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Ellevest vs WealthSimple

Ellevest is a women-focused robo-advisor tailored to women's life cycles and goals. How does it compare to WealthSimple? Read our comparison chart below.

Ellevest is a robo-advisor aimed to serve women's needs. It specially tailors portfolios for women's financial goals and life cycles. Fees are low starting at $1/mo and there is no minimum balance for the basic account.

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

 EllevestWealthSimple
 Learn MoreLearn More
 

Ellevest

WealthSimple

SPECIAL OFFER
Become a Member - Learn More

Read Ellevest Review

 

Benefits and Features

Annual Fee
  • $1/mo for Essential Plan
  • $5/mo for Plus Plan
  • $9/mo for Executive Plan
0.5% for accounts up to $100k; 0.4% for accounts over $100k
Minimum Deposit
$0 for all membership tiers
$0
Phone Support
Yes - normal business hours
Yes - M-Th 9a-8p ET; Fri 9a-5:30p ET
Live Chat Support
No
No
Email Support
Yes
Yes
Human AdvisorsDiscounts for members for coaching sessions
Yes
Robo Advisor
Check
Check
Assets Under Management
$280 Million
$2 Billion
Tax Loss Harvesting
No
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
BankingSpend and Save accounts*; No minimum balance and no monthly service fees 
Mobile App
Yes
 
Fractional Shares
Yes
Yes
Taxable Accounts
Yes
Yes
401k Plans
No
No
IRA Accounts
Yes
Yes
Roth IRA Accounts
Yes
Yes
SEP IRA Accounts
Yes
Yes
Trust Accounts
No
Yes
529 Plans
No
No
 

CreditDonkey® Reviews

 EllevestWealthSimple
Annual FeeStarStarStarStarEmpty StarStarStarStarEmpty StarEmpty Star
Minimum DepositStarStarStarStarStarStarStarStarStarStar
Human AdvisorsStarStarStarStarEmpty StarStarStarStarStarEmpty Star
Customer ServiceStarStarStarHalf StarEmpty StarStarStarStarStarEmpty Star
Social ResponsibilityStarStarStarStarStar
Pros & ConsPros:
  • Focused on women's needs
  • $0 minimum
  • Starts at $1/mo
Cons:
  • Limited account options
  • No tax loss harvesting
  • Uncertain future
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 LineWomen-focused robo-advisor tailored to women's life cycles and goals... Read full reviewGood robo-advisor with socially responsible and Halal investment options, though fees are high... Read full review

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

Ellevest: Pricing information from published website as of 08/10/2020

Which is Better: Ellevest or WealthSimple?

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

In short: Ellevest's annual fee is notable.


Articles on Ellevest

Ellevest

Ellevest tailors investment strategies specifically for women's needs. Find out how this robo-advisor make a difference.

Articles on WealthSimple

Wealthsimple Review

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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