Robo advisors are increasingly growing in popularity, and these automated services are threatening to take huge amounts of business away from traditional financial advisors. To help you narrow down the choices, we decided to review some of the most popular robo advisors on the market to help you make the most informed decision, it is comparison between Wisebanyan vs Betterment.
WiseBanyan was built on two pillars: minimize fees as much as possible and help people start investing sooner. These not only empower you to achieve your goals more easily, but also to maximize your money’s potential through compound returns. As a WiseBanyan client, your financial plan is invested into well-diversified portfolios of exchange-traded funds (ETFs) to capture market returns. WiseBanyan securely manages and monitors everything around the clock. Cutting out the fat doesn’t mean cutting back on security. Your personal information is fully encrypted, securely stored, and protected by the state-of-the-art technology. This company has deep financial and investment industry experience, from managing portfolios for individuals and institutions to overseeing hedge fund portfolios. WiseBanyan came together with a shared belief that the current financial system was not designed with the modern investor in mind, and built a unified mission to help everyone achieve their financial goals. (Read also: Betterment vs Fidelity)
Betterment serve for one purpose: to help you make the most of your money. they taking proven investment strategies that have been around for decades and using technology to make them more efficient. The goal is to increase your long-term returns. They receive personalized advice for your financial planning needs. This company make tailored recommendations on decisions like how much to invest and how much risk to take on in your portfolio. Then invest your money and help lower taxes in ways many traditional investment services can’t match. As your online financial advisor, Betterment always have your back. They don’t get commissions for recommending funds, and don’t have funds of their own. That means they do what they believe is right for you. While their technology constantly works to grow your money, their licensed experts are here when you need them.
|- WiseBanyan does not charge any custodial fees but earns money from a la carté products and services designed to provide personalized value to their clients. Customers can opt into paid services as they wish. .||- Betterment charges customers transparent commissions in exchange for advice that helps them achieve goals such as saving for retirement or building an emergency fund
|- WiseBanyan requires a $1 minimum deposit to start||- Betterment account with a $0 opening balance|
|- WiseBanyan currently integrates only with TurboTax.
||- Betterment integrates with TurboTax, TaxAct, and H&R Block tax preparation software|
|- Customer Support is a little difficult to locate on WiseBanyan’s website
||- Betterment provides customer support Monday through Friday from 9 am to 8 pm, Eastern and Saturday and Sunday from 11 am to 6 pm. You can also send support emails or live chat via the website.|
For the final thought, in a WiseBanyan vs Betterment comparison, Betterment comes out as the winner for now. Its reputation precedes it, and it has quickly become the model other start-ups are looking to emulate. While WiseBanyan may prove to be a worthy Betterment competitor, in the meantime, new investors will feel more comfortable flocking to Betterment.