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 Schwab Intelligent Portfolios 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. Schwab Intelligent Portfolios received a rating of 5.00 stars over Ally Invest Advisors's 4.00 stars.
Looking at both robo-advisors, we can also explore their features. Schwab Intelligent Portfolios makes tax-loss harvesting available to clients, while Ally Invest Advisors does not. For running predictions on retirement, clients will want to use a retirement calculator. Schwab Intelligent Portfolios makes an advanced retirement calculator available to clients, while Ally Invest Advisors does not. Tracking personal financial goals can also be important. Schwab Intelligent Portfolios alongside Ally Invest Advisors offer goal tracking. 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 Ally Invest Advisors 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. Schwab Intelligent Portfolios and Ally Invest Advisors both offer live chat support.
Overall, Schwab Intelligent Portfolios takes the upper hand with 4.50 stars over Ally Invest Advisors's 3.50 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 Ally Invest Advisors was rated none of these.