We spent over 100 hours testing robo-advisors, opening and funding an account with each robo to acquire a true client experience and find the best robo advisors
. In this comparison, we will compare Acorns vs Personal Capital to see which robo-advisor is better.
First, let’s take a look at the fees of these two investment advisors. Cost is broken down into both the annual management fee charged each year as well as the expense ratios charged by the ETF holdings themselves. Acorns's score is 4.50 stars versus Personal Capital's 3.00 stars.
Looking at both robo-advisors, we can also explore their features. Personal Capital has tax-loss harvesting, Acorns doesn't. For running predictions on retirement, clients will want to use a retirement calculator. Personal Capital offers an advanced retirement calculator while Acorns does not. Tracking personal financial goals can also be important. Personal Capital has goal tracking, Acorns doesn't. Finally, the ability to import and aggregate third-party financial accounts for holistic analysis can be particularly useful. Personal Capital offers external accounts analysis while Acorns does not.
Lastly, tech savvy Millennials may find it valuable to have access to customer service through phone, email, and live chat. However, not every robo-advisor offers live chat support. Acorns makes live chat support available to clients, while Personal Capital does not.
Overall, Personal Capital takes the upper hand with 4.50 stars over Acorns's 4.00 stars. And, as far as individual category awards go, unfortunately, neither Acorns nor Personal Capital received awards Best in Class - Cost, Best in Class - Investment Approach, Best in Class - Platforms & Tools and Best in Class - Customer Service.