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 E*TRADE Adaptive Portfolio vs TD Ameritrade Essential 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. TD Ameritrade Essential Portfolios is a better option with a 4.00 star rating over E*TRADE Adaptive Portfolio's 3.50 star rating.
Looking at both robo-advisors, we can also explore their features. TD Ameritrade Essential Portfolios offers tax-loss harvesting while E*TRADE Adaptive Portfolio does not. For running predictions on retirement, clients will want to use a retirement calculator. TD Ameritrade Essential Portfolios offers an advanced retirement calculator while E*TRADE Adaptive Portfolio does not. Tracking personal financial goals can also be important. TD Ameritrade Essential Portfolios makes goal tracking available to clients, while E*TRADE Adaptive Portfolio does not. Finally, the ability to import and aggregate third-party financial accounts for holistic analysis can be particularly useful. E*TRADE Adaptive Portfolio nor TD Ameritrade Essential Portfolios offers 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. E*TRADE Adaptive Portfolio and TD Ameritrade Essential Portfolios both offer live chat support.
Overall, TD Ameritrade Essential Portfolios takes the upper hand with 4.50 stars over E*TRADE Adaptive Portfolio's 3.00 stars. And, as far as individual category awards go, TD Ameritrade Essential Portfolios was rated Best in Class - Investment Approach, Best in Class - Platforms & Tools and Best in Class - Customer Service, while E*TRADE Adaptive Portfolio was rated none of these.