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 Betterment vs Schwab Intelligent Portfolios 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. Schwab Intelligent Portfolios's score is 5.00 stars versus Betterment's 4.50 stars.
Looking at both robo-advisors, we can also explore their features. Betterment alongside Schwab Intelligent Portfolios offer tax-loss harvesting. For running predictions on retirement, clients will want to use a retirement calculator. Betterment and Schwab Intelligent Portfolios both offer an advanced retirement calculator. Tracking personal financial goals can also be important. Betterment alongside Schwab Intelligent Portfolios offer goal tracking. Finally, the ability to import and aggregate third-party financial accounts for holistic analysis can be particularly useful. Both Betterment and Schwab Intelligent Portfolios offer external accounts analysis.
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. Betterment alongside Schwab Intelligent Portfolios offer live chat support.
Overall, Betterment boasts 5.00 stars versus Schwab Intelligent Portfolios's 4.50 stars. And, as far as individual category awards go, Schwab Intelligent Portfolios finished with awards Best in Class - Cost and Best in Class - Platforms & Tools, while Betterment came up with Best in Class - Cost, Best in Class - Investment Approach and Best in Class - Platforms & Tools.