Vanguard Digital Advisor is a better choice for investors seeking a low-cost, automated investment platform with tax-loss harvesting and a low minimum investment. Ellevest Premium is more suitable for investors who value access to human advisors and personalized financial advice that considers gender-specific financial challenges, and are comfortable with a higher fee and minimum investment.
| Attribute | Vanguard Digital Advisor | Ellevest Premium |
|---|---|---|
| Minimum Investment Amount | $100 for retail brokerage accounts; $5 for eligible 401(k) plan participant accounts. | $50,000 minimum aggregate account balance |
| Annual Advisory Fee | Approximately 0.15% of assets for an all-index portfolio. For ESG or active/index options, it ranges from 0.11% to 0.20%. The advisory fee is waived for the first 90 days for new clients. | 0.50% per year of assets under management |
| Investment Portfolio Options | All-Index, Active/Index, and ESG. These portfolios are composed of Vanguard funds and ETFs. | Ellevest Core (22 ETFs) and Ellevest Impact (3 ESG funds) |
| Tax-Loss Harvesting | Yes, Vanguard Digital Advisor offers tax-loss harvesting. | Not available |
| Financial Planning Tools | Includes tools for retirement planning, goal setting, debt payoff, and portfolio creation. Also offers a goal optimizer and a rainy day emergency fund tool. | Retirement planning tools, tools for setting financial goals (e.g., buying a home, starting a business) |
| Access to Human Advisors | No, Vanguard Digital Advisor is an all-digital service and does not provide access to human financial advisors. However, Vanguard Personal Advisor offers access to human advisors for a higher fee and minimum investment. | Initial 15-minute consultation with a Certified Financial Planner (CFP), discounts on one-on-one financial guidance |
| Account Types Supported | Individual and joint taxable brokerage accounts, traditional, Roth, rollover, SEP, and inherited IRAs, and 401(k)s for eligible plans on Vanguard's record-keeping platform. | Individual (taxable) investment accounts, traditional IRA, Roth IRA, SEP IRA, individual 401(k)s |
| Mobile App Availability | Yes, Vanguard Digital Advisor is accessible through Vanguard's mobile app. | No longer supports iOS and Android mobile applications (as of February 25, 2025); accessible through the Ellevest website |
| Socially Responsible Investing (SRI) Options | Yes, through the ESG portfolio option. | Impact Portfolios that invest in companies promoting ESG goals, including those making a positive impact for women |
| Customer Support Channels | Phone support is available Monday to Friday, 8 a.m. to 8 p.m. Eastern time. Email support is also available. | Email, Help Center (submit a request), chatbot on the website |
| Goal Setting and Tracking | The platform helps clients identify retirement and non-retirement goals. It crafts and manages customized, diversified, and tax-efficient investment portfolios to achieve them. | Allows users to set up multiple goal-specific accounts and track progress toward their financial goals |
| Personalized Financial Advice | The platform creates a personalized retirement plan based on your financial profile, including retirement target date, financial goals, and risk preference. | Personalized investment plans based on financial goals, risk tolerance, and time horizon; considers gender-specific issues like pay gaps and career breaks |