Wealthfront vs. Vanguard Personal Advisor: 2024 Comparison
Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.
The investing information provided on this page is for educational purposes only. NerdWallet, Inc. does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments.
In the heated battle of robo-advisors vying to help you build a portfolio, Wealthfront and Vanguard Personal Advisor are among the top choices. Yet there are key differences — especially the minimum you need to open an account, the types of accounts supported and management fees.
Let's see how they stack up.
Wealthfront is best for:
Hands-off investors.
Taxable accounts.
Free financial tools, even if you don't have a Wealthfront account.
529 college savings plan management.
Both DIY and automated investing.
Wealthfront at a glance
Reviewed: Oct. 2023
Period considered: Aug. - Oct. 2023
Account minimum |
|
Account management fee | 0.25% for automated investing. No management fee or commissions for the stock investing account. |
Investment expense ratios | ETF expense ratios average 0.08%. Portfolios that include the Wealthfront Risk Parity Fund have an average expense ratio of 0.11%. |
Account fees (annual, transfer, closing) | None. |
Portfolio mix | Automated investment portfolios:
Wealthfront stock investing account:
|
Socially responsible portfolio options | Automated investing clients can choose to invest in Wealthfront’s SRI portfolio or customize any other Wealthfront portfolio to include socially responsible options for no additional fee. |
Accounts supported |
Note: Investing in individual stocks is only available through individual taxable accounts. |
Tax strategy |
|
Automatic rebalancing | Free on all accounts. |
Human advisor option | None. Licensed product specialists (have Series 7 & 66 and some are CFAs/CFPs/CPAs) are available to provide support or product information via phone or email, but they do not make recommendations or give advice. |
Savings account/cash management account | The Wealthfront Cash Account offers high interest checking. The cash account offers a competitive yield and is covered by up to $8 million in FDIC insurance. The account requires just $1 to get started. |
Customer support options (includes how easy it is to find key details on the website) | Phone support Monday through Friday 8 a.m. to 5 p.m. Pacific; and all emails are responded to within one business day. |
via Zoe Financial
Vanguard Personal Advisor is best for
Access to financial advisors.
Comprehensive financial planning.
Larger account balances.
Vanguard Personal Advisor at a glance
Reviewed: Oct. 2023
Period considered: Aug. - Oct. 2023
Account minimum | $50,000 |
Account management, planning or subscription fee | 0.35% for all-index investment options, or 0.4% if you choose a mix of actively managed and passive index fund strategies. |
Other account fees | None. |
Setup or onboarding fee | None. |
Advisor access and credentials |
|
Financial planning services | Can advise and create a custom portfolio for a variety of situations, such as saving for retirement, college or a family vacation home. Services include: Social Security optimization, dynamic spending, tax efficiency, long-term care and medical costs, high-level guidance on estate planning, charitable giving, Roth conversions and trust services. |
Investment expense ratios on portfolios | Average expense ratio is 0.06%. |
Portfolio construction | Vanguard PAS creates customizable portfolios on a client-by-client basis. It uses low-cost Vanguard index funds and ETFs, which are diversified with tight tracking. Vanguard PAS also offers three ESG funds (scored on environmental, social and governance factors for sustainable investing). |
Brokerage options | Clients must move money to Vanguard but can keep outside investments if there are embedded gains or other reasons to do so. |
Accounts supported |
Note: Personal Advisor will consider and provide guidance for other accounts types (e.g. 529s, UGMA, UTMA, non-Vanguard record-kept 401(k)s), but does not directly manage them. |
Tax strategy |
|
Customer support options (includes how easy it is to find key details on the website) | Customer support is available Monday through Friday, 8 a.m. to 8 p.m. Eastern time. Ability to schedule appointments with an advisor at any time. |
via Zoe Financial
Curious about other options?
The number of online advisors continues to swell, as does the range of services. NerdWallet conducted an in-depth analysis of over 20 offerings this year. » Read about our picks for the best robo-advisors
On a similar note...
