At Investor Junkie, we reviewed over 100 investing and personal finance services. Our goal is to bring you the most honest, simple, and informative reviews. Turns out, users also want to compare specific services.
This review compares Hedgeable and Wealthfront. 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 Hedgeable and Wealthfront stack up against each other on these threads.
To start, we will compare the fees for trading with both robo advisors. Hedgeable has a fees starting at 0.30% fee per year. To contrast, Wealthfront has annual fees of 0%.
When it comes to fees, M1 Finance wins by not charging anything to use their service.
Let's consider the minimum investment that's required to use both Hedgeable and Wealthfront.
At $1, Hedgeable 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.
Hedgeable lets everyday investors take advantage of the "insider" techniques of the biggest hedge funds. It offers one of the industry's most diverse portfolio, and there's no required account minimum. However, on the downside, Hedgeable's fees are a bit on the steep side.
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.
|Review||Hedgeable Review||Wealthfront Review|
Overall rating as by Investor Junkie.Rating
|Commissions & Fees|
|Ease of Use|
|Tools & Resources|
|Promotions||None||$15k Managed for Free|
|Account Fees||0.30% – 0.75%/year — Depends upon amount deposited||First $10k managed free; 0.25%/year for $10k+|
|Accounts Available||Taxable, Joint, Roth IRA, Traditional IRA, Rollover IRA, Custodial, SIMPLE IRA, Solo 401(k), Trusts||Taxable, Joint, Roth IRA, Traditional IRA, Rollover IRA, SEP IRA, Trusts, Non-Profit, 529|
Does the robo-advisor offer assistance with your employer sponsored retirement plan?401(k) Guidance
|Tax Loss Harvesting||Yes — All Taxable Accounts||Yes — All Taxable Accounts|
|Retirement Planning Tools||No||Yes|
|Automatic Deposits||Weekly, Biweekly, Monthly and Yearly||Weekly, Biweekly, Monthly and Quarterly|
|Clearing Agency||Apex Clearing||RBC|
|Socially Responsible Investing||Yes||Yes|
|Invests in Commodities||Yes||Yes|
|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, Android App|
More security to prevent unauthorized access to your account.Two-Factor Authentication
|Customer Service||Phone: M-F 9A-6P ET; Live Chat: M-F 9A-6P ET||Phone: M-F 7A-5P PT; Email|
|Assets Under Management||$70M||$10B|
|Number of Accounts||2K||226K|
|Sign Up||Sign Up|