At Investor Junkie, we reviewed over 100 investing and personal finance services. Our goal is to bring you the most honest, simple, and informative reviews. Turns out, users also want to compare specific services.
This review compares Betterment and Charles Schwab Intelligent Portfolios. The better service depends on your needs. So let's dive in!
According to our readers (you!), when it comes to robo advisors, people care most about the fees, minimum investment requirements, and whether or not the service supports for 401(k) plans. Let's look at how Betterment and Charles Schwab Intelligent Portfolios stack up against each other on these threads.
To start, we will compare the fees for trading with both robo advisors. Betterment has a fees starting at 0.25% fee per year. To contrast, Charles Schwab Intelligent Portfolios has annual fees of 0%.
When it comes to fees, M1 Finance wins by not charging anything to use their service.
Let's consider the minimum investment that's required to use both Betterment and Charles Schwab Intelligent Portfolios.
At $0, Betterment requires a smaller minimum deposit.
When it comes to support for 401(k) plans, there is a clear line of division. Betterment does offer support for 401(k) plans, while Charles Schwab Intelligent Portfolios does not. If you are someone who wants help on your employee-sponsored retirement account, Betterment will be your option.
Overall, Betterment gets a 9/10 rating, while Charles Schwab Intelligent Portfolios gets a 8.5/10 rating. For more information on either service, you can read our full reviews on Betterment and Charles Schwab Intelligent Portfolios.
Betterment is a good starting point for beginner investors. The robo advisor has no minimum deposit and costs 0.25% annually. If you need the assistance, it recently added human advisors, which can assist with your retirement account. Unfortunately, its asset allocation excludes REITs or commodities.
About Charles Schwab Intelligent Portfolios
Schwab Intelligent Portfolios is Charles Schwab’s robo-investing service. Like other robo advisors, it provides professional investment management for your portfolio for a minimum investment ($5,000). But what makes Schwab Intelligent Portfolios unique in the industry — and particularly among large brokerage firms — is that Schwab offers the service without charging fees. And with Schwab's family of financial services, it's a one-stop shop: You can have some of your portfolio professionally managed through Schwab Intelligent Portfolios while being free to take advantage of all of the other benefits that Schwab offers.
|Review||Betterment Review||Charles Schwab Intelligent Portfolios Review|
Overall rating as by Investor Junkie.Rating
|Commissions & Fees|
|Ease of Use|
|Tools & Resources|
|Promotions||Up To 1 Year Free||None|
|Account Fees||Digital – 0.25%/year; Premium – 0.40%/year||None|
|Accounts Available||Taxable, Joint, Roth IRA, Traditional IRA, Rollover IRA, SEP IRA, Trusts, Non-Profit||Taxable, Joint, Roth IRA, Traditional IRA, Rollover IRA, Custodial, SEP IRA, SIMPLE IRA, Trusts|
Does the robo-advisor offer assistance with your employer sponsored retirement plan?401(k) Guidance
|Tax Loss Harvesting||Yes — All Taxable Accounts||Yes — All Taxable Accounts|
|Retirement Planning Tools||Yes||No|
|Automatic Deposits||Weekly, Biweekly and Monthly||Monthly, Bimonthly and Quarterly|
|Clearing Agency||Apex Clearing||N/A|
|Socially Responsible Investing||Yes||No|
|Invests in Commodities||No||Yes|
|Invests in Real Estate||No||Yes|
How can you access the sevice? Website only? Via smartphone app?Access
|Website, iOS App, Android App||Website, iOS App, Android App|
More security to prevent unauthorized access to your account.Two-Factor Authentication
|Customer Service||Phone: M-Th 9A-8P, F 9A-6P ET; Live Chat: M-Th 9A-8P, F 9A-6P, Sat-Sun 11A-6P ET; Email||Phone: 24/7; Live Chat: 24/7; Email|
|Assets Under Management||$12B||$27B|
|Number of Accounts||393K||N/A|
|Sign Up||Sign Up|