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 SigFig and FutureAdvisor. 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 SigFig and FutureAdvisor stack up against each other on these features.
To start, we will compare the fees for trading with both robo advisors. SigFig has annual fees at 0.00% fee per year. In contrast, FutureAdvisor has annual fees of 0.50%.
SigFig wins because their service is free to use.
Let's consider the minimum investment that's required to use both SigFig and FutureAdvisor.
At $2,000, SigFig requires a smaller minimum deposit.
When it comes to supporting 401(k) plans, there is a clear line of division. FutureAdvisor does offer support for 401(k) plans, while SigFig does not. If you are someone who wants input on your employee-sponsored retirement account, FutureAdvisor will be your option.
|Review||SigFig Review||FutureAdvisor Review|
Overall rating as by Investor Junkie.Rating
|Commissions & Fees|
|Ease of Use|
|Tools & Resources|
|Account Fees||First $10k managed free; 0.25%/year for $10k+; 0.50% for Diversified Income Portfolio||0.50%/year|
|Accounts Available||Taxable, Joint, Roth IRA, Traditional IRA, Rollover IRA, SEP IRA, SIMPLE IRA||Taxable, Joint, Roth IRA, Traditional IRA, Rollover IRA, SEP IRA, 529, Coverdell|
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||Yes|
|Automatic Deposits||Daily, Weekly, Monthly, Bimonthly and Quarterly||Daily, Weekly, Biweekly, Monthly, Bimonthly and Quarterly|
|Clearing Agency||N/A||Apex Clearing|
|Socially Responsible Investing||No||No|
|Invests in Commodities||No||Yes|
|Invests in Real Estate||No||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 6A–6P PT; Live Chat: M–F 6A–6P PT; Email||Phone: M-F 8:30A-5P PT; Email|
|Assets Under Management||$120M||$1B|
|Number of Accounts||3K||7K|
|Sign Up||Sign Up|
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.
FutureAdvisor lets you test-drive its service for free and is one of the few robo advisors that can manage your 529 college savings plan. However, the bad news is the service's fees are higher than those of most of its competition.