Kaufman Franz Wealth Management has been flagged by ASIC (Australia) for "Unlicensed (Legacy)". Phones: 81345790696
Addresses: Nihonbashi Talk Building 3 Nihonbashi Hongokucho Chuo Tokyo Japan; 111 Nassau Street New York NY 10038 USA; US Saturn Tower Leonard Bernstein Strasse Vienna 1220 Austria This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: www.kaufmanfranz.com.
I wanted to transfer my portfolio from another broker to Kaufman Franz Wealth Management. They said they do not accept in-kind transfers for my asset type. I had to sell, withdraw, deposit, and rebuy - incurring taxes and spread costs. They did not tell me this before I signed up.
Pros: Segregated accounts|Responsive team|Market news feed
Cons: No integrated tax optimization|Nothing significant
KYC with Kaufman Franz Wealth Management is a nightmare. I submitted my ID and proof of address. They rejected it and asked for a utility bill. I sent it. They asked for a bank statement. Then they asked for a selfie with the ID. Then they said the selfie did not match. I gave up.
Pros: Regular updates|Fast deposits|Great customer service|Responsive team
Cons: Website design could be more modern|Limited ETF selection
Do not believe the bonus offer from Kaufman Franz Wealth Management. The turnover requirement is designed so you can never withdraw. I learned the hard way. I deposited when my bank disappointed me and I searched for alternatives and the bonus terms were buried in pages of small print. My fault for not reading but their design is predatory.
Pros: Intuitive for beginners|Easy to use platform
Cons: No phone support on weekends|Limited ETF selection
The hidden fees at Kaufman Franz Wealth Management are the real scandal here. What they advertise and what they actually charge are two different things. By the time I realized how much I was paying in various fees and spreads, I had already lost a meaningful amount.
Pros: Low minimum deposit|Automated trading options
Cons: Inactivity fee applies after 12 months
I joined Kaufman Franz Wealth Management from a review site like this one and from the start, things felt off. The signup process collected far more personal information than necessary, the verification took unreasonably long, and when I finally got access, the platform was nothing like what was advertised.
Pros: Risk management tools|Social trading features|Great customer service
Cons: Inactivity fee applies after 12 months|Limited ETF selection
I had high hopes for Kaufman Franz Wealth Management through word of mouth in my investment club, but my experience has been disappointing. Customer support is slow, the platform has frequent issues, and their fee structure is not as transparent as advertised. I am actively looking for alternatives now.
Pros: Personal attention|Multi-currency support
Cons: Nothing significant|Research section could be deeper
After for about five months with Kaufman Franz Wealth Management I requested to close my account and withdraw. They said I had to complete a 30-day cooling-off period. Then they said there was a minimum holding period for my last deposit. They make it as hard as possible to leave.
Pros: Copy trading available|Fast execution|Segregated accounts
Cons: Help articles are sometimes vague|Slow to add new assets
The onboarding at Kaufman Franz Wealth Management was smooth which makes the subsequent experience even more frustrating. Once they have your money, the quality of service drops dramatically. Getting anyone to help you with an actual problem is nearly impossible.
Pros: High security standards|Excellent charting|Multi-device support|Responsive team
Cons: Cannot customize dashboard fully|Limited ETF selection
My card was charged twice by Kaufman Franz Wealth Management on the same day. I had to dispute it with my bank. Kaufman Franz Wealth Management then froze my account and said I had a negative balance because of the chargeback. They created the problem and then punished me for it.
Pros: Good mobile app|Stable platform|Personal attention
Cons: Mobile app could be improved|Spreads widen during volatile periods
Opened my account with Kaufman Franz Wealth Management from a blog post comparing services and regretted it within the first month. The platform crashed during a critical moment, I lost potential gains, and support basically told me it was not their problem. Absolutely unacceptable behavior.
Pros: High security standards|Helpful community forum|Personal attention
Cons: Some tools only available on higher tiers