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 Rebalance IRA and Wealthsimple. 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 Rebalance IRA and Wealthsimple stack up against each
other on these features.
To start, we will compare the fees for trading with both robo
advisors. Rebalance IRA has
annual fees at 0.50% fee per year. In
contrast, Wealthsimple has annual fees of 0%.
When it comes to fees, Wealthsimple wins by not charging anything to use their service.
Let's consider the minimum investment that's required to use both Rebalance IRA and Wealthsimple.
At $0, Wealthsimple requires a smaller minimum deposit.
Both Rebalance IRA and Wealthsimple can help assist with your 401(k) plan.
|Review||Rebalance IRA Review||Wealthsimple Review|
Overall rating as by Investor Junkie.Rating
|Commissions & Fees|
|Ease of Use|
|Tools & Resources|
|Promotions||None||Up to $100 Bonus|
|Account Fees||$250 Setup Fee; 0.50%/year||$0 to $100k – 0.50%/year; $100k+ – 0.40%/year|
|Accounts Available||Taxable, Joint, Roth IRA, Traditional IRA, Rollover IRA, Custodial, SEP IRA, SIMPLE IRA, 401(k), Solo 401(k), Trusts, Partnerships, Non-Profit||Taxable, Joint, Roth IRA, Traditional IRA, Rollover IRA, SEP IRA, Trusts|
|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||Daily, Weekly, Biweekly, Monthly, Bimonthly and Quarterly||Weekly, Biweekly and Monthly|
|Clearing Agency||N/A||Apex Clearing|
|Socially Responsible Investing|
|Invests in Commodities|
|Invests in Real Estate|
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 8:30A-8:30P ET; Email||Phone: M-F 9A-5:30P ET; Email|
|Assets Under Management||$525M||$2B|
|Number of Accounts||1K||65K|
|Sign Up||Sign Up|
About Rebalance IRA
Rebalance IRA provides insight into your portfolio and helps you make better decisions by not letting emotions get in the way and selling too often. It also helps you determine the right asset allocation. However, Rebalance IRA is good only for investors who have portfolios of $100,000 or more.
Wealthsimple is a solid addition to the current slate of robo advisors available. The service offers a socially responsible investment option, as well as assistance from a live representative. However, compared to other firms their fees are on the high side.