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 Vanguard Personal Advisor Services 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 Vanguard Personal Advisor Services and Wealthsimple stack up against each other on these features.
To start, we will compare the fees for trading with both robo advisors. Vanguard Personal Advisor Services has annual fees at 0.30% 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 Vanguard Personal Advisor Services and Wealthsimple.
At $0, Wealthsimple requires a smaller minimum deposit.
When it comes to supporting 401(k) plans, there is a clear line of division. Wealthsimple does offer support for 401(k) plans, while Vanguard Personal Advisor Services does not. If you are someone who wants input on your employee-sponsored retirement account, Wealthsimple will be your option.
Overall, Vanguard Personal Advisor Services rates 8 out of 10, while Wealthsimple ranks 8 out of 10. For more information on either, you can read our full reviews on Vanguard Personal Advisor Services and Wealthsimple.
|Review||Vanguard Personal Advisor Services 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||0.30%/year||Under $5k – FREE; $5k-$100k – 0.50%/year; $100k+ – 0.40%/year|
|Accounts Available||Taxable, Joint, Roth IRA, Traditional IRA, Rollover IRA, SEP IRA, SIMPLE IRA, Trusts||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||No||Yes — All Taxable Accounts|
|Retirement Planning Tools||No||No|
|Automatic Deposits||Weekly, Biweekly, Monthly and Bimonthly||Weekly, Biweekly and Monthly|
|Clearing Agency||N/A||Apex Clearing|
|Socially Responsible Investing||No||Yes|
|Invests in Commodities||No||No|
|Invests in Real Estate||Yes||Yes|
How can you access the sevice? Website only? Via smartphone app?Access
|Website, iOS App, Android App||Website, iOS App, Apple Watch, Android App|
More security to prevent unauthorized access to your account.Two-Factor Authentication
|Customer Service||Phone M-F 8A-8P ET; Email M-F||Phone: M-F 9A-5:30P ET; Email|
|Assets Under Management||$101B||$1B|
|Number of Accounts||N/A||50K|
|Sign Up||Sign Up|
About Vanguard Personal Advisor Services
A solid entry into the robo advisor space, Vanguard Personal Advisor Services is backed by the trusted Vanguard brand and features real, live human advisors you can call. Unfortunately, the service requires a hefty $50k deposit, which excludes many beginning investors.
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.