We've reviewed many investing and personal finance services. We want to help you make the best decision of which service best suits your needs.
This comparison we review Betterment and Ellevest.
From our research, annual fees, minimum deposit, and 401(k) support the most important
features which choosing a robo advisor. Let's look at how Betterment and Ellevest stack up against each other on these features.
To start, we will compare the fees for trading with both robo
advisors. Betterment has
annual fees at 0.15% fee per year. In
contrast, Ellevest has annual fees of 0.25%.
When it comes to fees, Betterment is the cheaper service.
Let's consider the minimum investment that's required to use both Betterment and Ellevest.
At $0, both services have the same minimum deposit.
Both Betterment and Ellevest have the same $0 minimum deposit.
Both Betterment and Ellevest can help assist with your 401(k) plan.
|Review||Betterment Review||Ellevest Review|
Overall rating as by Investor Junkie.Rating
|Commissions & Fees|
|Ease of Use|
|Tools & Resources|
|Promotions||Up To 1 Year Free||Get up to $750 Cash Back|
|Account Fees||Digital – 0.15-0.25%/year; Premium – 0.30-0.40%/year||0.25%/year; Premium - 0.50%/year|
|Accounts Available||Taxable, Joint, Roth IRA, Traditional IRA, Rollover IRA, SEP IRA, Trusts, Non-Profit||Taxable, Roth IRA, Traditional IRA|
|Advice||Human Assisted||Human Assisted|
Does the robo-advisor offer assistance with your employer sponsored retirement plan?401(k) Guidance
|Tax Loss Harvesting||— All Taxable Accounts|
|Retirement Planning Tools|
|Automatic Deposits||Weekly, Biweekly and Monthly||Monthly, Bimonthly and Quarterly|
|Clearing Agency||Apex Clearing||Folio|
|Socially Responsible Investing|
|Invests in Commodities|
|Invests in Real Estate|
How can you access the sevice? Website only? Via smartphone app?Access
|Website, iOS App, Android App||Website|
More security to prevent unauthorized access to your account.Two-Factor Authentication
|Customer Service||Phone: M-Th 9A-8P, F 9A-6P ET; Live Chat: M-Th 9A-8P, F 9A-6P, Sat-Sun 11A-6P ET; Email||Phone; Email|
|Assets Under Management||$13B||$91M|
|Number of Accounts||444K||12K|
|Sign Up||Sign Up|
Betterment is equally a good starting point for beginning investors and a useful platform for more experienced investors. The robo advisor has no minimum deposit and costs 0.25% annually. If you need the assistance, it recently added human advisors who can assist with your retirement account. Unfortunately, Betterment's asset allocation excludes REITs or commodities.
Ellevest is a robo advisor investing platform that targets women specifically. It can offer custom plans that are tailored to the needs of women. A good argument can be made for the necessity for taking women's particular situations into accounts. After all, they tend to live longer yet earn less. However, is a completely separate robo advisor really needed? We'll let you be the judge after reading our review.