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 Ally Invest Advisors 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 Ally Invest Advisors's 4.00 star rating.
Looking at both robo-advisors, we can also explore their features. Wealthfront 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. Wealthfront makes an advanced retirement calculator available to clients, while Ally Invest Advisors does not. Tracking personal financial goals can also be important. Ally Invest Advisors alongside 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 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. Ally Invest Advisors makes live chat support available to clients, while Wealthfront does not.
Overall, Wealthfront takes the upper hand with 5.00 stars over Ally Invest Advisors's 3.50 stars. And, as far as individual category awards go, Wealthfront finished with awards Best in Class - Cost, Best in Class - Investment Approach and Best in Class - Platforms & Tools, while Ally Invest Advisors came up with none of these.