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 Wealthsimple and E*TRADE Adaptive Portfolio.
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 Wealthsimple and E*TRADE Adaptive Portfolio stack up against each other on these features.
To start, we will compare the fees for trading with both robo
advisors. Wealthsimple has
annual fees at 0% fee per year. In
contrast, E*TRADE Adaptive Portfolio has annual fees of 0.30%.
Wealthsimple wins because their service is free to use.
Let's consider the minimum investment that's required to use both Wealthsimple and E*TRADE Adaptive Portfolio.
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 E*TRADE Adaptive Portfolio does not. If you are someone who wants help on your employee-sponsored retirement account, Wealthsimple will be your option.
Overall, Wealthsimple rates 8 out of 10, while E*TRADE Adaptive Portfolio ranks 7.5 out of 10. For more information on either, you can read our full reviews on Wealthsimple and E*TRADE Adaptive Portfolio.
|Review||Wealthsimple Review||E*TRADE Adaptive Portfolio Review|
Overall rating as by Investor Junkie.Rating
|Commissions & Fees|
|Ease of Use|
|Tools & Resources|
|Promotions||Up to $100 Bonus||None|
|Account Fees||Under $5k – FREE; $5k-$100k – 0.50%/year; $100k+ – 0.40%/year||0.30%/year|
|Accounts Available||Taxable, Joint, Roth IRA, Traditional IRA, Rollover IRA, SEP IRA, Trusts||Taxable, Joint, Roth IRA, Traditional IRA, Rollover IRA, Custodial|
|Advice||Human Assisted||Human Assisted|
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 and Monthly||Daily, Weekly, Biweekly and Monthly|
|Clearing Agency||Apex Clearing||N/A|
|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, Apple Watch, 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-5:30P ET; Email||Phone: M-F 12A-11:59P ET; Live Chat: 24/7|
|Assets Under Management||$2B||$4B|
|Number of Accounts||65K||229K|
|Sign Up||Sign Up|
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.
About E*TRADE Adaptive Portfolio
E*TRADE Adaptive Portfolio offers a robo advisor service at a reasonable cost. If you are an existing E*TRADE customer and are considering an automated investment service, you may want to use Adaptive Portfolio. Unfortunately, you need at least $5,000, and it doesn't offer tax-loss harvesting.