WiseBanyan is still in its startup stage.Many users have observed that this shows in its “lack of polish”, not just in terms of the website, but also in how the deposits show within an account. ETF deposits show up on WiseBanyan’s website according to where they are actually held; Foliofn and Reich & Tang were mentioned as two of the major players. Effectively, WiseBanyan’s site is a “front end” for these. The site is extremely automated, meaning that it is possible to change the allocation of assets, but the funds within cannot be broken down by the user.Even thought the current site is limited in its offering,it does a fair job. At this point, it won’t be fair to compare it with a Betterment or a WealthFront…

One problem some users have noticed with WiseBanyan, however, is that their level of automation can make them difficult to contact.

“You have to hunt all over their website for a support address,” one commenter stated. “It’s difficult if you want to speak to a person.”

WiseBanyan comes with a Waiting List

Secondly, WiseBanyan comes with a waiting list. Unless you know somebody who already has an account and is willing to invite you, you may be unable to make your investment immediately. However, there are many users on forums who have already accumulated numerous invite codes.Hence, it may be possible to find one if you do some online exploration first. Once it’s all set up. it will take about five business days to see the money in your account. For some people, these “waiting” elements are annoying. while others have commented that WiseBanyan works on a model that requires patience.

“I believe people have an unnecessary need to be in constant contact with their investments. This type of investing is really meant for the long term. Once the account is up and running investors should leave it and only check it monthly at best.” Checking accounts constantly, according to some commenters, just creates anxiety and defeats the purpose of long-term investing; for these people, having to wait a little bit for WiseBanyan to respond is not a critical issue.

WiseBanyan seems to be faring best with people already interested in similar services, such as Betterment. Because it’s still fairly new, there’s still an element of “wait and see” involved.If you are lucky enough to get off the wait list and patient enough to work around a slightly less advanced website for the opportunity to invest for free.Then WiseBanyan  might be an option to consider.