We've reviewed many investing and personal finance services. We want to help you make the best decision of which service best suits your needs.
This comparison we review Betterment and Charles Schwab Intelligent Portfolios.
From our research, annual fees, minimum deposit, and 401(k) support the most important
features which choosing a robo advisor. Let's look at how Betterment and Charles Schwab Intelligent Portfolios stack up against each other on these features.
To start, we will compare the fees for trading with both robo
advisors. Betterment has
annual fees at 0.25% fee per year. In
contrast, Charles Schwab Intelligent Portfolios has annual fees of 0%.
When it comes to fees, Charles Schwab Intelligent Portfolios 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 supporting 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 rates 9 out of 10, while Charles Schwab Intelligent Portfolios ranks 8.5 out of 10. For more information on either, you can read our full reviews on Betterment and Charles Schwab Intelligent Portfolios.
|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||— All Taxable Accounts||— All Taxable Accounts|
|Retirement Planning Tools|
|Automatic Deposits||Weekly, Biweekly and Monthly||Monthly, Bimonthly and Quarterly|
|Clearing Agency||Apex Clearing||N/A|
|Socially Responsible Investing|
|Invests in Commodities|
|Invests in Real Estate|
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||$13B||$27B|
|Number of Accounts||444K||N/A|
|Sign Up||Sign Up|
Betterment is equally a good starting point for beginner investors and a useful platform for more experienced investors. The robo advisor has no minimum deposit and costs 0.25% annually. If you need the assistance, it recently added human advisors, who 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 fee-free robo-investing service. And with the company's family of financial services, it's a one-stop shop: You can have some of your portfolio professionally managed through Intelligent Portfolios while being free to take advantage of all of the other benefits that Schwab offers.