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Competition is heating up among the Robo-Advisors. We get a lot of emails asking which is better: Acorns vs. Betterment vs. Wealthfront so we broke down each of the services to see who deserves your investment.
The whole point of going with a Robo-Advisor is the ease of use. Based on the research, it’s highly unlikely you’ll outperform the market on your own. Better yet, if you tried to do it on your own, it would be much more expensive.
For someone just looking to invest with the right service, it’s getting harder and harder to tell where you should put your money.
Before we get started, I also wrote an incredibly in-depth Betterment Review, an equally detailed Wealthfront Review as well as interviewed the Acorns founders so if you’re looking to go even deeper check those out. In this article, I’ll be focusing more on the nuances of each service than the nitty-gritty features and how they work.
Let the Robo-Advisor battle begin!
A Birds Eye View
Every good investment comparison needs a sexy chart breaking down the differences. I’m not one to leave you wanting so bask in its glory:
Promotions
Students Invest For Free
Up to 6 Months Free
Invest $15,000 Free
Management Fees
0.25% a year
0.25% – 0.5% a year
0% – 0.25% a year
Minimum Deposit
None
None
None
Automatic Rebalancing
Yes
Yes
Yes
Tax Loss Harvesting
No
Yes
Yes
Assets Under Management
$73.6 Million
$5 Billion
$3.5 Billion
iOS App
Yes
Yes
Yes
Android App
Yes
Yes
Yes
Taxable Accounts
Yes
Yes
Yes
IRAs
Yes
Yes
Yes
On paper they’re very comparable but as you know, the magic is in the details. In order to objectively compare Acorns vs Betterment vs Wealthfront I’ve come up with three main rounds the services will battle in to win your investment.
Round 1: Ease of Use and Sex Appeal
Acorns has a beautiful app and a beautiful website. It’s one of the best-designed apps on my phone by a long shot. I’m of course not the only one to notice this – they’ve won some design award every year since they opened their doors.
That’s sexy investing, am I right or am I right? This Round was just going to be called Ease of Use, but Acorns elevated it to Sex Appeal. I’m willing to bet this is the biggest way they get people to try them out. Sexy screenshots.
That can also be a downside though. We’re about investing for the long-term here so if you need to keep opening your app just to see the pretty colors; you’ll also see daily fluctuations and go slowly insane.
Learn more about your ad choices. Visit megaphone.fm/adchoices
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Competition is heating up among the Robo-Advisors. We get a lot of emails asking which is better: Acorns vs. Betterment vs. Wealthfront so we broke down each of the services to see who deserves your investment.
The whole point of going with a Robo-Advisor is the ease of use. Based on the research, it’s highly unlikely you’ll outperform the market on your own. Better yet, if you tried to do it on your own, it would be much more expensive.
For someone just looking to invest with the right service, it’s getting harder and harder to tell where you should put your money.
Before we get started, I also wrote an incredibly in-depth Betterment Review, an equally detailed Wealthfront Review as well as interviewed the Acorns founders so if you’re looking to go even deeper check those out. In this article, I’ll be focusing more on the nuances of each service than the nitty-gritty features and how they work.
Let the Robo-Advisor battle begin!
A Birds Eye View
Every good investment comparison needs a sexy chart breaking down the differences. I’m not one to leave you wanting so bask in its glory:
Promotions
Students Invest For Free
Up to 6 Months Free
Invest $15,000 Free
Management Fees
0.25% a year
0.25% – 0.5% a year
0% – 0.25% a year
Minimum Deposit
None
None
None
Automatic Rebalancing
Yes
Yes
Yes
Tax Loss Harvesting
No
Yes
Yes
Assets Under Management
$73.6 Million
$5 Billion
$3.5 Billion
iOS App
Yes
Yes
Yes
Android App
Yes
Yes
Yes
Taxable Accounts
Yes
Yes
Yes
IRAs
Yes
Yes
Yes
On paper they’re very comparable but as you know, the magic is in the details. In order to objectively compare Acorns vs Betterment vs Wealthfront I’ve come up with three main rounds the services will battle in to win your investment.
Round 1: Ease of Use and Sex Appeal
Acorns has a beautiful app and a beautiful website. It’s one of the best-designed apps on my phone by a long shot. I’m of course not the only one to notice this – they’ve won some design award every year since they opened their doors.
That’s sexy investing, am I right or am I right? This Round was just going to be called Ease of Use, but Acorns elevated it to Sex Appeal. I’m willing to bet this is the biggest way they get people to try them out. Sexy screenshots.
That can also be a downside though. We’re about investing for the long-term here so if you need to keep opening your app just to see the pretty colors; you’ll also see daily fluctuations and go slowly insane.
Learn more about your ad choices. Visit megaphone.fm/adchoices
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