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Betterment vs WealthSimple

Betterment is a great robo-advisor for beginners with low fees, good tools, and tax strategies. How does it compare to WealthSimple? Read our comparison chart below.

Betterment offers automatic investing starting at $4/month for accounts with less than $20,000. There is no fee to open an account and no minimum deposit required. All balances get automatic rebalancing, tax loss harvesting, and access to financial experts.

While WealthSimple offers auto-investing with support from real advisors, including a free portfolio review of all your finances. However, fees are higher at 0.5% for accounts $100k and less (and 0.4% for accounts over $100k). It also stands out by offering socially responsible and Halal investment options. There is no minimum to open an account.

Compare Betterment with WealthSimple, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.

 WealthSimple
 Learn MoreLearn More
 

Betterment

WealthSimple

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Wealthsimple Cash Account - Learn More

Read WealthSimple Review

 

Benefits and Features

Savings
Check
 
Annual Fee
  • Digital: 0.25% annual fee for accounts with $20,000 or more or with monthly recurring deposits of $250 or more, $4/month for accounts with less than $20,000
  • Premium: 0.40% for accounts $100,000 or more
0.5% for accounts up to $100k; 0.4% for accounts over $100k
Minimum Deposit
$0
$0
Checking
No-Fee Checking
 
Phone Support
Yes
Yes - M-Th 9a-8p ET; Fri 9a-5:30p ET
Live Chat Support
No
No
Email Support
Yes
Yes
Human Advisors
Yes ($100k minimum)
Yes
Robo Advisor
Check
Check
Assets Under Management
$40+ Billion
$2 Billion
Tax Loss Harvesting
Yes
Available for accounts over $100,000
Goal Tracker
Yes
No
Automatic Deposits
Yes
Yes
Online Platform
Yes
Yes
iPhone App
Yes
Yes
Android App
Yes
Yes
Mobile App
Yes
 
Single Stock Diversification
No
 
Fractional Shares
Yes
Yes
Taxable Accounts
Yes
Yes
401k Plans
Yes
No
IRA Accounts
Yes
Yes
Roth IRA Accounts
Yes
Yes
SEP IRA Accounts
Yes
Yes
Trust Accounts
Yes
Yes
529 Plans
No
No
 

CreditDonkey® Reviews

 WealthSimple
Annual FeeStarStarStarStarHalf StarStarStarStarEmpty StarEmpty Star
Minimum DepositStarStarStarStarStarStarStarStarStarStar
Human AdvisorsStarStarStarEmpty StarEmpty StarStarStarStarStarEmpty Star
Customer ServiceStarStarStarStarEmpty StarStarStarStarStarEmpty Star
Social ResponsibilityStarStarStarStarStar
Pros & ConsPros:
  • No minimum investment
  • Customized portfolios
  • Automatically invest extra funds
Cons:
  • Limited investment options
  • High fees for large investors
Pros:
  • Human advisors
  • No minimum investment
  • Socially responsible and Halal investment options
Cons:
  • Higher fees than competitors
  • No personal finance tools
  • Tax loss harvesting only to high balance accounts
Bottom LineGreat robo-advisor for beginners with low fees, good tools, and tax strategies... Read full reviewGood robo-advisor with socially responsible and Halal investment options, though fees are high... Read full review

Wealthsimple Cash Account

Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details.

Betterment: Pricing information from published website as of 04/04/2018

Which is Better: Betterment or WealthSimple?

Still need help deciding which investing is better? Read the in-depth reviews below. You may also be interested in comparing Betterment or Robinhood.

In short: Betterment's annual fee is noteworthy. WealthSimple's human advisors is noteworthy.


Articles on Betterment

Betterment Reviews

Betterment offers low fees and good returns. But there are risks you should NOT ignore. Read this review to see if Betterment is better.

Betterment Fees

Betterment offers no minimum deposit and good returns. But are the fees worth it? Read on to learn about this robo-advisor's costs.

Is Betterment Safe

Betterment offers low fees, no minimum balance and good returns. But is it a good idea? Find out if it's safe to invest your money with this robo-advisor.

Is Betterment Worth The Fee

Betterment will manage your investments, but they charge a fee. Is Betterment worth the fee? Read on to answer all your questions.

Betterment Roth IRA

Is Betterment a good way to invest for retirement? What about the fees and withdrawals? Read on to learn how Betterment's Roth IRA account works.

Betterment vs Wealthfront

Betterment and Wealthfront are two of the oldest and most popular robo-advisors. Is there a difference? Which is better for you? Read on to find out.

Articles on WealthSimple

Wealth Simple

Wealthsimple is a robo advisor with features you should not ignore. But are the higher fees worth it? Read this review to find out what this automatic investing service can do and the pros and cons.

Which Do You Think is Best?





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