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 Ellevest and Hedgeable.
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 Ellevest and Hedgeable stack up against each other on these features.
To start, we will compare the fees for trading with both robo advisors. Ellevest has annual fees at 0.25% fee per year. In contrast, Hedgeable has annual fees of 0.30%.
When it comes to fees, Ellevest is the cheaper service.
Let's consider the minimum investment that's required to use both Ellevest and Hedgeable.
At $0, Ellevest requires a smaller minimum deposit.
When it comes to supporting 401(k) plans, there is a clear line of division. Ellevest does offer support for 401(k) plans, while Hedgeable does not. If you are someone who wants help on your employee-sponsored retirement account, Ellevest will be your option.
|Review||Ellevest Review||Hedgeable Review|
Overall rating as by Investor Junkie.Rating
|Commissions & Fees|
|Ease of Use|
|Tools & Resources|
|Promotions||Get up to $750 Cash Back||None|
|Account Fees||0.25%/year; Premium - 0.50%/year||0.30% – 0.75%/year — Depends upon amount deposited|
|Accounts Available||Taxable, Roth IRA, Traditional IRA||Taxable, Joint, Roth IRA, Traditional IRA, Rollover IRA, Custodial, SIMPLE IRA, Solo 401(k), Trusts|
Does the robo-advisor offer assistance with your employer sponsored retirement plan?401(k) Guidance
|Tax Loss Harvesting||No||Yes — All Taxable Accounts|
|Retirement Planning Tools||No||No|
|Automatic Deposits||Monthly, Bimonthly and Quarterly||Weekly, Biweekly, Monthly and Yearly|
|Clearing Agency||Folio||Apex Clearing|
|Socially Responsible Investing||No||Yes|
|Invests in Commodities||No||Yes|
|Invests in Real Estate||Yes||Yes|
How can you access the sevice? Website only? Via smartphone app?Access
|Website||Website, iOS App, Android App|
More security to prevent unauthorized access to your account.Two-Factor Authentication
|Customer Service||Phone; Email||Phone: M-F 9A-6P ET; Live Chat: M-F 9A-6P ET|
|Assets Under Management||$25M||$70M|
|Number of Accounts||5K||2K|
|Sign Up||Sign Up|
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.
Hedgeable lets everyday investors take advantage of the "insider" techniques of the biggest hedge funds. It offers one of the industry's most diverse portfolio, and there's no required account minimum. However, on the downside, Hedgeable's fees are a bit on the steep side.