THE DEBUNKING TRUTH ABOUT THE ALINEA INVESTMENT APP by aop3d

THE DEBUNKING TRUTH ABOUT THE ALINEA INVESTMENT APP by aop3d

aop3d tech
  • The High Cost of Empowerment: A Forensic Audit of Alinea Invest and the Gamification of Retail Finance
  • 1. Introduction: The Identity Fintech Paradox
  • The trajectory of retail finance over the past decade has been defined by a singular, relentless drive toward zero. Trading commissions, once the bread and butter of brokerage revenue, were driven to zero by the aggressive disruption of Robinhood and subsequently adopted by industry titans like Charles Schwab and Fidelity. Expense ratios for index funds have compressed to near-zero, with Fidelity even offering zero-expense ratio funds. In this hyper-efficient, commoditized landscape, a new breed of fintech has emerged, seeking to reintroduce friction—and fees—under the guise of "community," "identity," and "empowerment."
  • Alinea Invest represents the vanguard of this movement. Positioning itself as a "Gen Z" and "female-focused" platform, it eschews the sterile, chart-heavy interfaces of traditional brokerages in favor of a pastel-hued, emoji-laden ecosystem that promises to "de-stigmatize" wealth building. Its value proposition is anchored not in superior execution or lower costs, but in the curation of "playlists"—thematic bundles of stocks that allow users to invest in accordance with their values, be it "Climate Change," "Female Leadership," or "Black Lives Matter".
  • However, a rigorous forensic analysis of Alinea’s business model, fee structure, and execution mechanics reveals a startling divergence between its marketing narrative and its mathematical reality. While the platform champions financial inclusion, its flat-fee subscription model imposes a regressive cost structure that disproportionately erodes the returns of the very demographic it claims to serve—beginning investors with small capital bases. Furthermore, the platform's reliance on "playlists" introduces complex tax liabilities and execution inefficiencies often obscured by the user-friendly interface.
  • This report serves as an exhaustive, expert-level dissection of the Alinea ecosystem. By integrating data on payment for order flow (PFOF), tax-loss harvesting mechanics, underlying stock performance, and comparative fee analysis, we will demonstrate that for the vast majority of retail investors, the "empowerment" offered by Alinea comes at a premium that markets simply cannot justify. The "hidden secrets" of the app are not proprietary algorithms or alpha-generating strategies, but rather the mundane and often predatory mechanics of subscription breakage, order routing monetization, and the commodification of social identity.
  • 2. The Economics of "Inclusion": A Regressive Fee Structure
  • To understand the true cost of Alinea, one must look beyond the nominal dollar amount of the subscription and analyze the "effective expense ratio"—the fee expressed as a percentage of assets under management (AUM). In professional wealth management, fees are scrutinized to the basis point (one one-hundredth of a percent), as decades of research confirm that fees are one of the few reliable predictors of future underperformance.
  • 2.1 The Mathematics of the $120 Subscription
  • Alinea charges an annual subscription fee of approximately $120, often billed as ~$10 per month or in an annual lump sum. For a platform targeting "Gen Z," "children of immigrants," and "beginners" , this flat-fee structure creates a mathematically catastrophic headwind for wealth creation.
  • Consider the standard fee structures in the industry:
  • Vanguard/Fidelity/Schwab: $0 annual platform fee, $0 trading commissions.
  • Robo-Advisors (Wealthfront/Betterment): 0.25% of AUM annually.
  • Human Financial Advisor: ~1.00% of AUM annually.
  • When applied to the typical account balances of a beginner investor, Alinea’s $120 fee reveals its regressive nature.
  • Table 1: Effective Expense Ratio by Portfolio Size

Portfolio Balance

Alinea Fee ($120/yr)

Effective Expense Ratio

Robo-Advisor Fee (0.25%)

Market Impact (10% Return)

Net Return (Alinea)

$100

$120

120.00%

$0.25

+$10

-$110

$500

$120

24.00%

$1.25

+$50

-$70

$1,000

$120

12.00%

$2.50

+$100

-$20

$5,000

$120

2.40%

$12.50

+$500

+$380

$10,000

$120

1.20%

$25.00

+$1,000

+$880

$48,000

$120

0.25%

$120.00

+$4,800

+$4,680
  • Forensic Insight: The data in Table 1 illuminates a critical "break-even" point: a user must invest $48,000 with Alinea simply to achieve parity with the standard 0.25% fee of a premium robo-advisor. For any account balance below this threshold, the user is paying a premium for an inferior service. For a college student starting with $500—a core target demographic —the fee is 24% of their principal. Since the S&P 500 historically returns approximately 10% annually , this user is mathematically guaranteed to lose money in real terms, regardless of market performance. The fee consumes the entire expected return plus 14% of the principal. This is not investment; it is a subscription to asset deprecation.
  • 2.2 The "Free Trial" Breakage Model
  • The customer acquisition strategy relies heavily on a "freemium" psychology that transitions rapidly into a hard billing cycle. User reviews from Trustpilot and the Better Business Bureau (BBB) highlight a recurring pattern of "accidental" subscriptions. The mechanics are described as follows:
  • User downloads the app and links a bank account via Plaid.
  • A "7-day free trial" is initiated.
  • If the user does not cancel within the window, the full annual fee (often cited as roughly $120) is charged instantly.
  • Refunds are categorically denied for "unused time".
  • This reliance on "breakage"—revenue derived from services paid for but not used—is a classic monetization strategy for subscription apps (gyms, streaming services) but is ethically dubious in financial services. By locking users into a one-year contract upfront, Alinea secures revenue regardless of whether the user continues to invest or abandons the platform due to poor performance or "buggy" interfaces.
  • 2.3 The "Hidden" Subscription Variants
  • While the $120 figure is standard, some users report charges as high as $175. This discrepancy likely indicates a pricing tier strategy or a "monthly vs. annual" arbitrage where users paying monthly are charged a significant premium (e.g., $14.99/month vs $10/month billed annually). Crucially, users report that the app "holds your money until the free trial is over," effectively holding user funds hostage to ensure the subscription triggers. This intertwining of custody (holding the assets) and billing (charging the fee) creates a coercive relationship that incentivizes the platform to delay withdrawals—a point we will analyze in depth in the Operational Risks section.
  • 3. The "Playlist" Mechanism: Direct Indexing or Direct Drag?
  • Alinea’s central product differentiation is the "Playlist." The platform encourages users to stop buying single stocks or boring ETFs and instead buy "Thematic Playlists". In industry parlance, this is a simplified form of Direct Indexing. Direct indexing allows an investor to buy the individual components of an index (e.g., buying all 500 stocks in the S&P 500) rather than the ETF wrapper. For high-net-worth investors, this offers tax-loss harvesting benefits. For Alinea’s retail user base, however, it introduces structural inefficiencies that act as a hidden tax on returns.
  • 3.1 The "Wrapper" Fee Redundancy
  • Many Alinea playlists appear to be reconstructed versions of existing indices. For example, the "S&P 500" playlist.
  • The ETF Approach: An investor buys VOO (Vanguard S&P 500 ETF).
  • Cost: 0.03% expense ratio.
  • Complexity: 1 ticker to manage.
  • The Alinea Approach: An investor buys the "S&P 500 Playlist."
  • Cost: $120/year subscription.
  • Complexity: The user now beneficially owns fractional shares of 500 companies (or a representative sample).
  • If the playlist contains ETFs (which Alinea supports), the fee layering becomes explicit. If a user buys a "Climate" playlist that holds the ICLN ETF, they pay:
  • The 0.46% expense ratio of ICLN (internal to the fund).
  • The $120 Alinea subscription fee. This "fee-on-fee" structure is characteristic of predatory financial products, where layers of intermediaries each take a cut of the investor's capital without adding distinct value.
  • 3.2 The Tax Nightmare of Automated Rebalancing
  • The most pernicious "hidden secret" of the playlist model is the tax consequence of rebalancing. Snippet details the "rebalancing act," noting that selling assets that have appreciated to buy those that have declined triggers capital gains taxes in taxable brokerage accounts. In a standard ETF, the fund manager rebalances the portfolio internally. Due to the "in-kind creation/redemption" mechanism unique to the ETF structure, these internal trades generally do not trigger capital gains taxes for the shareholder until the ETF itself is sold. In a "Playlist," the user directly owns the underlying stocks.
  • Scenario: A user owns a "Tech" playlist. NVIDIA surges 50%. The portfolio is now overweight NVIDIA.
  • The Event: The user (or the app's automation) rebalances the playlist to restore original weights.
  • The Consequence: The app sells a portion of the NVIDIA position. Since the position was likely held for less than a year (given the target demographic's time horizon), this triggers a Short-Term Capital Gain, taxed as ordinary income (up to 37% federal + state tax).
  • For a young investor filing taxes, receiving a 1099-B with thousands of micro-transactions (sells of $0.45 of Tesla, $0.12 of Apple) is an administrative nightmare. More importantly, the tax drag—the reduction in net returns due to taxes paid on realized gains—can reduce portfolio efficiency by 1-3% annually compared to a tax-efficient ETF strategy. Alinea’s marketing materials gloss over this "tax drag," presenting rebalancing purely as a risk management tool without disclosing the fiscal costs.
  • 3.3 Case Study: The "Female Founded" Playlist Performance
  • Alinea promotes a "Female Founded" playlist as a way to "invest where your mouth is". The marketing implies that investing in these companies is both a moral good and a path to wealth. However, a forensic look at two flagship "female-founded" stocks often cited in such baskets—Bumble (BMBL) and Stitch Fix (SFIX)—reveals the danger of conflating social values with investment factors.
  • Bumble (BMBL): Founded by Whitney Wolfe Herd.
  • Performance: Snippet indicates that in the last 10 years (or since IPO), the Bumble to S&P 500 price ratio has fallen by -93%. The stock has been a massive wealth destroyer relative to the benchmark.
  • Recent Trend: Down -53.64% over the past year.
  • Stitch Fix (SFIX): Founded by Katrina Lake.
  • Performance: While showing some short-term volatility, the stock is trading around $5 , significantly down from its all-time highs (often >$80 during the pandemic peak).
  • Implication: A user who bought the "Female Founded" playlist in 2021 (when Alinea launched and these stocks were hyped) would likely have suffered catastrophic losses of 70-90% on these positions, far underperforming the misogynistic but profitable S&P 500. Alinea’s "playlist" model encourages Factor Investing (selecting stocks based on attributes) but bases the factors on social identity rather than financial quality (profitability, cash flow). While socially noble, this approach has historically led to underperformance, as "identity" is not a compensated risk factor in asset pricing models.
  • 4. Execution Quality: The Plumbing of Predation
  • Alinea is not a broker-dealer; it is an SEC-registered investment adviser that relies on third-party infrastructure. Its backend is provided by DriveWealth, LLC. This distinction is critical because it dictates how trades are executed and who profits from them.
  • 4.1 Payment for Order Flow (PFOF)
  • DriveWealth, like the infrastructure behind Revolut and Cash App, monetizes order flow. Snippet is explicit: "DriveWealth Institutional maintains agreements with downstream market centers... that pay for order flow." Snippet : "A portion of the payments received... are rebated to DriveWealth LLC."
  • The Mechanics of PFOF:
  • The Order: An Alinea user taps "Buy $50 of Apple."
  • The Route: Alinea sends the order to DriveWealth. DriveWealth does not send it to the NASDAQ.
  • The Sale: DriveWealth sells the order to a high-frequency trading firm (Market Maker) like Citadel or Virtu.
  • The Rebate: The Market Maker pays DriveWealth a fee (e.g., fractions of a cent per share) for the privilege of executing the trade.
  • The Conflict: The Market Maker profits by capturing the Bid-Ask Spread. If Apple is trading at $150.00 (Bid) / $150.02 (Ask), they sell to the user at $150.02. A broker that does not accept PFOF might execute the trade at the midpoint ($150.01).
  • The "Hidden Cost": While Alinea touts "Commission Free" trading, the user pays a "hidden commission" in the form of wider spreads.
  • ETF Trade (Vanguard): 1 trade, 1 spread.
  • Playlist Trade (Alinea): 50 trades, 50 spreads. By fragmenting a $100 investment into 50 fractional slivers of $2.00 each, Alinea maximizes the number of "execution events," thereby maximizing the PFOF revenue generated for DriveWealth (and potentially shared via rebates). The user effectively suffers "death by a thousand cuts" on execution pricing.
  • 4.2 The "Not Held" Order Trap
  • Snippet reveals a crucial legal detail in DriveWealth’s disclosures: "A material portion of DriveWealth LLC's orders are routed... on a not held basis." Definition: A "Not Held" order gives the broker discretion as to the price and time of execution. The broker is not held responsible for getting the absolute best price at that exact second; they are merely required to execute within the day's range or reasonable parameters.
  • Implication for Users: Unlike a "Limit Order" (Buy Apple at $150.00 or better), a Not Held market order allows the clearing firm to batch trades and execute them when it is most profitable for the firm. In volatile markets, this results in Slippage—the difference between the price the user saw on the screen and the price they actually paid.
  • The Playlist Multiplier: When a user rebalances a playlist of 50 stocks, they unleash 50 "Not Held" market orders simultaneously. The cumulative slippage across these trades can be substantial, further eroding returns.
  • 4.3 Settlement and Clearing Risks
  • Because Alinea is an introducing layer on top of DriveWealth, users are subject to the operational stability of the underlying clearing firm. User complaints regarding DriveWealth’s handling of transfers (DRS) and "30 day" wait times for simple operations suggest a backend that is often overwhelmed or de-prioritized for small retail accounts. The "buggy" nature of the app described by users is often a symptom of the API disconnect between the frontend app (Alinea) and the ledger of record (DriveWealth).
  • 5. Marketing vs. Reality: The TikTok Distortion Field
  • Alinea’s growth strategy is aggressively "social-first," leveraging TikTok and Instagram to acquire users. This strategy necessitates a simplification of financial concepts that often crosses the line into misinformation.
  • 5.1 The "14% Return" Mirage
  • User reports seeing TikTok ads where founders display "investment returns of 11 to 14%," only to experience "3% or less" in reality. Regulatory Context: The SEC’s "Marketing Rule" (Rule 206(4)-1) strictly regulates how investment advisers present performance. Showing hypothetical or cherry-picked returns without massive, prominent disclosures is a violation. The discrepancy likely arises from the difference between Time-Weighted Returns (market performance) and Money-Weighted Returns (user performance).
  • The Trap: If a user subscribes ($120 fee) and invests $500, and the market goes up 10% ($50 gain), their account value is $500 + $50 - $120 = $430.
  • The Reality: The user has a negative return of -14%, even if the "playlist" technically went up 10%. The marketing highlights the playlist's theoretical return, ignoring the user's net return after fees.
  • 5.2 The AI "Allie" Hallucination
  • Alinea markets "AI-Powered Insights" via its assistant "Allie". Risk Analysis: Generative AI models (LLMs) are notorious for "hallucinations"—confidently stating false information. In finance, this is dangerous.
  • Snippet Disclaimer: "Account holdings are for illustrative purposes only and are not investment recommendations."
  • The Paradox: The app sells "AI Insights" to "optimize your investments" but disclaims that these insights are not recommendations. If "Allie" suggests a stock based on a "trend," and the user buys it, who is liable for the suitability of that advice? Alinea’s Terms of Service likely indemnify them against any "advice" given by the AI, rendering the feature a novelty toy rather than a fiduciary tool.
  • 5.3 The Psychology of "Community"
  • Alinea pushes "Community" features where users can share playlists. Behavioral Finance Perspective: This feature institutionalizes Herding Behavior.
  • The Mechanism: If a "Crypto" or "Meme Stock" playlist gains popularity on the app's social feed, new users will flock to it (Fear Of Missing Out - FOMO).
  • The Result: Users buy high (at the peak of social hype) and sell low (when the hype fades).
  • The Critique: True wealth management often involves contrarian thinking—buying when others are fearful. By building a platform around social consensus, Alinea structurally encourages "buy high, sell low" behavior.
  • 6. Operational Risks: The Hotel California Effect
  • The true test of a financial platform is not how easy it is to onboard, but how easy it is to offboard. Here, Alinea fails the "forensic audit" spectacularly.
  • 6.1 The Withdrawal Friction
  • "It's impossible to withdraw money." "They are holding my money id verification lie." These complaints describe a Dark Pattern in UX design known as "Roach Motel" (easy to get in, hard to get out).
  • The Identity Loop: Users report being asked for ID verification again at the point of withdrawal, despite having provided it at deposit. This introduces artificial friction.
  • The Support Void: Unlike Fidelity, which offers 24/7 phone support, Alinea relies on asynchronous email/chat. When a withdrawal hangs, users are left in limbo for days.
  • 6.2 The ACATS Fee Trap
  • If a user decides to leave Alinea but wants to keep their stocks (to avoid the tax hit of selling), they must perform an ACATS Transfer (Automated Customer Account Transfer Service). The Cost: DriveWealth/Ally typically charges an outgoing ACATS fee of $50 to $75.
  • The Math: For a user with a $500 account, a $75 transfer fee is a 15% exit tax.
  • The Trap: The user is economically coerced to stay. They can either:
  • Pay $120/year to stay.
  • Pay $75 once to leave (transfer).
  • Sell everything (triggering taxes) and withdraw cash (risking the "withdrawal friction" described above).
  • This "Exit Tax" effectively locks small-balance users into the ecosystem until their equity is slowly consumed by the subscription fees.
  • 7. Comparative Market Analysis
  • To fully debunk the "Alinea is unique" narrative, we must compare it to competitors offering identical utility.
  • 7.1 Alinea vs. Fidelity Basket Portfolios
  • Fidelity recently launched "Basket Portfolios," a direct clone of the playlist model.
  • Cost: $4.99/month ($60/year).
  • Alinea Cost: ~$120/year.
  • Execution: Fidelity does not accept PFOF for stock trades, ensuring better price execution.
  • Support: 24/7 phone support vs. Alinea’s chat bot.
  • Verdict: Fidelity offers a superior product for 50% of the price.
  • 7.2 Alinea vs. M1 Finance
  • M1 Finance pioneered the "Pie" investing model.
  • Cost: Free (historically) or $3/month for accounts under $10k.
  • Alinea Cost: ~$10/month.
  • Feature: M1’s "Smart Transfers" and dynamic rebalancing are more mature than Alinea’s playlists.
  • Verdict: M1 is the functional prototype Alinea copied, but remains 70% cheaper ($36 vs $120).
  • 7.3 Alinea vs. Robo-Advisors (Wealthfront)
  • Cost: 0.25% AUM.
  • Alinea Cost: >2.0% for accounts <$6,000.
  • Feature: Wealthfront offers "Direct Indexing" (Tax-Loss Harvesting) for accounts over $100k, where it actually makes mathematical sense.
  • Verdict: Alinea attempts to sell a sophisticated tool (direct indexing) to an audience (beginners) who cannot benefit from it, charging a premium price for the mismatch.
  • Table 2: The Competitive Matrix

Feature

Alinea Invest

Fidelity Baskets

M1 Finance

Wealthfront

Annual Fee

~$120

$60

$36 (or $0 if >$10k)

0.25% AUM ($12.50 on $5k)

PFOF?

Yes (DriveWealth)

No (Stocks)

Yes

No (Robo execution)

Exit Fee (ACATS)

~$75

$0 (if staying in ecosystem)

~$100

$75

Support

Email/Chat

Phone/Branch

Email/Phone

Email/Phone

Tax Efficiency

Low (Manual/Auto Rebalance)

Medium

Medium

High (Auto Tax-Loss Harvesting)
  • 8. Conclusion: The Commodification of Good Intentions
  • Alinea Invest is a case study in the "pink tax" applied to fintech. It takes a standardized, low-cost commodity—retail stock trading—wraps it in the language of female empowerment and social justice, and sells it at a markup that would make a payday lender blush.
  • The "hidden secrets" of the app are not proprietary trading algorithms or exclusive market access. They are:
  • Regressive Pricing: Charging the poor (small accounts) a higher percentage of their wealth than the rich.
  • Order Flow Monetization: Subsidizing the "commission-free" model by selling user data to high-frequency traders via DriveWealth.
  • Tax Inefficiency: promoting "active" portfolio management (playlists) that generates tax liabilities for users ill-equipped to manage them.
  • Operational Lock-in: Using high ACATS fees and withdrawal friction to prevent churn.
  • Final Verdict: For the Gen Z investor, the most "empowered" decision is to reject the gamification of their financial future. The "boring" path—opening a free account at a major custodian like Fidelity or Schwab, buying a total market ETF (VTI or VT), and automating deposits—remains the only strategy that guarantees the investor keeps their returns. Alinea charges you to play a game where the house, the clearing firm, and the tax man are the only guaranteed winners.
  • References & Data Sources
  • Fee Structure:
  • DriveWealth/PFOF:
  • Tax/Rebalancing:
  • Competitor Data:
  • Stock Performance:
  • User Reviews:
  • Marketing/Claims:
  • Works cited
  • 1. Alinea: Creating Investment Opportunities For All - YouTube, https://www.youtube.com/watch?v=PPJoOnT0_Fs 2. Alinea Invest Co-Founders Featured on Forbes 30 Under 30 - FoundersX Ventures, https://www.foundersx.com/blog/alinea-30 3. ALINEA, NEW FEMALE-FOUNDED FINTECH AND Y COMBINATOR BACKED APP, REINVENTS CREATIVE INVESTING FOR GEN Z - PR Newswire, https://www.prnewswire.com/news-releases/alinea-new-female-founded-fintech-and-y-combinator-backed-app-reinvents-creative-investing-for-gen-z-301473967.html 4. Alinea Invest — Next Gen Investing, https://www.alinea-invest.com/ 5. Alinea: Personalized Investing - App Store - Apple, https://apps.apple.com/us/app/alinea-personalized-investing/id1554623825 6. Alinea Invest's AI Powered Gen Z Wealth Management App | by Digger Insights | Medium, https://medium.com/@DiggerInsights/alinea-invests-ai-powered-gen-z-wealth-management-app-b26f5649cf7a 7. Read Customer Service Reviews of www.alinea-invest.com - Trustpilot, https://www.trustpilot.com/review/www.alinea-invest.com 8. Read Customer Service Reviews of www.alinea-invest.com | 2 of 2 - Trustpilot, https://nz.trustpilot.com/review/www.alinea-invest.com?page=2 9. How do I get out of the Alinea Invest scam? : r/personalfinance - Reddit, https://www.reddit.com/r/personalfinance/comments/1obo2u8/how_do_i_get_out_of_the_alinea_invest_scam/ 10. Maintaining Your Portfolio is a Rebalancing Act - McLean Asset Management, https://www.mcleanam.com/maintaining-your-portfolio-is-a-rebalancing-act/ 11. Ally Invest Help Center: Taxes FAQs, https://www.ally.com/help/invest/taxes/ 12. 5 Financial Tools Made and Managed by Women to Help Creative Leaders - The Luupe, https://studio.theluupe.com/blog/5-financial-tools-made-and-managed-by-women-to-help-creative-leaders 13. Bumble To S&P 500 Ratio - Trefis, https://www.trefis.com/data/companies/BMBL/no-login-required/W16kbbgu/Bumble-To-S-P-500-Ratio 14. Bumble Stock Price History - Investing.com, https://www.investing.com/equities/bumble-historical-data 15. Stitch Fix Stock Price History - Investing.com, https://www.investing.com/equities/stitch-fix-historical-data 16. SEC Rule 606 Material Aspects of Relationships - DriveWealth Legal Hub, https://legal.drivewealth.com/rule-606-material-aspects 17. SEC Rule 606 Material Aspects of Relationships (DriveWealth LLC), https://legal.drivewealth.com/sec-rule-606-material-aspects-of-relationships-drivewealth-llc 18. Revolut / Drivewealth do they really have my actions or just take my money and are faking it? The strange problem of transfers in DRS. - Reddit, https://www.reddit.com/r/Revolut/comments/q150gb/revolut_drivewealth_do_they_really_have_my/ 19. First time investor using Alinea - legit or not? : r/investing - Reddit, https://www.reddit.com/r/investing/comments/15jjrrr/first_time_investor_using_alinea_legit_or_not/ 20. تطبيق Acorns: Invest For Your Future - App Store - Apple, https://apps.apple.com/us/app/acorns-invest-for-your-future/id883324671?l=ar 21. Ally Invest Help Center: Transfers FAQs, https://www.ally.com/help/invest/transfers/ 22. Fidelity Basket Portfolios | FAQs | Fidelity Investments, https://www.fidelity.com/direct-indexing/customized-investing/faqs 23. Pros and Cons for both Recurring Investment vs Fidelity Basket Portfolios - Reddit, https://www.reddit.com/r/fidelityinvestments/comments/1ade19p/pros_and_cons_for_both_recurring_investment_vs/ 24. Fidelity vs. M1 Finance - SmartAsset.com, https://smartasset.com/investing/fidelity-vs-m1finance 25. Anyone Switching From M1 Finance to Fidelity Basket Portfolios? - Reddit, https://www.reddit.com/r/fidelityinvestments/comments/1eiakjr/anyone_switching_from_m1_finance_to_fidelity/ 26. Anyone use Alinea App? : r/personalfinance - Reddit, https://www.reddit.com/r/personalfinance/comments/1q31kp7/anyone_use_alinea_app/ 27. Payment for Order Flow (PFOF): Definition and How It Works - Investopedia, https://www.investopedia.com/terms/p/paymentoforderflow.asp 28. Payment for order flow (PFOF) - Clifford Chance, https://www.cliffordchance.com/insights/resources/blogs/talking-tech/en/articles/2021/07/payment-for-order-flow-pfof.html 29. Our approach to portfolio rebalancing for taxable investors - Brown Brothers Harriman, https://www.bbh.com/us/en/insights/capital-partners-insights/our-approach-to-portfolio-rebalancing-for-taxable-investors.html 30. Rebalancing portfolio will jack up tax bracket 2 levels. Should I? : r/personalfinance - Reddit, https://www.reddit.com/r/personalfinance/comments/1q3s4ta/rebalancing_portfolio_will_jack_up_tax_bracket_2/ 31. Mobile Investing: Unlock Your Financial Future - Alinea Invest, https://www.alinea-invest.com/press/mobile-investing-unlock-your-financial-future
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