For our Robo-Advisor Review we assessed, rated, and ranked eight different firms. Instead of relying on website information and marketing materials as most editorials do, we opened and funded an account with each robo-advisor
to acquire a true client experience. Here, we will compare Ally Invest Advisors vs Wealthfront to see which robo-advisor is best.
To start our comparison, we will take a look at the annual fees for both services. Cost is broken down into two separate buckets: the annual management fee charged for having an account and the annual fee charged for holding each ETF in the portfolio. Wealthfront's score is 4.50 stars versus Ally Invest Advisors's 4.00 stars.
Exploring both robo-advisor feature sets, we can also find differences. Wealthfront has tax-loss harvesting, Ally Invest Advisors doesn't. For running calculations on being ready for retirement, clients will want a retirement calculator. Wealthfront makes an advanced retirement calculator available to clients, while Ally Invest Advisors does not. Some customers like to monitor their personal financial goals. Ally Invest Advisors alongside Wealthfront offer goal tracking. Finally, an attractive feature includes providing deeper account analysis thanks to the ability to import and aggregate third-party financial accounts. Wealthfront makes external accounts analysis available to clients, while Ally Invest Advisors does not.
Lastly, more web savvy customers may find it valuable to have access to customer service through phone, email, and live chat. However, not every robo provides live chat support as an option. Ally Invest Advisors offers live chat support while Wealthfront does not.
Overall, Wealthfront comes out on top with 5.00 stars over Ally Invest Advisors's 3.50 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 Ally Invest Advisors found itself with none of these.