At Investor Junkie, we reviewed over 100 investing and personal finance services. Our goal is to bring you the most honest, simple, and informative reviews. Turns out, users also want to compare specific services.
This review compares MarketRiders and SigFig. 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 MarketRiders and SigFig stack up against each other on these threads.
To start, we will compare the fees for trading with both robo advisors. MarketRiders has a fees starting at 0.25% fee per year. To contrast, SigFig has annual fees of 0.00%.
When it comes to fees, M1 Finance wins by not charging anything to use their service.
Let's consider the minimum investment that's required to use both MarketRiders and SigFig.
At $1,000, MarketRiders requires a smaller 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.
MarketRiders' aim is to help Americans manage their retirement portfolios more effectively by providing DIY investment advice. But with the addition of the Managed Service, MarketRiders has the capability to be a full-on robo advisor for those who want assisted portfolio management.
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.
|Review||MarketRiders Review||SigFig Review|
Overall rating as by Investor Junkie.Rating
|Commissions & Fees|
|Ease of Use|
|Tools & Resources|
|Account Fees||$14.95/month; $149.95/year for the DIY Service||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, Trusts||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||No||Yes — All Taxable Accounts|
|Retirement Planning Tools||No||No|
|Automatic Deposits||N/A||Daily, Weekly, Monthly, Bimonthly and Quarterly|
|Socially Responsible Investing||No||No|
|Invests in Commodities||Yes||No|
|Invests in Real Estate||Yes||No|
How can you access the sevice? Website only? Via smartphone app?Access
|Website||Website, iOS App, Apple Watch, Android App|
More security to prevent unauthorized access to your account.Two-Factor Authentication
|Customer Service||Phone: M-F 9A-5P CST; Live Chat: M-F 9A-5P CST; Email||Phone: M–F 6A–6P PT; Live Chat: M–F 6A–6P PT; Email|
|Assets Under Management||$0||$120M|
|Number of Accounts||N/A||3K|
|Sign Up||Sign Up|