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 Core Portfolios vs Wealthfront 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. Wealthfront is a better option with a 4.50 star rating over E*TRADE Core Portfolios's 3.50 star rating.
Looking at both robo-advisors, we can also explore their features. Wealthfront makes tax-loss harvesting available to clients, while E*TRADE Core Portfolios does not. For running predictions on retirement, clients will want to use a retirement calculator. Wealthfront makes an advanced retirement calculator available to clients, while E*TRADE Core Portfolios does not. Tracking personal financial goals can also be important. Wealthfront makes goal tracking available to clients, while E*TRADE Core Portfolios does not. Finally, the ability to import and aggregate third-party financial accounts for holistic analysis can be particularly useful. Wealthfront has external accounts analysis, E*TRADE Core Portfolios doesn't.
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 Core Portfolios has live chat support, Wealthfront doesn't.
Overall, Wealthfront comes out on top with 5.00 stars over E*TRADE Core Portfolios's 3.00 stars. And, as far as individual category awards go, Wealthfront was rated Best in Class - Cost, Best in Class - Investment Approach and Best in Class - Platforms & Tools, while E*TRADE Core Portfolios was rated none of these.