In the market for a tool that will help you track a diverse portfolio of valuable assets and accounts?
In that case, you might have already considered SigFig, a popular choice in this realm.
So in addition to a rundown of SigFig’s main features, allow us to also detail some key competitors and alternatives when it comes to financial tracking, wealth advice, and more — because it’s always nice to have options.
Keep reading to learn everything you need to know about SigFig and SigFig competitors before choosing your investment portfolio management platform.
What is SigFig? Investment Planning + Tracking
There are two sides of SigFig. On one, it’s a robust digital tool for financial professionals and institutions. On the other, it’s a consumer-facing platform for investment planning and tracking — and it’s this side we’re going to focus on today.
The free SigFig platform walks users through building out a custom portfolio and investment plan, the performance of which they can visualize via an iOS or Android app.
SigFig tracks joint as well as individual non-retirement accounts. In addition, users can also manage Roth and traditional IRAs — as long as they live in one of SigFig’s three partner brokerages: TD Ameritrade, Charles Schwab, or Fidelity. This makes SigFig best for investors who already use these brokerages, or who are brand new to investing and happy to have SigFig create them a managed account using TD Ameritrade.
It’s important to note that this also means bank accounts, cash, physical assets, and digital assets can’t be monitored inside the SigFig platform, so it’s far from being an all-in-one solution when it comes to portfolio management.
But for the accounts SigFig does track, the platform does its best to cut costs and boost returns by applying tax-reducing strategies, automatically rebalancing investments, reinvesting dividends, and even offering suggestions that help tune up your portfolio.
How does it do that last one? By using a smart algorithm that takes your risk appetite into account — as well as input from a real-life investment professional.
That brings us to one of the most interesting features that Sigfig’s consumer app offers: access to certified investment advisors, even at their free tier.
Traditionally, to work with a trained financial professional, an investor has to have around $150,000 in assets — and pay 1% of the value of their portfolio for the pleasure of working with a real human advisor!
But not only is SigFig’s portfolio tracker free, users can also access account management for free for up to $10,000 in assets. All it requires is a $2,000 minimum balance. For accounts with assets worth more than $10,000, that first 10K is still managed for free, but you’ll pay a .25% annual fee on assets over that amount. At this tier, users will also have access to an investment advisor.
As with most of the financial tools out there with a free price tag, SigFig’s lower-tier offerings are part of an ingenious strategy to initially engage and eventually lock-in users. When you start using your free investment plan inside SigFig’s app, of course you’ll stick with them even when your invested assets exceed $10K and you start seeing that .25% annual fee creep in! That doesn’t make it a bad or untrustworthy tool at all, we just want to make sure our readers always have transparency around what they’re getting into when it comes to their finances.
Bottom Line: SigFig is digital investment management for traditional assets, with a side of personal guidance from real financial advisors.
5 SigFig Competitors
With that refresher on the ups and the downs of SigFig’s consumer-facing investment advice and management features, let’s explore some of the best competitors and alternatives that exist in the same space.
1. Kubera: All-in-One Balance Sheet Software for DIY Investors
The rich wealth tracker features that Kubera’s creators (Hi, that’s us!) have built over the years have culminated in robust personal balance sheet software that tracks just about every type of asset you can imagine.
Stocks? We can help you track those investments. REITs — or real real estate assets? Sure, no problem. Bank accounts, physical collectibles, vehicles, cryptocoins, gold, cash, NFTs, and pretty much anything else you can own? With Kubera, you can monitor and manage it all. (Click here for a peek at the banks, brokerages, crypto exchanges, and other financial accounts we work with.)
This functionality is thanks to our integrations with several top-of-the-line financial aggregators, which keep your account-based investment assets (stocks, etc.) up to date in Kubera’s dashboard. For those assets that don’t have an online account to connect (artwork, etc.), it’s easy to enter their details into Kubera’s modern, spreadsheet-like interface.
And in case any of your stocks or cryptocurrencies don’t connect easily to Kubera, you can always use our tickers for individual stocks and cryptocurrencies.
With that, Kubera provides the most detailed and complete view of any portfolio management tool on the market.
But Kubera doesn’t just stop at helping you view all your assets, it also helps you understand how they’re performing when it comes to generating return, so you’re well informed on when to invest more and when to divest.
All you have to do is make sure the purchase price, current value, and cash flow are up to date for your assets. Our platform will add in holding time and spit out the internal rate of return (IRR is a detailed version of ROI) in your preferred currency.
On top of that, Kubera will even display the performance of popular indices and cryptocurrencies (think S&P 500, Bitcoin, and so on). This is another layer of information that will help you understand on which investments your money is best spent.
Read this help center article if you want to learn even more about Kubera’s automatic IRR calculator.
For our final fave feature, we have to tell you about recap. It constantly crunches your portfolio data to give you a historical look at asset performance over time. Recap is the final touch in the complete picture that Kubera crafts for DIY investors.
Kubera is a privacy-focused, ad-free, subscription-based app that’s accessible worldwide on desktop, iOS, and Android. That means you don’t have to deal with us bugging you with upsells or asking to sell your data for advertising purposes.
You can get started for an affordable price today. Or, if you already work alongside a financial advisor, wealth manager, or similar pro — you may want to introduce them to Kubera. When they use our white-label solution as part of their client portal, you’ll get the benefit of even more informed wealth management and advice.
Bottom Line: Kubera is the most complete, easy to use, and modern all-in-one wealth management platform for individual investors.
2. Betterment: Robo-Advisor Without the Portfolio Management
Betterment was originally an automated planning and investing platform that grew to include banking capabilities for users.
What Betterment is most known for, and where we think it really shines, is its robo-advisor functionality. Betterment’s robo-advisor applies smart algorithms to make informed investment decisions much more quickly and affordably than a financial advisor can.
While it’s not a direct substitute for human wealth management, Betterment is an ideal solution for investors who value technology and prioritize easy investing. Betterment makes it a point to provide diverse asset options that align with different values, rebalance and reinvest, optimize tax savings, guide users through setting and achieving savings goals, and do it all for the low annual fee of .25% of assets under management.
While it really is all about the investment automation when it comes to Betterment, the platform does provide a lower tier — a free one that includes cash management, checking, and access to financial planning tools — as well as a higher tier that includes one-on-one time with certified financial planners for a .40% annual fee and $100K minimum balance.
Bottom Line: Betterment’s robo-advisor is ideal for hands-off investors who value technological implementations in their portfolio.
3. Fidelity: A Huge Suite of Wealth Management Tools for Every Investor
Fidelity is a massive conglomerate of financial products and services that works with employers, financial institutions, professional advisors, and of course individual investors.
So while they offer a ton of tools that will enable you to trade stocks, pay bills, and do plenty more, in this article we’re just going to focus on their planning and advice features for the independent investors who are ready to go all-in on their singular investment platform.
They break these features down into five distinct offerings:
- Fidelity DIY: With this offering, Fidelity provides a suite of calculators and other tools that investors can tap into to build their own investment plans and goals.
- Fidelity Go: This offering includes a digital, customized investment plan with ongoing monitoring, adjusting, and reporting. The minimum balance is just $10, and advisory fees are free up to $10K, $3/month from $10K to $50K, and .35%/year after that.
- Fidelity Personalized Planning and Advice: This feature combines the above digital investment management with unlimited 1-on-1 financial advice. $25,000 minimum assets under management required, and advisory fees run .50% annually.
- Fidelity Wealth Management: This package gets you completely customized financial management and guidance from a dedicated human advisor. You will need $250,000 in assets to access this offering, and fees range from .50% to 1.50%.
- Fidelity Private Wealth Management: Here we build on the last feature with Fidelity’s most robust offering when it comes to investment planning and advice . With Private wealth management, investors can expect complete and custom investment advice and management from a whole team of planners. This offering requires an investor to have $2 million in assets managed through Fidelity, $10 million in investable assets, and costs .20% to 1.04% in annual fees.
Bottom Line: Fidelity is for investors who plan to go all-in on growing their money and meeting their financial advice needs, digitally, with Fidelity.
4. Schwab Intelligent Portfolios Premium: A Robo-Human Hybrid for HNWIs
Schwab Intelligent Portfolios Premium is an interesting service from another mega financial services company, Charles Schwab.
This feature brings together automation in the form of robo-advisors with real-life certified financial planners to help high-net-worth individuals (HNWIs) create successful portfolios.
First, the robo-advisor builds a diverse portfolio full of affordable exchange-traded funds (ETFs), which it then automatically manages and rebalances based on goals you’ve set with help from — you guessed it — a financial planner.
The financial planner you have access to with this offering will aid you in crafting realistic retirement and other savings goals, developing a roadmap for reaching these goals, and understanding portfolio performance.
Access to this hybrid service from Schwab requires $25,000 in assets, a one-time planning fee of $300, a $30/month advisory fee, and whatever expenses your ETFs incur.
Bottom Line: This offering is great for traditional HNWI investors who are ready to dip a toe into the world of robo-advisors.
5. Morningstar Premium: Portfolio Management Complete with Top Investment Picks
Morningstar is a recognized investment management and research firm that other investment companies rely on for their expertise. Now, that expertise is available to individual investors in the form of Morningstar Premium’s package of research, analytics, and portfolio-creation tools that runs $249 per year.
With Morningstar Premium, investors can browse the firm’s research to come up with new investment ideas, evaluate investments based on ratings and valuations right from their analyst team, view the company’s top investment picks (including ETFs, stocks, and mutual funds), and of course monitor all your asset allocations using their tracking software.
Morningstar Premium is really more of a supplementary research and confirmation tool than it is a robust portfolio management platform. We’d recommend it for hands-on investors who like to adjust and diversify their portfolio often enough to make the yearly subscription worth it.
Bottom Line: Morningstar Premium offers great supporting research for diverse and active hands-on investors.
Choose Your Best SigFig Competitor Today
SigFig is a useful piece of software for investors who are into traditional assets and desire a touch of personalized financial management, all for a pretty reasonable yearly percentage.
But if you’re looking for something a little different, we hope this list of SigFig competitors with a range of focuses at a variety of price points has been helpful!
If you’re an independent investor who finds yourself in need of a really comprehensive investment portfolio tracker and balance sheet software that helps you manage a diverse array of assets — sign up and give Kubera try.