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 Ellevest 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 Ellevest and SigFig stack up against each other on these threads.
To start, we will compare the fees for trading with both robo advisors. Ellevest 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 Ellevest and SigFig.
At $0, Ellevest requires a smaller minimum deposit.
When it comes to support for 401(k) plans, there is a clear line of division. Ellevest does offer support for 401(k) plans, while SigFig does not. If you are someone who wants help on your employee-sponsored retirement account, Ellevest will be your option.
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.
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||Ellevest Review||SigFig 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||First $10k managed free; 0.25%/year for $10k+; 0.50% for Diversified Income Portfolio|
|Accounts Available||Taxable, Roth IRA, Traditional IRA||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||Monthly, Bimonthly and Quarterly||Daily, Weekly, Monthly, Bimonthly and Quarterly|
|Socially Responsible Investing||No||No|
|Invests in Commodities||No||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; Email||Phone: M–F 6A–6P PT; Live Chat: M–F 6A–6P PT; Email|
|Assets Under Management||$25M||$120M|
|Number of Accounts||5K||3K|
|Sign Up||Sign Up|