Betterment vs Wealthfront

So much chatter is going around these days in all of my podcasts about those robo advisors. So I decided to open accounts on two of the most known ones. Betterment and Wealthfront. You can read up on bunch of other sites comparing their features and everything. I can’t go into that much detail here. I’m lazy. I’m simply going to compare the numbers periodically and report back here.

Day 1: Both Betterment and Wealthfront have a very easy to use website. I initiated linking my bank account on both. Both Wealthfront and Betterment are waiting on me confirming two tiny deposits.

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Day 2: Both Betterment and Wealthfront deposited two tiny amounts to my bank account as promised. I was very quickly able to verify my bank account on both sites. I initiated a transfer of $500 to both and set up recurring auto deposit of $100 per month on the 20th.

recurring transfer and initial deposit

wealthfront

Initial transfer and recurring auto deposit setup

betterment

Day 7: My initial deposit of $500 was transferred and invested in stocks they seemed appropriate. Looks like Wealthfront made me $2 where as Betterment lost me $1. Of course this doesn’t say much. I’ll check back when my first auto deposit of $100 is transferred.

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Day 45: Looks like the markets turned out a bit since last update even despite Brexit 🙂 Let’s see how each of my accounts are doing. So far I’ve only invested $500 initially and another $100 back on June 20th. A total of $600 invested at the exact same time for both accounts. Betterment says I have $606 and Wealthfront says I have $612. Twice as much in earnings. Good job Wealthfront! I will come back and update in 6 months or so.

betterment5

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2 Responses to Betterment vs Wealthfront

  1. Ahmad November 1, 2016 at 4:35 pm #

    What was your risk tolerance in wealthfront I’m planning to invest $500?

  2. Jennifer Snuffleupagus September 12, 2017 at 10:35 am #

    I have to go with betterment, but I’m biased as I have a few friends that work there in NYC and the company is so solid in terms of how it treats its employees and in hiring really smart, thoughtful people to manage its systems.

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