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 WiseBanyan and Fidelity Go. 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 WiseBanyan and Fidelity Go stack up against each
other on these features.
To start, we will compare the fees for trading with both robo
advisors. WiseBanyan has
annual fees at 0% fee per year. In
contrast, Fidelity Go has annual fees of 0.35%.
WiseBanyan wins because their service is free to use.
Let's consider the minimum investment that's required to use both WiseBanyan and Fidelity Go.
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.
|Review||WiseBanyan Review||Fidelity Go Review|
Overall rating as by Investor Junkie.Rating
|Commissions & Fees|
|Ease of Use|
|Tools & Resources|
|Account Fees||None — Basic services are free||Retirement – 0.35%/year; Taxable – 0.35-0.40%/year|
|Accounts Available||Taxable, Roth IRA, Traditional IRA, Rollover IRA, SEP IRA||Taxable, Joint, Roth IRA, Traditional IRA, Rollover 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, Monthly and Quarterly||Monthly|
|Clearing Agency||Apex Clearing||National Financial Services, LLC|
|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 8A-4P PT; Email||Phone: M-F 8A-8P ET; Live Chat: M-F 8A-8P ET|
|Assets Under Management||$153M||$186M|
|Number of Accounts||35K||N/A|
|Sign Up||Sign Up|
WiseBanyan is a 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, you must pay a premium if you want to open an IRA.
About Fidelity Go
Fidelity Go is Fidelity's entry into the robo advisor space. Its pricing is very transparent, and if you have an existing account, it might be a service for your one-stop shopping. However, the service lacks some of the features that more established robo advisors already offer.