We've reviewed many investing and personal finance services. We want to help you make the best decision of which service best suits your needs.
This comparison we review Swell Investing and Merrill Edge Guided Investing (MEGI).
From our research, annual fees, minimum deposit, and 401(k) support the most important
features which choosing a robo advisor. Let's look at how Swell Investing and Merrill Edge Guided Investing (MEGI) stack up against each other on these features.
To start, we will compare the fees for trading with both robo
advisors. Swell Investing has
annual fees at 0.75% fee per year. In
contrast, Merrill Edge Guided Investing (MEGI) has annual fees of 0.45%.
When it comes to fees, Merrill Edge Guided Investing (MEGI) is the cheaper service.
Let's consider the minimum investment that's required to use both Swell Investing and Merrill Edge Guided Investing (MEGI).
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.
Overall, Swell Investing rates 7 out of 10, while Merrill Edge Guided Investing (MEGI) ranks 8 out of 10. For more information on either, you can read our full reviews on Swell Investing and Merrill Edge Guided Investing (MEGI).
|Review||Swell Investing Review||Merrill Edge Guided Investing (MEGI) Review|
Overall rating as by Investor Junkie.Rating
|Commissions & Fees|
|Ease of Use|
|Tools & Resources|
|Promotions||Invest for Free for 1 Year With Promo Code "MAY5K"||None|
|Accounts Available||Taxable, Roth IRA, Traditional IRA, SEP IRA||Taxable, Joint, Roth IRA, Traditional IRA, Rollover IRA, Custodial, SEP IRA, SIMPLE IRA, 401(k), Solo 401(k), 529|
Does the robo-advisor offer assistance with your employer sponsored retirement plan?401(k) Guidance
|Tax Loss Harvesting|
|Retirement Planning Tools|
|Automatic Deposits||Weekly, Monthly||Daily, Weekly, Biweekly and Monthly|
|Clearing Agency||Folio Institutional||Merrill Lynch|
|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, Android App|
More security to prevent unauthorized access to your account.Two-Factor Authentication
|Customer Service||Phone: M-F 9-5 PT; Email||Phone: 24/7; Live Chat: 24/7; Email|
|Assets Under Management||$7M||$0|
|Number of Accounts||18||N/A|
|Sign Up||Sign Up|
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.
About Merrill Edge Guided Investing (MEGI)
MEGI is a robo advisor that combines automated investing with active management of your portfolio. It invests your money in index-based ETFs, but it actively manages your portfolio allocation. This gives you an opportunity to both outperform the market and minimize losses in a downturn. The major negative is that the management fee is higher than those of most other robo advisors. But the active management component may very well justify the higher fee.