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 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. Ally Invest Advisors's score is 4.00 stars versus Merrill Edge Guided Investing's 3.00 stars.
Looking at both robo-advisors, we can also explore their features. Neither robo offers tax-loss harvesting. For running predictions on retirement, clients will want to use a retirement calculator. Neither robo offers an advanced retirement calculator. Tracking personal financial goals can also be important. Ally Invest Advisors has goal tracking, Merrill Edge Guided Investing doesn't. Finally, the ability to import and aggregate third-party financial accounts for holistic analysis can be particularly useful. Merrill Edge Guided Investing nor Ally Invest Advisors 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. Merrill Edge Guided Investing and Ally Invest Advisors both offer live chat support.
Overall, Ally Invest Advisors comes out on top with 3.50 stars over Merrill Edge Guided Investing's 3.00 stars. And, as far as individual category awards go, Merrill Edge Guided Investing posted awards Best in Class - Customer Service, while Ally Invest Advisors found itself with none of these.