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Betterment And Wealthfront: See The Difference In Our Approach

Betterment and Wealthfront began with similar investing models, but have since made vast changes to their product offerings. See how Betterment’s approach to changing personal finance can help you meet your goals.

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Which is right for your needs?

Both Betterment and Wealthfront help you save and invest, but their approaches differ. When choosing a money manager, consider the advice, investment strategy, and savings approach that’s right for you.

Betterment Wealthfront [1]

Investing
Betterment
Wealthfront [1]

Minimum to start
Betterment

$0
Wealthfront [1]

$500

Account fees
Betterment

0.25%
Wealthfront [1]

0.25%

Automatic deposits
Betterment
<title>This is supported</title>
Wealthfront [1]
<title>This is supported</title>

Tax-loss harvesting
Betterment
<title>This is supported</title>
Wealthfront [1]
<title>This is supported</title>

Asset location
Betterment
<title>This is supported</title>
Wealthfront [1]
<title>This is supported</title>

Design-your-own portfolios
Betterment
<title>This is supported</title>
Wealthfront [1]

Recommended funds are independent
of robo-advisor
Betterment
<title>This is supported</title>
Wealthfront [1]
<title>This is supported</title>

Withdrawal times for investment accounts
Betterment

4-5 business days
Wealthfront [1]

3-4 business days

Access to human advisors [2]
Betterment

Designed to manage your finances
with the help of financial experts.
Wealthfront [1]

Designed to manage your finances
with a software-only approach.

Fund recommendation approach
Betterment

Global diversification, portfolio and
tax optimization for all users.
Wealthfront [1]

Risk Parity Fund is
recommended to users with larger accounts,
introducing a conflict of interest.

High-interest saving
Betterment
Wealthfront [1]

Account types
Betterment

Cash Reserve: a high-interest cash account.
Wealthfront [1]

Cash Account: a high-interest cash account
with opt-in checking features.

Interest rate
Betterment

*
Wealthfront [1]

0.35%

Minimum balance to start
Betterment

$10
Wealthfront [1]

$1

Automatic savings tools:
Automatically moves money for
you between accounts.
Betterment
<title>This is supported</title>
Wealthfront [1]
<title>This is supported</title>

Joint accounts
Betterment
<title>This is supported</title>
Wealthfront [1]
<title>This is supported</title>

Cash goals:
Create separate stashes of money
for individual goals, like a
weekend getaway or kitchen reno.
Betterment
<title>This is supported</title>
Wealthfront [1]

Transfer limits
Betterment

Unlimited
Wealthfront [1]

Unlimited

FDIC insurance
Betterment

Cash Reserve is eigible for up to $1,000,000 at our program banks.†
Joint Cash Reserve is eligible for up to $2,000,000 at our program banks.†
Wealthfront [1]

Cash Account is covered up to $1,000,000.
Joint Cash Account is covered up to $2,000,000.

Spending
Betterment
Wealthfront [1]

Account types
Betterment

Checking - a checking account and Visa debit card provided by nbkc bank, Member FDIC.

Wealthfront [1]

Individual Cash Account: a high-interest cash account with opt-in checking features.

Interest rate
Betterment

0%
Wealthfront [1]

0.35%

Minimum deposits
Betterment

$0
Wealthfront [1]

$1

Debit card monthly fees
Betterment

No
Wealthfront [1]

No

Automatic savings tools
Betterment
<title>This is supported</title>
Wealthfront [1]
<title>This is supported</title>

ATM fees are reimbursed
Betterment

Yes‡
Wealthfront [1]

No

Mobile check deposit
Betterment
<title>This is supported</title>
Wealthfront [1]
<title>This is supported</title>

Tap-to-pay
Betterment
<title>This is supported</title>
Wealthfront [1]

Cell phone protection benefit
Betterment

Yes: Coverage is provided by our insurance partner Sure.
Wealthfront [1]

No

FDIC insurance
Betterment

Accounts eligible for up to $250,000 of FDIC insurance through nbkc bank, Member FDIC
Wealthfront [1]

Covered up to $1,000,000 once
deposited partner banks.

Transfer limits
Betterment

Unlimited
Wealthfront [1]

Unlimited

Joint accounts
Betterment

Coming soon
Wealthfront [1]

Physical checkbooks
Betterment

Coming soon
Wealthfront [1]

Minimum to start

 • Betterment: $0
• Wealthfront: $500
• Vanguard Digital Advisor: $3,000

Annual fees for investment accounts

 • Betterment: 0.25%
• Wealthfront: 0.25%
• Vanguard Digital Advisor: 0.20%

Goal based account setup

 • Betterment: Yes
• Wealthfront: Yes
• Vanguard Digital Advisor: Yes


Cash

Interest on your cash balance

 • Betterment: 0.40%*
• Wealthfront: 0.35%
• Vanguard Digital Advisor: No cash account


Investing

Automatic tax-loss harvesting

 • Betterment: Yes
• Wealthfront: Yes
• Vanguard Digital Advisor: No

Design-your-own portfolios

 • Betterment: Yes
• Wealthfront: No
• Vanguard Digital Advisor: No

Independence from banks and
fund providers

 • Betterment: Yes
• Wealthfront: No
• Vanguard Digital Advisor: No


Transfers

Withdrawal times for investment accounts

 • Betterment: 4-5 business days
• Wealthfront: 3-4 business days
• Vanguard Digital Advisor: 2 business days

Automatic deposits

 • Betterment: Yes
• Wealthfront: Yes
• Vanguard Digital Advisor: Yes

[1] Stated information regarding a Wealthfront Investing Account, Cash Account, or Individual Cash Account is based on Wealthfront’s website as of 10/05/2020 and does not reflect any promotional rates that may be available. Different interest rates may apply to different types of accounts at Wealthfront, different zip codes, and different balance amounts. Accordingly, the actual rate or features for any account that you hold at Wealthfront could be materially different than the rate or features stated here. You should contact Wealthfront for current and complete information about available account types, including applicable interest rates or features. Betterment is not responsible for the accuracy, timeliness, or completeness of information on third-party websites. This information is intended to be educational only and is not reflective of actual client experience or portfolio performance. Stated information regarding FDIC protection and transfer limits apply to savings accounts generally and are not specific to particular accounts offered by particular institutions.

[2] Access to Betterment's team of CFP® professionals available to Premium customers or through advice packages available for additional fee.

Betterment can help you save, spend, and invest better.

Betterment pushes the boundaries of financial advice by helping you earn more and spend wisely. We maximize your money in some key ways:

  • Combining human advice with smart technology

  • Eliminating all fees on short-term cash accounts

  • Spend quickly and safely with a tap-to-pay enabled debit card

  • $0 account minimums to help you invest today

Open an account

Betterment Can Help You Save, Spend, And Invest Better

Betterment pushes the boundaries of financial advice by helping you earn more and spend wisely. We maximize your money in some key ways:

  • Combining human advice with smart technology

  • Eliminating all fees on short-term cash accounts

  • Spend quickly and safely with a tap-to-pay enabled debit card

  • 0$ account minimums to help you invest today

Open an account

As seen in...

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