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 Personal Capital 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 Personal Capital's 3.00 star rating.
Looking at both robo-advisors, we can also explore their features. Both Personal Capital and Wealthfront offer tax-loss harvesting. For running predictions on retirement, clients will want to use a retirement calculator. Personal Capital and Wealthfront both offer an advanced retirement calculator. Tracking personal financial goals can also be important. Personal Capital alongside Wealthfront offer goal tracking. Finally, the ability to import and aggregate third-party financial accounts for holistic analysis can be particularly useful. Both Personal Capital and Wealthfront offer 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. Personal Capital nor Wealthfront offers live chat support.
Overall, Personal Capital comes out on top with 4.50 stars over Wealthfront's 4.00 stars. And, as far as individual category awards go, Wealthfront finished with awards Best in Class - Cost, while Personal Capital came up with none of these.