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 Ally Invest Advisors 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. Betterment received a rating of 4.50 stars over Ally Invest Advisors's 4.00 stars.
Looking at both robo-advisors, we can also explore their features. Betterment has tax-loss harvesting, Ally Invest Advisors doesn't. For running predictions on retirement, clients will want to use a retirement calculator. Betterment has an advanced retirement calculator, Ally Invest Advisors doesn't. Tracking personal financial goals can also be important. Betterment alongside Ally Invest Advisors offer goal tracking. Finally, the ability to import and aggregate third-party financial accounts for holistic analysis can be particularly useful. Betterment makes external accounts analysis available to clients, while Ally Invest Advisors 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. Both Betterment and Ally Invest Advisors offer live chat support.
Overall, Betterment boasts 4.50 stars versus Ally Invest Advisors's 3.50 stars. And, as far as individual category awards go, Betterment was rated Best in Class - Cost, Best in Class - Investment Approach, Best in Class - Platforms & Tools and Best in Class - Customer Service, while Ally Invest Advisors was rated none of these.