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 SigFig.
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 SigFig 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 0.25% fee per year. In
contrast, SigFig has annual fees of 0.00%.
When it comes to fees, SigFig wins by not charging anything to use their service.
Let's consider the minimum investment that's required to use both Betterment and SigFig.
At $0, Betterment requires a smaller minimum deposit.
When it comes to supporting 401(k) plans, there is a clear line of division. Betterment does offer support for 401(k) plans, while SigFig does not. If you are someone who wants help on your employee-sponsored retirement account, Betterment will be your option.
|Review||Betterment Review||SigFig Review|
Overall rating as by Investor Junkie.Rating
|Commissions & Fees|
|Ease of Use|
|Tools & Resources|
|Promotions||Up To 1 Year Free||None|
|Account Fees||Digital – 0.25%/year; Premium – 0.40%/year||First $10k managed free; 0.25%/year for $10k+; 0.50% for Diversified Income Portfolio|
|Accounts Available||Taxable, Joint, Roth IRA, Traditional IRA, Rollover IRA, SEP IRA, Trusts, Non-Profit||Taxable, Joint, Roth IRA, Traditional IRA, Rollover IRA, SEP IRA, SIMPLE IRA|
Does the robo-advisor offer assistance with your employer sponsored retirement plan?401(k) Guidance
|Tax Loss Harvesting||— All Taxable Accounts||— All Taxable Accounts|
|Retirement Planning Tools|
|Automatic Deposits||Weekly, Biweekly and Monthly||Daily, Weekly, Monthly, Bimonthly and Quarterly|
|Clearing Agency||Apex Clearing||N/A|
|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, iOS App, Apple Watch, Android App|
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: M–F 6A–6P PT; Live Chat: M–F 6A–6P PT; Email|
|Assets Under Management||$13B||$120M|
|Number of Accounts||444K||3K|
|Sign Up||Sign Up|
Betterment is a good starting point for beginner 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, its asset allocation excludes REITs or commodities.
SigFig is a robo advisor service that offers asset management, diversified income, and portfolio tracking. Altogether, SigFig itself isn't a bad service, and its Portfolio Tracker is free. But the recommendations it makes seem simple at best. There are other robo advisors available with more functionality.