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SigFig expert review by Barbara Friedberg
SigFig is an automated investment advisor committed to helping large and small investors with a simplified, technology-based investing approach. They manage investors accounts held in TD Ameritrade, Schwab and Fidelity brokerage firms.
- Portfolio dashboard: The single portfolio dashboard allows investors to monitor all of their investments in one place and sync 401k, IRA, brokerage and advisor accounts. The dashboard is updated daily.
- Fees: The investor’s first $10,000 is managed for free. After that SigFig charges an annual fee of 0.25 percent of assets under management (AUM), billed monthly. There are no trading fees. The only additional fees are embedded in their low fee exchange traded funds (ETFs) which typically charge between 0.07 percent and 0.15 percent. There are individual fund fees in all mutual and exchange traded funds.
- Managed accounts: SigFig doesn’t hold investors’ assets but manages them while they remain in the consumer’s Fidelity, TD Ameritrade and/or Schwab accounts.
- Low minimum: SigFig requires a low minimum investment amount of $2,000 to use their service.
- Investment portfolios: SigFig creates an efficient, well-balance, risk-adjusted investment portfolio using low-cost commission-free ETFs from Vanguard, iShares and/or Schwab. The investments are monitored daily and rebalanced when they deviate from the investor’s preferred asset allocation.
- Tax-loss harvesting: The SigFig tax-loss harvesting algorithm works within asset classes to keep taxes as low as possible while maximizing gains.
- Human advisors: Included in the management fee, SigFig provides access to human advisors for guidance and advice.
- Mobile functionality: The system has apps for the iPhone, iPad, Apple watch and Android.
- Best for: Investors seeking an automated investment advisor with low-fees, access to human advice and the capability to manage investments within existing investment accounts.
Personal Finance Contributing Editor
Barbara Friedberg, MBA, MS is a former investment portfolio manager with decades of financial experience. Friedberg taught Finance and Investments at several universities. Her work has been featured in U.S. News & World Report, Investopedia, Yahoo!Finance and many more publications.
SigFig Company Information
- Company Name:
- Year Founded:
- 1663 Mission St
- San Francisco
- Postal Code:
- United States