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Pros and Cons
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Playbook features
Why it stands out:
The software is designed to benefit people making at least $100,000 a year, and the pricing reflects that. Yet the interface is uncluttered and doesn't require you to make many decisions to get started. Many of us lose out on tax benefits that could benefit our returns in the long term because we don't use them before they expire, and Playbook ensures that you make the most of those benefits before they expire.
Pricing: $79 per month (billed monthly) or $39 per month if you pay for an annual subscription ($468/year).
Look out for: Playbook is not designed for sophisticated investors. The simplified interface is probably a plus for some but may not be a good match for the higher-wealth investors it targets. The lack of online documentation and FAQs doesn't build trust, and it doesn't (yet) have a mobile app. Playbook launched in July 2021, and it feels like a platform that's not fully developed yet. Perhaps future iterations will be more robust.
Playbook offers a free, 7-day trial, which isn't much time to try out the account before you decide if you want to continue. The lack of information on its website means that creating an account is the only way to figure out whether it has the features you need.
And, because of the pricing structure, a test run of this software beyond the free trial period is pricey. If you're new to automated investment management, other platforms will let you try them out at a lower cost.
How Playbook compares
Playbook isn't as full-featured as either
However, Playbook may serve those in the middle well. Unlike the other two, it offers automated investment management with a fixed fee rather than assets under management (AUM) fees that take a small bite out of your investment capital and eat into your long-term gains. And, if the amount you pay in taxes is a pain point, all three platforms offer tax-deferred investments, but Playbook has the strongest focus on lowering your tax bill.
When it comes to fees,
Playbook vs. Empower
Empower offers free tools that anyone can use, but if you want access to its advisory services, you'll pay a 0.49% to 0.89% management fee. Since it requires a $100,000 minimum investment, its management costs are higher than Playbook's.
Unlike Playbook, you'll work with live financial advisors at Empower, so it is the better choice if you prefer to get your financial advice from a human. However, if automated investment management works for you, you'll pay less with Playbook.
Playbook vs. Betterment
Betterment charges a $4 monthly fee and switches to a 0.25% annual fee once your recurring deposits total $250, or your balance is $20,000 or greater. That's still significantly less expensive than Playbook's fees as long as your investments total less than $187,000. The app doesn't offer a free trial, but at $4/month, your first 30 days won't cost much.
You can also trade crypto for a 1% trading expense, and the app offers a free savings account (
Like Playbook, algorithms determine Betterment's investment strategies.
Betterment is a more affordable choice for beginning investors or those with less money to save. If you want to put a significant amount under management, Playbook may be the less expensive option.
Playbook vs. Wealthfront
Wealthfront charges an annual advisory fee of 0.25%. If you don't have a lot of investments, this can be a better deal than Playbook's fixed fee model. For instance, if you invest $20,000 with Wealthfront, your annual fee would be $50 rather than Playbook's $468. However, if you have substantial investments, the price cuts the other way: Wealthfront's fees exceed Playbooks if you manage more than $187,000.
Is Playbook trustworthy?
The Better Business Bureau gives Playbook a D+ plus rating, although the company is not accredited by the BBB. That means it has not made a commitment to respond to BBB complaints. The BBB point out that many good businesses are accredited, but many other good businesses are not accredited.
The BBB cites Playbook's failure to respond to one complaint and the relatively short time the company has been in business as reasons for the D+ rating. The financial-planning platform was founded by David Hegarty and launched in 2021. It was incubated as part of venture-capital firm Atomic. It has been primarily using TikTok and Instagram for marketing.
Frequently asked questions
Is Playbook a legit app?
Yes, Playbook is legitimate. Its founder, David Hegarty, is a serial entrepreneur with a solid track record at reputable financial services companies such as Credit Karma. The platform has bank-level security with 256-bit encryption on its website, and it uses Plaid to view your account information securely. Playbook and Plaid don't store personal data.
Is the Playbook financial app worth it?
If you have more than $187,000 to invest and you'd like automated investment management, Playbook is worth it. At that level of investment, Playbook's flat fee (if you choose the annual plan) is cheaper than investment apps with an AUM of 0.25% or higher. And, if taxes are a pain point for you, consider Playbook for its focus on tax reduction strategies.
How much does the Playbook app cost?
- $79 per month, when you pay monthly
- $39 per month on an annual basis (you'll pay $468 up front)