Domain Money review 2024
- Stock trade fee
- N/A
- Minimum deposit
- $0
Our verdict
Flat-fee financial plans with unbiased advice from Domain Money, but its plan costs are on the high end.
Domain Money offers a modern financial planning approach, with customizable plans and ongoing access to certified financial planners. Plans range in price from $2,500 for a one page plan to clean up your finances to $7,500 for a comprehensive plan of everything in your life that touches money. Domain Money offers a free consultation so you can see if it's the right fit. But unlike some financial advisors, Domain Money doesn't offer ongoing portfolio management.
Best for: Tech-savvy individuals or families who want a personalized financial plan.
Pros
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On-demand financial advice
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3 plan types to choose from depending on your needs and goals
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Shared household planning
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Sleek, user-friendly mobile app to access your financial plan and communicate with your dedicated advisor
Cons
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Plan costs on the high end
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No asset management
Domain Money is best for personalized financial plans
With its flat-fee structure and technology-driven platform, Domain Money is best for tech-savvy investors who want straightforward, unbiased financial advice and planning. Focus on a specific area of your finances or get a comprehensive financial plan that considers all aspects of your financial life.
What we like about Domain Money
Domain Money stands out for its user-friendly platform, personalized financial planning and satisfaction guarantee.
Sleek, user-friendly mobile app and platform
Domain Money offers a modern financial planning experience for individuals and families. With meetings by phone or video call, connect with a dedicated financial professional to build a customized financial plan around the specifics of your financial life.
The Domain Money platform is as straightforward as it gets. A dashboard to view your full financial picture, a section dedicated to your financial plan, with quick access to your financial advisor, and all the financial planning tasks you’ve completed. Domain Money’s modern platform is a nice compliment to its uncomplicated approach to financial planning and advice.
Domain Money is available for both Android and Apple users. It has no reviews yet on the Google Play store but has a rating of 4.5 out of 5 stars based on over 290 reviews on the Apple App Store, as of April 2024.
Several plan options
We like that Domain Money offers several financial plan options to choose from, giving customers the freedom to focus on specific aspects of their finances or get a comprehensive financial plan that incorporates the entirety of their financial life. Recommendations and advice are bite-sized, so they’re easy to follow and tackle.
What’s more, Domain Money’s financial planners don’t earn commission on products they recommend — you get access to certified financial planners who are legally obligated to act with your best interests in mind. It’s unbiased advice and customized financial plans tailored to your unique situation and goals.
Satisfaction guarantee
Domain Money’s one of the only financial advisors we review that offers a refund if customers aren’t satisfied with their plan. This says a lot about the service.
Where Domain Money falls short
Domain Money’s services financial plan costs come in on the high end, which will put the service out of reach for some. It’s lowest-priced plan, a one-page plan that addresses specific goals, is $2,500. For a comprehensive financial plan, one that includes everything in your life that deals with money, you’ll need to pay a $7,500 flat fee. Recent research shows the median standalone fee for a comprehensive financial plan in 2022 was $3,000.(1)
Domain Money’s costs
| Type of fee | Fee details |
|---|---|
| One-page plan | $2,500 |
| Strategic Plan | $4,500 |
| Comprehensive Plan | $7,500 |
| Periodic updates to your financial plan | $500 |
| Hourly coaching sessions | $300 |
Is Domain Money legit?
Yes, Domain Money is a legitimate company and investment advisor registered with the US Securities and Exchange Commission (SEC). Domain Money is a New York-based investment advisory firm founded in 2021 by former Goldman Sachs partner Adam Dell. Investors include Bessemer Venture Partners, Salesforce Founder and CEO Marc Benioff and Palantir founder Joe Lonsdale.
Domain Money first launched in January 2022 as an investment platform that offered professionally managed portfolios of stock and cryptocurrencies, along with self-directed trading. At the height of the crypto winter in September 2022, Domain Money filed plans to shift its business model to automated ETF portfolios. It most recently offered all-in-one wealth management that combined automated ETF portfolios with full-service financial planning and today solely offers financial planning services.
Its platform is also considered safe and secure. The company notes that it uses bank-grade encryption to secure client data and doesn’t sell your personal information for any reason.
What Matt thinks about Domain Money
Domain Money's flat-fee structure removes much of the potential conflict that undermines commission-based and asset-based advisors. Instead of wondering if the advisor is merely after a commission, with Domain Money, you pay for financial planning that's unbiased and best for you.
— Matt Miczulski, Editor, Investments.
Customer experience
Domain Money doesn’t have a profile with the Better Business Bureau (BBB) or Trustpilot, making it difficult to gauge its online customer sentiment. Feedback on Reddit is sparse, but at least one customer seems pleased with the service.
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Frequently asked questions
How does Domain Money work?
Domain Money works as a flat-fee financial planning service, offering customizable financial plans tailored to each individual.
Is Domain Money FDIC-insured?
Domain Money only offers financial planning services. It does not offer products that would be FDIC-insured.
How much does Domain Money cost?
Domain Money offers a one-page plan for $2,500, a strategic plan for $4,500 and a comprehensive plan for $7,500.
Where is Domain Money headquarters
Domain Money is headquartered in New York, New York.
Your reviews
Matt Finder
Editor, Investments
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