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 Vanguard Personal Advisor Services and WiseBanyan.
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 Vanguard Personal Advisor Services and WiseBanyan 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, WiseBanyan has annual fees of 0%.
When it comes to fees, WiseBanyan 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 WiseBanyan.
At $1, WiseBanyan 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, Vanguard Personal Advisor Services rates 8 out of 10, while WiseBanyan ranks 8.5 out of 10. For more information on either, you can read our full reviews on Vanguard Personal Advisor Services and WiseBanyan.
|Review||Vanguard Personal Advisor Services Review||WiseBanyan Review|
Overall rating as by Investor Junkie.Rating
|Commissions & Fees|
|Ease of Use|
|Tools & Resources|
|Account Fees||0.30%/year||None — Basic services are free|
|Accounts Available||Taxable, Joint, Roth IRA, Traditional IRA, Rollover IRA, SEP IRA, SIMPLE IRA, Trusts||Taxable, Roth IRA, Traditional IRA, Rollover IRA, SEP 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||Weekly, Biweekly, Monthly and Bimonthly||Weekly, Monthly and Quarterly|
|Clearing Agency||N/A||Apex Clearing|
|Socially Responsible Investing||No||No|
|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 8A-4P PT; Email|
|Assets Under Management||$101B||$94M|
|Number of Accounts||N/A||25K|
|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.
WiseBanyan is a free robo advisor service with no hidden charges. The base service includes automatic portfolio rebalancing and low minimum deposit. From our testing, they are the cheapest service in their category. On the downside, we question if their business model is sustainable.