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 Swell Investing. 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 Swell Investing 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, Swell Investing has annual fees of 0.75%.
SigFig wins because their service is free to use.
Let's consider the minimum investment that's required to use both SigFig and Swell Investing.
At $50, Swell Investing 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.
|Review||SigFig Review||Swell Investing Review|
Overall rating as by Investor Junkie.Rating
|Commissions & Fees|
|Ease of Use|
|Tools & Resources|
|Promotions||None||Invest for Free for 1 Year With Promo Code "MAY5K"|
|Account Fees||First $10k managed free; 0.25%/year for $10k+; 0.50% for Diversified Income Portfolio||0.75%/year|
|Accounts Available||Taxable, Joint, Roth IRA, Traditional IRA, Rollover IRA, SEP IRA, SIMPLE IRA||Taxable, Roth IRA, Traditional IRA, SEP IRA|
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, Monthly, Bimonthly and Quarterly||Weekly, Monthly|
|Clearing Agency||N/A||Folio Institutional|
|Socially Responsible Investing|
|Invests in Commodities|
|Invests in Real Estate|
How can you access the sevice? Website only? Via smartphone app?Access
|Website, iOS App, Apple Watch, Android App||Website|
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 9-5 PT; Email|
|Assets Under Management||$120M||$7M|
|Number of Accounts||3K||18|
|Sign Up||Sign Up|
SigFig is a robo advisor service that offers asset management and free 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.
About Swell Investing
Swell Investing was created to help users invest in socially responsible stocks. These include investments in alternative energy, clean water and healthy living. Swell requires a minimum investment of only $50, which makes it appealing and accessible to new and younger investors. On the downside, Swell's management fee runs a bit steep, and the service lacks some features of other robo advisors such as tax-loss harvesting.