Santander investment platform

Question

Santander (the bank) offer an 'investment platform', where you can invest in various funds (albeit, a limited range) for a management fee.

Is this a reasonable provider to use? What are the pros and cons over an online broker?

Answer 1

If you look carefully, you'll see that the "bank side" of the company is not offering this function.

https://www.santanderbank.com/us/personal/investing-insurance/investment-services

Securities and advisory services are offered through Santander Investment Services, a division of Santander Securities, LLC. Santander Securities, LLC is a registered broker/dealer, Member FINRA and SIPC and a registered investment advisor. Insurance is offered through Santander Securities, LLC or its affiliates.

Many banks have affiliated investment arms. I'd bet it's management fees are pretty high.

What are the pros

Convenience of a single web site for banking and investing.

and cons over an online broker?

(This is an online broker.)

Expense. Low cost brokers and mutual fund firms like Vanguard, Fidelity and Schwab are definitely the way to go.