At Investor Junkie, we reviewed over one hundred investing and personal finance services. Our goal is to bring you the most honest, simple, and informative reviews. It turns out; users also want to compare specific services.
This review compares WiseBanyan and Hedgeable. The better service depends on your needs. So let's dive in!
According to our readers (you!), when it comes to robo advisors, people care most about the fees, minimum investment requirements, and whether or not the service supports for 401(k) plans. Let's look at how WiseBanyan and Hedgeable stack up against each other on these features.
To start, we will compare the fees for trading with both robo advisors. WiseBanyan has annual fees at 0% fee per year. In contrast, Hedgeable has annual fees of 0.30%.
WiseBanyan wins because their service is free to use.
Let's consider the minimum investment that's required to use both WiseBanyan and Hedgeable.
At $1, both services have the same minimum deposit.
Both WiseBanyan and Hedgeable have the same $1 minimum deposit.
Unfortunately, neither service offers assistance with your 401(k) and you will have to find another service if this is a requirement for you.
|Review||WiseBanyan Review||Hedgeable Review|
Overall rating as by Investor Junkie.Rating
|Commissions & Fees|
|Ease of Use|
|Tools & Resources|
|Account Fees||None — Basic services are free||0.30% – 0.75%/year — Depends upon amount deposited|
|Accounts Available||Taxable, Roth IRA, Traditional IRA, Rollover IRA, SEP 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||Yes — All Taxable Accounts||Yes — All Taxable Accounts|
|Retirement Planning Tools||No||No|
|Automatic Deposits||Weekly, Monthly and Quarterly||Weekly, Biweekly, Monthly and Yearly|
|Clearing Agency||Apex Clearing||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, iOS App, Apple Watch, Android App||Website, iOS App, Android App|
More security to prevent unauthorized access to your account.Two-Factor Authentication
|Customer Service||Phone: M-F 8A-4P PT; Email||Phone: M-F 9A-6P ET; Live Chat: M-F 9A-6P ET|
|Assets Under Management||$94M||$70M|
|Number of Accounts||25K||2K|
|Sign Up||Sign Up|
WiseBanyan is a free robo advisor service with no hidden charges. The base service includes automatic portfolio rebalancing and low minimum deposit. From our testing, they are the cheapest service in their category. On the downside, we question if their business model is sustainable.
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.