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Home > Robo Advisors > Compare > Wealthsimple vs. FutureAdvisor
Back to Compare

Wealthsimple vs. FutureAdvisor

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 Wealthsimple and FutureAdvisor. 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 Wealthsimple and FutureAdvisor 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, FutureAdvisor has annual fees of 0.50%. Wealthsimple wins because their service is free to use.

Let's consider the minimum investment that's required to use both Wealthsimple and FutureAdvisor. At $0, Wealthsimple requires a smaller minimum deposit.

Both Wealthsimple and FutureAdvisor can help assist with your 401(k) plan.

Overall, Wealthsimple rates 8 out of 10, while FutureAdvisor ranks 7 out of 10. For more information on either, you can read our full reviews on Wealthsimple and FutureAdvisor.

Robo-Advisor

Wealthsimple

FutureAdvisor

ReviewWealthsimple ReviewFutureAdvisor Review

Overall rating as by Investor Junkie.

Rating
8/10
7/10
Commissions & Fees
7/10
6/10
Customer Service
8/10
8/10
Ease of Use
8.5/10
8.5/10
Tools & Resources
8/10
8/10
Investment Options
8/10
7.5/10
Asset Allocation
8/10
8/10
PromotionsUp to $100 BonusNone
Minimum Investment$0$10,000
Account FeesUnder $5k – FREE; $5k-$100k – 0.50%/year; $100k+ – 0.40%/year0.50%/year
Accounts AvailableTaxable, Joint, Roth IRA, Traditional IRA, Rollover IRA, SEP IRA, TrustsTaxable, Joint, Roth IRA, Traditional IRA, Rollover IRA, SEP IRA, 529, Coverdell
AdviceHuman AssistedAutomated

Does the robo-advisor offer assistance with your employer sponsored retirement plan?

401(k) Guidance
YesYes
Tax Loss HarvestingYes — All Taxable AccountsYes — All Taxable Accounts
Portfolio RebalancingYesYes
Retirement Planning ToolsNoYes
Automatic DepositsWeekly, Biweekly and MonthlyDaily, Weekly, Biweekly, Monthly, Bimonthly and Quarterly
Clearing AgencyApex ClearingApex Clearing
Self ClearingNoNo
Smart BetaNoNo
Socially Responsible InvestingYesNo
Invests in CommoditiesNoYes
Invests in Real EstateYesYes
Fractional SharesYesNo

How can you access the sevice? Website only? Via smartphone app?

Access
Website, iOS App, Apple Watch, Android AppWebsite, iOS App, Android App

More security to prevent unauthorized access to your account.

Two-Factor Authentication
YesYes
Customer ServicePhone: M-F 9A-5:30P ET; EmailPhone: M-F 8:30A-5P PT; Email
Assets Under Management$2B$1B
Number of Accounts65K7K

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About Wealthsimple

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 FutureAdvisor

FutureAdvisor lets you test-drive its service for free and is one of the few robo advisors that can manage your 529 college savings plan. However, the bad news is the service's fees are higher than those of most of its competition.

Other Comparisons

  • Betterment vs. Wealthfront
  • Betterment vs. Vanguard
  • Wealthfront vs. Vanguard
  • Wealthfront vs. Wealthsimple
  • Betterment vs. Fidelity Go
  • Betterment vs. Schwab
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Larry Ludwig
Author: Larry Ludwig
Updated: April 20, 2018
Category: Robo Advisors

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