts. All your existing investments and portfolio items are owned directly by you. You would be free to use them as needed.
If Numovo decided to close, your money would remain in a Raymond James account. You would maintain control of the account with the option to keep it there, transfer it to a different account, or any other options Raymond James would provide. We designed Numovo for automation, and did not tie it to a Numovo owned bank/custodian for this exact reason.
Should you decide to close your account at any time, your money will be transferred to your primary linked account. If we were to close your account, the funds would be transferred to the broker of your choosing.
Furthermore, Numovo accounts at Raymond James are SIPC against losses resulting from the failure of a broker-dealer. SIPC protects against the loss of cash and securities – such as stocks and bonds – held by a customer at a financially-troubled SIPC-member brokerage firm. The limit of SIPC protection is $500,000, which includes a $250,000 limit for cash. An explanatory brochure is available at http://www.sipc.org.
Numovo is required by regulators to keep your money separate from Numovo corporate funds, and Raymond James broker dealer funds and assets. Your Numovo assets are always available to you.
SIPC works to restore to customers their securities and cash that are in their accounts when the brokerage firm liquidation begins.
SIPC does not protect against the decline in value of your securities.
Numovo is not a lender, so there is no need for us to do a credit check.
As of now, all Numovo customers must be 18 in order to sign all our agreements.
If you are looking to save for your children, we recommend opening an account on their behalf or even an IRA with your children as beneficiaries.
When you deposit money with Numovo, your request is created in Raymond James systems. Raymond James is a FINRA member broker-dealer. Your deposit request is processed in the order they are received.
Depending on the cash allocation of your account Numovo will allocate funds as part of the normal rebalancing process. At the rebalancing, your deposited funds will be used to rebalance the account according to your recommended or selected risk profile.
Simply login to Numovo and go to the Accounts section. Locate the account you would like to update and click the edit button. You will be shown the currently selected profile and be given the option to select a different one.
Your allocation change request will be effective at that point. Numovo will process the request and rebalance your account as requested. Remember, rebalancing can include fees depending on the level of the trades. Submitting multiple new profile requests may result in increased fees.
Numovo maintains a separate account number, along with your Raymond James account. You are immediately assigned a Numovo account number when you signup. Your Raymond James account number is assigned once the paperwork and other processes are complete. You can find your account number(s) by logging into Numovo and going to the Accounts section.
If you want to close your account, we will be sad to see you go. We’ve kept the process simple, but have not automated the closure. Simply submit a request via our Support site and a Numovo account coordinator will contact you with the specific process. There are many options for how to close an account, and we will work with you to make the process as easy as possible.
When you close your account withdrawals directly to your linked account or transfers to your other accounts will not have trading fees or penalties.
Please contact us at firstname.lastname@example.org if your decision to cancel is based on any problems you may be experiencing. To come back to Numovo, just follow the same process as you did before or email us and we might be able to re-activate your previous account(s).
Numovo can only operate in the United States. We are regulated by the US government and cannot accept customers outside the country.
Customers must have a permanent U.S. address, a U.S. Social Security Number, and a checking account from a U.S. bank.
Absolutely not. We only require a link to an existing bank account to be able to deposit and withdraw funds. Numovo focuses on investing and strategy, not banking or banking recommendations. By linking your Numovo account with your checking account you will be able to move money between those accounts seamlessly.
You can change your portfolio profile anytime by logging in and going to the My Accounts section of the site. Simply click the edit option on the account you’d like to change and select one of our other options.
Please note that you can only switch portfolios in the one account at a time. If you want to transfer funds between multiple accounts (e.g. a personal account and a trust), please contact us at email@example.com.
Due to IRS rules regarding contributions to an IRA account, transferring funds into an IRA would need to be done by withdrawing the funds from your current account and then depositing the funds into your IRA goal.
The IRS requires that all contributions be in the form of cash regarding IRA accounts. The portfolio selection is identical, but Numovo is required to keep separation between accounts. Therefore we cannot simply move the selections over.
By using Raymond James via Numovo, you agree to the both Numovo and Raymond James terms and hold Numovo harmless from losses of any kind that may result from Raymond James use, misuse, or loss of your personal information and Account Information.
Not yet. We are just starting out and have many projects and features in the works. Our focus is on the strategic investment of your money right now.
For now we have made our site a mobile friendly as possible, and a mobile app will be coming soon.
We do not recommend you do so. Numovo only supports accounts for individuals the ages of 18 or older. If a minor should be appointed as a beneficiary of an account, Numovo may require court-appointed custodial documentation or an official guardian for the minor beneficiary prior to any funds being transferred. Setting a minor as a beneficiary may cause unforeseen delays.
Note that Numovo can support trust accounts where a minor has been designated as the beneficiary. However, the trustee of the trust must be at least 18 years of age.
Numovo charges a straightforward management fee of 0.35% annually. This is based on your balance and billed at the end of each calendar quarter (every three months). For a comparison and details, see the Fee Comparison tool on our site.
Numovo’s simple management fee is an approach to make it easy for our investors to understand what they are getting and avoids unnecessary complexity.
Your money is invested in a fully diversified index-fund portfolio made up of exchange traded funds or ETFs. Each of these ETFs has been chosen based on many aspects. Expenses to you and Numovo are a top consideration. ETFs have expense ratios that you would pay no matter where you buy them. Numovo cannot avoid those, but we make our decisions in your best interest.
Yes. Numovo’s fee is a simple 0.35% annually, billed forward at the beginning of the quarter. It is prorated based on when your account is opened with Raymond James. You only get billed for the days your account is open in that quarter. So if your account is opened halfway through the quarter, you will only be billed for half of the quarterly fees. Normal quarterly billing will start at the beginning of the following quarter.
If you withdraw your entire balance before the end of a quarter, we will reimburse the remainder of the quarter’s fee at that time.
Your fee is based on the asset value of your account. It’s that simple. The 0.35% annual fee is billed forward quarterly based on the calendar quarters. So you will see a bill on Jan-1, Apr-1, July-1, and Oct-1 each year.
Yes, you can withdraw your money from Numovo at any time. We do not charge penalties for making withdrawals or closing accounts. Trading fees will apply if Numovo sells off positions. Your money is available to you at any time. Fees may apply for closing your IRA or Roth IRA account.
Withdrawals generally take about 3-5 business days to process. When you withdraw, your positions in that account are sold and this may have tax consequences. Numovo attempts to minimize taxes for you, but tax impacts depend on the market and may be unavoidable.
All tax forms and reporting for Numovo is executed by Raymond James. This is done to keep your costs low and focus on strategy and managing your investments. Below are the details for the different types of Numovo accounts. Numovo is not a tax advisor, if you have tax questions, a CPA is always recommended. Email us at firstname.lastname@example.org if you would like us to recommend or work with an existing CPA.
Individual (“Personal”) or Joint Taxable Accounts
Taxes are paid each year on the dividends and other distributions paid to you in that calendar year. These are based on selling shares and whether or not you’ve realized capital gains on the investment.
Taxation of Dividends
Some ETFs will pay dividends. You will see these on Form 1099-DIV after the calendar year. These are generally taxable, at your ordinary the tax rate that applies to you. Some ETFs have lower taxable rules based on qualified dividends or municipal bonds.
Numovo uses ETFs to balance costs and taxes. Distributions that ETFs sometimes have parts that are not taxed as dividends. These are typically taxed as capital gains and will be on your Form 1099-DIV.
Foreign Tax Paid
Some ETFs have non-US holdings. In this case your 1099-DIV will show foreign tax paid. To avoid being charged twice for this foreign tax, The US rules may allow you to deduct or take these as a tax credit.
Taxation of Capital Gains
Capital gains are a consideration for any investment. Numovo attempts to minimize your tax impact due to Capital Gains, whether they are short-term or long-term gains/losses. Our use of ETFs in your portfolio helps to control some of this risk. Capital gains/losses will be provided on your Form 1099-B.
Traditional IRA or SEP IRA
Traditional and SEP IRAs may afford a deduction against your ordinary income in the tax year during which you contribute funds, if you qualify based on your income. Any dividends you receive are automatically reinvested by Numovo, and grow tax-free until withdrawal. When you withdraw from the account, taxes are generally due at your ordinary income tax rate applicable at that time, both on earnings and on all contribution amounts that were previously deducted. Penalties may also be due if you don’t meet the withdrawal qualifications (e.g., you withdraw before age 59.5). Read more from the IRS on IRAs and SEP IRAs.
Contributions to a Roth IRA have already been taxed, so there are no deductions available. However, as long as you meet the requirements you will not be taxed on the amount withdrawn after retirement. Also, your dividends received in the Roth IRA are automatically reinvested and follow the same tax rules.
Login to the My Accounts section of Numovo and click the link to Raymond James Investor Access. Inside Investor Access, your documents are available under – My Accounts – Documents – Tax Reporting. Your tax documents will be available in the beginning of a calendar year under the statements section.
Numovo leverages ETF only portfolios that manage expenses and are index tracking funds. The ETF structure results in more tax efficiency. Investors in ETFs and mutual funds are taxed each year based on the gains and losses incurred within the portfolios, but ETFs engage in less internal trading, and less trading creates fewer taxable events In our more conservative portfolios Numovo leverages municipal bond ETFs that are federally tax exempt and may even be exempt at the state level.
Deposit requests are processed immediately, but due to bank timing funds are typically in your account the following business day for deposits made before 11PM EST, unless it falls on a holiday or weekend. Numovo makes every attempt to move the money in the fastest way possible.
Withdrawals from Numovo to your ACH bank on file typically take 3-5 days. Securities that are sold are available 3 business days after the transactions are complete. Funds will be transferred on the third business day and should arrive in your account by the next day. If you make a request over a weekend or holiday, delays may be a consideration. Also, if you request a withdrawal shortly after a deposit, delays could occur.
Numovo has a $500 minimum on all accounts. We recommend setting up a recurring deposit at any level. The money can add up and with Numovo, it can possibly grow faster by being in a managed account.
Numovo charges an annual fee of 0.35% on your account balance. This is billed quarterly based on the asset value of your account.
There are fees for transactions with Raymond James that will show up on your statements. We are constantly working to minimize the impact of these fees with the Numovo platform. The charge for transactions on Raymond James is $7.95 a trade.
– There is a 60 days wait to withdraw an IRA Rollover deposit already made.
– We also limit transfers to one per day.
Numovo requires you to have an ACH account tied to either a checking or savings account. This is done when you register with us. We currently only support a single ACH setup, but will be expanding soon. Numovo does not charge for ACH transactions. To update or change your ACH setup, login to Numovo and go to the My Account section. Your ACH setup is under the My Profile section.
Because electronic transfer is the way to deposit and withdraw funds from your Numovo account, you must maintain an ACH account.
Electronic transfers via an ACH account are our standard. We can perform wires upon request, but fees may apply from Raymond James and possibly your bank as well.
We require an ACH profile for a standard checking or savings account to be established during the Numovo registration process. This gives us the ability to request transfers on your behalf with the click of a button, keeping fees at a minimum.
We don’t want to see you go, but if you do, the process on our side is simple. You will need to be sure to have your receiving bank or institution put in the request to Numovo. They can email us at email@example.com or contact us via our website.
You will need to provide them with a Raymond James statement to start the transfer process. Statements can be found by logging into Numovo, going to the My Account section and clicking the link to Raymond James Investor Access. Statements are under the Documents section of Raymond James site. The transfer paperwork can be mailed to:
Numovo Account Requests Re: Transfers
221 East Fourth Street
Cincinnati, Ohio 45202
We will not charge to transfer your account. To avoid tax impacts, we can transfer shares directly to your new account. For IRA accounts, direct transfers will avoid tax consequences for you.