For the investor with at least $100,000 on hand and an interest in wealth management, Farther is worth considering. But this service won’t be practical or suitable for many others. Its steep minimum and focus on hand-off investments makes it ill-suited for active traders and those just starting out.
That said, there’s lots to like about Farther. When you sign up, you’re assigned a dedicated financial adviser who will work with you to establish investment goals and build your portfolio. Plus, Farther makes use of automated portfolio rebalancing and tax-loss harvesting so you can rest assured knowing your money is being allocated effectively.
Farther also advertises cash sweeps and savings waterfalls, which means Farther is mindful of how your money is allocated and aims to minimize the impact of taxes by cascading cash across multiple accounts. Sounds complicated, but you don’t need to worry about it too much — which is yet another perk of having someone manage your investments on your behalf.
For the investor with a portfolio of $100,000 or more who prefers the human touch, Farther is a viable option. But newbies and active traders will want to look elsewhere.
When you sign up for Farther Finance, you’re matched with a financial adviser. Once you complete the account setup process, you schedule a call with your adviser to go over your financial goals and accounts. Your adviser then works with you to establish an investment plan and an appropriate portfolio strategy. You decide how you’d like to contribute to your investments and link any external contributing accounts.
Once you’ve signed off on the fine print and funded your accounts, you’ll meet with your adviser at least quarterly to touch base, check in on your progress and adjust your strategy as needed.
Farther Finance’s annual fee starts at 0.80% and is less expensive than competing wealth management service Personal Capital, which charges 0.89% on portfolios under $1 million. Facet Wealth, on the other hand, offers flat rates for its services that start at $480 per year, which is cheaper than Farther Finance, which will cost at least $800 per year at the minimum required portfolio size of $100,000.
And speaking of which, Farther’s $100,000 minimum is on the high end. Personal Capital also requires a portfolio of at least $100,000, but Northwestern Mutual is happy to let you get started with $25,000 — and Facet Wealth doesn’t impose any account minimums at all.
|Up to $2.5 million||0.80%|
|$2.5 million to $5 million||0.65%|
|$5 million to $10 million||0.50%|
Begin the application process on Farther’s website.
- Select Get Started.
- Enter your full name, email address and phone number.
- Verify your email address by opening the link sent to your inbox.
- Get matched with a financial adviser and review their bio and credentials.
- Schedule an introductory call with your adviser or select Continue.
- Answer some questions about your financial goals and investment habits.
- Select the type of investment account you’d like to open.
- Review your asset allocation strategy and make any necessary adjustments.
- Enter your residential address and Social Security number to verify your identity.
To complete the account setup process, you’ll need to fund your account with an external funds transfer from an existing bank account.
- At least 18 years old
- Valid residential address
- Valid government-issued ID
- $100,000 minimum deposit
- Valid Social Security number or tax identification number
- Foreign tax ID, passport or visa number if you are not a US citizen or permanent resident
- Valid address
- Employer’s name, address and phone number
Farther Finance has plenty going for it, but consider the drawbacks before you apply.
- Human advisers. Investors that prefer the connection and guidance of a human financial planner will appreciate Farther’s personalized one-on-one service.
- Automatic rebalancing. Farther’s automated technology monitors and rebalances your accounts as needed to keep your investments on track.
- Cash sweeps. Set up automated cash sweeps from a linked savings account to your investments.
- Fiduciary responsibility. Farther’s advisers have a fiduciary responsibility to act in their investors’ best interests.
- High minimum. You’ll need at least $100,000 to open an account with Farther.
- Limited track record. Farther Finance has only been in business for a couple of years, so its limited history makes it difficult to assess.
Farther Finance reviews are scarce. As of February 2022, the company doesn’t have a Better Business Bureau (BBB) page. There are no complaints to its name on the Consumer Financial Protection Bureau either. Even Reddit chatter is thin on the ground.
On Trustpilot, it earns a TrustScore of 4.1 out of 5 from 10 customer reviews. Positive reviews note its easy-to-navigate design and friendly customer support team. The only negative review claims delays in receiving their money withdrawal.
Customers on Google Play give the app 3.9 out of 5 stars after 11 reviews, and it boasts 5 out of 5 stars in the Apple Store. Positive feedback praises the app’s easy setup and clean design. Negative reviews claim the app is buggy and struggles to load.
With so little investor feedback to draw on, gauging Farther Finance is difficult. You’ll need to carefully vet the platform yourself by exploring its website and reading the fine print before you open an account.
Farther Finance was founded in 2019 and is headquartered in New York City. It doesn’t have a BBB page or any complaints registered with the Consumer Financial Protection Bureau.
Farther Finance is a registered investment advisor with the Securities and Exchange Commission (SEC). Plus, its advisers are fiduciaries, which means they’re legally obligated to put their investors’ best interests ahead of their own.
There are two ways to get in touch with Farther.
- Email. Send an email to firstname.lastname@example.org for a response from the team within one to two business days.
- Live chat. Farther’s live chat service is available weekdays and weekends — but only when its financial advisers are around to respond, and its advisers don’t adhere to a consistent schedule.
Information on this page is for educational purposes only. Finder is not an advisor or brokerage service, and we don't recommend investors to trade specific stocks or other investments.
Finder is not a client of any featured partner. We may be paid a fee for referring prospective clients to a partner, though it is not a recommendation to invest in any one partner.
Farther has its perks but won’t be right for everyone. For one thing, its minimum deposit requirement sits at $100,000. If you’re interested in a platform with a more manageable minimum, try Northwestern Mutual or Facet Wealth. And speaking of Facet — its flat-rate fees may be of interest for those with larger portfolios looking to cut back on management costs.
As far as autonomy is concerned, Farther doesn’t offer the freedom and flexibility of self-directed brokerage accounts. If you’re interested in buying and selling your own securities, check out a platform like Public, SoFi or TD Ameritrade.
No matter what path you pursue for your investments, review your options by features, fees, account minimums and customer support to find the best place for your funds.