Webull Smart Advisor

What does Webull Smart Advisor do?

Webull Smart Advisor provides automatic and customized investing services for users based on their risk tolerance levels. It provides six different diversified portfolios made up primarily of ETFs. Your customized portfolio is automatically generated based on your risk assessment result.

How do I open a Webull Smart Advisor account?

You’ll need to do a risk assessment before you can open an account. After the risk assessment, you will select a portfolio and fill out an account application. It will take 1-3 business days for your account application to be processed.

Who is eligible to open a Webull Smart Advisor account?

You must reside in the U.S. full-time to use Webull’s services. You must also be 18 years old.

What’s the minimum amount to invest?

You can start with a minimum deposit of $100.

How do I fund my Webull Smart Advisor account?

You can fund your Webull Smart Advisor account via ACH, wire, or for some clients, from your existing Webull Financial account. Not all clients will see the option to transfer but we are working hard to make it possible for all Webull Financial clients to easily transfer cash to their Smart Advisor account.

Are there any costs in a Webull Smart Advisor account?

For accounts opened on or before June 22, 2024, you will enjoy a 6-month free period from the opening date. For accounts opened on or after June 23, 2024, the free period will be 3 months. Fees are calculated daily based on the account balance at an annual rate of 0.2% and deducted monthly.

Fee calculation

After the trial period expires, fees will be calculated using the following formula: Daily Accrued Fee = (The account's closing Net Account Value of the previous day * annual rate of 0.2%) / 365. In leap years, the divisor in the formula changes to 366 instead of 365.

Fee deduction

1. Fees accumulated throughout each month will be automatically debited from the account’s cash balance on the second trading day of the following month.
2. If the account balance is insufficient, a portion of assets will be liquidated to cover the fee.
3. At the time of account termination, any outstanding fees will be deducted from the available cash or offset through asset liquidation.
4. If a fee deduction fails, any outstanding fees will be carried forward to the next billing cycle.

Can I change my portfolio?

Absolutely. Go to 'Revisit Your Portfolio' in the ‘Action’ tab. Slide the gauge to the left or right to see portfolios with different risk levels. You can only switch to a portfolio that is one level higher or one level lower than your current risk tolerance level assigned based on your answers to the Risk Tolerance Questionnaire. For example, if your current risk tolerance level is ‘Moderate Conservative', you can only change to a ‘Conservative’ or ‘Moderate’ portfolio. If you want to select a portfolio that is more than one level higher or lower than your current risk tolerance level, you need to take the risk assessment again to update your risk tolerance level.

How do I modify my risk tolerance level?

Choose a portfolio that is more than one level higher or lower than your current risk tolerance level and click ‘Save’. This will lead you to the risk assessment. Please note that you may only re-take the risk assessment twice every 3 months.

How does Webull Smart Advisor manage my assets?

Based on your answers to the risk tolerance questionnaire, Webull Smart Advisor will determine your risk tolerance and match you with a portfolio created for that risk level. We will manage your assets using this portfolio, which will be periodically rebalanced based on market conditions and fluctuations in asset prices.

Can I choose the investment and timing of trading in my portfolio?

No. Webull Smart Advisor accounts are fully discretionary, meaning Webull Advisors makes investment decisions on your behalf, you will not be able to choose the ETFs or time of the trades.

How is the portfolio managed?

The model portfolio is managed by State Street Global Advisors (SSGA), and are based on SSGA’s Active Asset Allocation ETF portfolios. The portfolio seeks to capitalize on short-and long-term mispricing in the global equity and fixed income markets by overweighting asset classes that appear attractive and underweighting less attractive asset classes. Among these risk-based portfolios, the more conservative model portfolios are designed to focus on capital preservation, with some consideration given to growth of capital. The more aggressive model portfolios are primarily focused on growth of capital.

When will my portfolio start to invest after my deposit?

Depending on the source of the deposit, it could take up to 5 business days for the funds to settle. Instant buying power is made available to your account during the processing of your ACH deposit. Once the funds settle or buying power is updated within your account, the necessary trades will be automatically scheduled based on your model portfolio and current holdings. If this is your first deposit, the necessary purchase orders will be completed within 2 business days. If you are making an additional deposit to an existing portfolio the process to rebalance could take up to 7 business days depending on trades that are already scheduled or have just occurred. In case of exceptional circumstances, there might be a slight delay. You can contact customer service for more details.

Once I submit a request to withdraw funds, how long will it take for the funds to be credited?

If there is enough cash in your account to cover the request, the withdrawal will process immediately. However, if there is not enough cash in your account, the system will generate orders to sell positions to generate the necessary funds for your withdrawal. Once the sell orders settle , the proceeds from the sale will be used to process your withdrawal. If there are other rebalance orders in process, the system will finish those before executing the necessary sell orders for the withdrawal, this can cause the process to take up to 8 business days but will typically be settled within 2-3.

The time it takes for funds to be credited to your external account can vary depending on the bank and payment system used. Typically, ACH transfers take 3 to 5 business days to credit, while wire transfers usually take 1 to 2 business days. In case of exceptional circumstances, there might be a slight delay. You can contact customer service for more details.

Can I cancel or modify my withdrawal request after submitting it?

After you submit your withdrawal request, you can cancel or modify it by going to your account page, clicking on the 'Actions' tab, finding the corresponding withdrawal, and making changes or canceling it before the next business day. Once that time has passed, you will no longer be able to make any changes or cancel the request.

Why do I keep seeing the status as "submitted" after I have submitted my account closure request？

When you submit the request to close your account you must choose to either liquidate assets and transfer out the cash or transfer the assets in kind to another brokerage account. If you choose to liquidate, we will begin generating the necessary sell orders but depending on pending rebalancing, this process may take up to 8 business days for the cash to fully settle and be ready for withdrawal. Once the funds settle, they will be sent to the external account you chose, and the account will close. If you instead choose to transfer in-kind, the process will begin as soon as all pending trades settle and may take up to 7 business days. Once the assets are transferred out, the account will be closed. Additionally, if you are transferring assets to a third-party brokerage, you will need to initiate the transfer request on your third-party brokerage platform after being notified that the fractional share trades have been successfully sold.

What should I do if my withdrawal fails?

You can go to the 'History' tab on your account page to check the transfer records, find the failed transfer record and click 'Retry'. Please note that currently, you are unable to modify the withdrawal amount when retrying the withdrawal.