Comparing robo-advisors: Goldman, Vanguard, Schwab and Merrill
Written by the SCA Team and published in Advisor Perspective.
In addition to the robo-advisors discussed in Part I and Part II of our series, traditional investment companies, including Goldman Sachs, Vanguard, Schwab, and Merrill have developed their own robo-advisory services. These services allow companies to attract clients earlier in the investment process, as they are typically targeted toward younger investors and people with smaller accounts. The companies may then build a rapport with these investors before they are able to meet the minimums for full-service advising.
Given these companies’ longstanding successes and reputations, their robo-advisory programs are trustworthy options for someone looking to start saving for their retirement in a hands-off, low-cost way. If you or a family member already have an account with one of these firms, that could be a good reason to start your own account and try out their robo.