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 Wealthfront and Ellevest.
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 Wealthfront and Ellevest stack up against each other on these features.
To start, we will compare the fees for trading with both robo
advisors. Wealthfront has
annual fees at 0.25% fee per year. In
contrast, Ellevest has annual fees of 0.25%.
When it comes to fees, both Wealthfront and Ellevest are equal in annual fees.
Let's consider the minimum investment that's required to use both Wealthfront and Ellevest.
At $0, Ellevest requires a smaller minimum deposit.
When it comes to supporting 401(k) plans, there is a clear line of division. Ellevest does offer support for 401(k) plans, while Wealthfront does not. If you are someone who wants input on your employee-sponsored retirement account, Ellevest will be your option.
|Review||Wealthfront Review||Ellevest Review|
Overall rating as by Investor Junkie.Rating
|Commissions & Fees|
|Ease of Use|
|Tools & Resources|
|Promotions||$5k Managed for Free||Get up to $750 Cash Back|
|Account Fees||First $10k managed free; 0.25%/year for $10k+||0.25%/year; Premium - 0.50%/year|
|Accounts Available||Taxable, Joint, Roth IRA, Traditional IRA, Rollover IRA, SEP IRA, Trusts, Non-Profit, 529||Taxable, Roth IRA, Traditional 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||Weekly, Biweekly, Monthly and Quarterly||Monthly, Bimonthly and Quarterly|
|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, Android App||Website|
More security to prevent unauthorized access to your account.Two-Factor Authentication
|Customer Service||Phone: M-F 7A-5P PT; Email||Phone; Email|
|Assets Under Management||$10B||$25M|
|Number of Accounts||244K||5K|
|Sign Up||Sign Up|
Wealthfront is a robo advisor that emphasizes low fees and automated investing. The service shines when you have a taxable account, and the service is free for accounts under $10k. The negative is it doesn't support fractional shares.
Ellevest is a robo advisor investing platform that targets women specifically. It can offer custom plans that are tailored to the needs of women. A good argument can be made for the necessity for taking women's particular situations into accounts. After all, they tend to live longer yet earn less. However, is a completely separate robo advisor really needed? We'll let you be the judge after reading our review.