--- title: "Frequently asked questions" description: "Short answers about alooola's fees, safety, account types, deposits, withdrawals, transfers and how your portfolio is managed." url: https://support.alooola.com/faq docs_index: https://support.alooola.com/llms.txt --- # Frequently asked questions > Short answers about alooola's fees, safety, account types, deposits, withdrawals, transfers and how your portfolio is managed. Short answers to what members ask most. Each one links to the full guide. Can't find yours? Email [support@alooola.com](mailto:support@alooola.com). ## Getting started ### How long does it take to open an account? About five minutes. Most identity checks clear right away, and the account opens as soon as yours does. See [Open an account](/getting-started). ### What do I need to sign up? Your phone, an email address, your date of birth, your home address and your Social Security number. Every US brokerage asks for these. ### Is there a minimum to open an account? You can open an account and start with any amount. The app shows any minimum for a specific account before you confirm. ## Costs ### How much does alooola cost? A simple advisory fee, charged quarterly, with no hidden costs: 0.25% a year on balances up to $25,000, and 0.50% a year above that. Standard trading costs and performance reports are included. A rare transaction, such as a large options order or an annuity, can have its own cost, and we discuss it with you first. The exact rate for your balance is on the **Pricing & Disclosures** screen before you open the account. ### Can I leave at any time? Yes. We ask for written notice, and your fee is pro-rated to the date you leave. ### Does alooola earn anything else? If you buy an insurance policy through our affiliate, your advisor earns a commission. Our [Form CRS](https://alooola.com/form-crs) explains this and other conflicts of interest. ### Are there fees to transfer an account in? We don't charge one. Your current firm may charge a transfer-out fee, often listed as "ACAT" on their fee schedule. ## Security ### Where is my money held? At Apex Clearing, a member of FINRA and SIPC, not at alooola. SIPC protects you if a brokerage firm fails, up to its limits. It does **not** protect against your investments losing value. See [Security and privacy](/security). ## Your accounts ### What accounts can I open? Individual, Joint, Traditional IRA and Roth IRA accounts. You can have more than one. You can also [connect an employer 401(k)](/connect-401k) and [transfer accounts from other firms](/account-transfers). ### Can I choose my own investments? You choose the strategy your portfolio follows, and we build and manage the portfolio. You don't pick individual stocks. You can change your strategy in the app at any time. See [How do I change my portfolio?](/account-settings#how-do-i-change-my-portfolio) In a connected 401(k), you can also choose **Self-manage** and pick from your plan's funds. ### Where are my statements and tax forms? In **Profile**, then **Document Vault**. Statements are in **Investments**, and tax forms are in **Taxes**. See [Statements and tax forms](/statements). ### Can my spouse see my accounts? Yes, if you invite them. They can see your balances and holdings, but can't move money or change anything. See [Share your accounts with your spouse](/invite-your-spouse). ### How long does a transfer from another firm take? Most take five to seven business days. Home shows a "pending" count while it's under way. See [Transfer outside accounts](/account-transfers). ## Money in and out ### How long does a deposit take? One to three business days. It shows as pending on the account until then. See [Deposits and withdrawals](/fund-your-account). ### Can I set up automatic deposits? Yes. Choose weekly, every 2 weeks or monthly, on the day you pick. Each account has one recurring deposit. See [How do I set up a monthly deposit?](/fund-your-account#how-do-i-set-up-a-monthly-deposit) ### Can I withdraw money at any time? Yes. Newly deposited money has to settle first, and when investments are sold, the cash is ready about one business day later. IRA withdrawals follow IRS rules and may be taxed. See [How do I withdraw money?](/fund-your-account#how-do-i-withdraw-money) ## Investing ### What happens when the market drops? Drops are a normal part of investing. Your portfolio is rebalanced to stay in line with the strategy you chose. If your goals or timeline change, you can change your strategy, or talk it through with your advisor. Investing involves risk, including possible loss of principal. ### What does rebalancing mean? Over time, the investments that grow fastest become a bigger share of your portfolio. Rebalancing trims them back to the strategy's target mix. We do it for you. ### Is the retirement estimate a guarantee? No. It's a hypothetical estimate built from your accounts, your recurring deposits and the assumptions you set. It is not a guarantee of future results. Investing involves risk, including possible loss of principal. See [Your retirement plan](/retirement-planning). ### How do I talk to my advisor? Book a call in the app: open **Profile**, then **Contact an Advisor**. See [Contact us or book a call](/contact).