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 Charles Schwab Intelligent Portfolios and Merrill Edge Guided Investing (MEGI).
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 Charles Schwab Intelligent Portfolios and Merrill Edge Guided Investing (MEGI) stack up against each other on these features.
To start, we will compare the fees for trading with both robo
advisors. Charles Schwab Intelligent Portfolios has
annual fees at 0% fee per year. In
contrast, Merrill Edge Guided Investing (MEGI) has annual fees of 0.45%.
Charles Schwab Intelligent Portfolios wins because their service is free to use.
Let's consider the minimum investment that's required to use both Charles Schwab Intelligent Portfolios and Merrill Edge Guided Investing (MEGI).
At $5,000, both services have the same minimum deposit.
Both Charles Schwab Intelligent Portfolios and Merrill Edge Guided Investing (MEGI) have the same $5,000 minimum deposit.
Unfortunately, neither service offers assistance with your 401(k) and you will have to find another service if this is a requirement for you.
Overall, Charles Schwab Intelligent Portfolios rates 8.5 out of 10, while Merrill Edge Guided Investing (MEGI) ranks 8 out of 10. For more information on either, you can read our full reviews on Charles Schwab Intelligent Portfolios and Merrill Edge Guided Investing (MEGI).
|Review||Charles Schwab Intelligent Portfolios Review||Merrill Edge Guided Investing (MEGI) Review|
Overall rating as by Investor Junkie.Rating
|Commissions & Fees|
|Ease of Use|
|Tools & Resources|
|Accounts Available||Taxable, Joint, Roth IRA, Traditional IRA, Rollover IRA, Custodial, SEP IRA, SIMPLE IRA, Trusts||Taxable, Joint, Roth IRA, Traditional IRA, Rollover IRA, Custodial, SEP IRA, SIMPLE IRA, 401(k), Solo 401(k), 529|
Does the robo-advisor offer assistance with your employer sponsored retirement plan?401(k) Guidance
|Tax Loss Harvesting||— All Taxable Accounts|
|Retirement Planning Tools|
|Automatic Deposits||Monthly, Bimonthly and Quarterly||Daily, Weekly, Biweekly and Monthly|
|Clearing Agency||N/A||Merrill Lynch|
|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: 24/7; Live Chat: 24/7; Email||Phone: 24/7; Live Chat: 24/7; Email|
|Assets Under Management||$27B||$0|
|Number of Accounts||N/A||N/A|
|Sign Up||Sign Up|
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.
About Merrill Edge Guided Investing (MEGI)
MEGI is a robo advisor that combines automated investing with active management of your portfolio. It invests your money in index-based ETFs, but it actively manages your portfolio allocation. This gives you an opportunity to both outperform the market and minimize losses in a downturn. The major negative is that the management fee is higher than those of most other robo advisors. But the active management component may very well justify the higher fee.