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 TD Ameritrade Essential 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's score is 4.50 stars versus TD Ameritrade Essential Portfolios's 4.00 stars.
Looking at both robo-advisors, we can also explore their features. Both TD Ameritrade Essential Portfolios and Wealthfront offer tax-loss harvesting. For running predictions on retirement, clients will want to use a retirement calculator. Both TD Ameritrade Essential Portfolios and Wealthfront offer an advanced retirement calculator. Tracking personal financial goals can also be important. Both TD Ameritrade Essential Portfolios and Wealthfront offer goal tracking. Finally, the ability to import and aggregate third-party financial accounts for holistic analysis can be particularly useful. Wealthfront offers external accounts analysis while TD Ameritrade Essential Portfolios 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. TD Ameritrade Essential Portfolios offers live chat support while Wealthfront does not.
Overall, Wealthfront boasts 5.00 stars versus TD Ameritrade Essential Portfolios's 4.50 stars. And, as far as individual category awards go, Wealthfront posted awards Best in Class - Cost, Best in Class - Investment Approach and Best in Class - Platforms & Tools, while TD Ameritrade Essential Portfolios found itself with Best in Class - Investment Approach.