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 Merrill Edge Guided Investing 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 received a rating of 5.00 stars over Merrill Edge Guided Investing's 3.00 stars.
Looking at both robo-advisors, we can also explore their features. Schwab Intelligent Portfolios has tax-loss harvesting, Merrill Edge Guided Investing doesn't. For running predictions on retirement, clients will want to use a retirement calculator. Schwab Intelligent Portfolios has an advanced retirement calculator, Merrill Edge Guided Investing doesn't. Tracking personal financial goals can also be important. Schwab Intelligent Portfolios offers goal tracking while Merrill Edge Guided Investing does not. Finally, the ability to import and aggregate third-party financial accounts for holistic analysis can be particularly useful. Schwab Intelligent Portfolios makes external accounts analysis available to clients, while Merrill Edge Guided Investing 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. Merrill Edge Guided Investing alongside Schwab Intelligent Portfolios offer live chat support.
Overall, Schwab Intelligent Portfolios takes the upper hand with 4.50 stars over Merrill Edge Guided Investing's 3.00 stars. And, as far as individual category awards go, Schwab Intelligent Portfolios was rated Best in Class - Cost and Best in Class - Platforms & Tools, while Merrill Edge Guided Investing was rated Best in Class - Customer Service.