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Betterment vs Empower
Betterment is a great robo-advisor for beginners with low fees, good tools, and tax strategies. How does it compare to Empower? Read our comparison chart below.
Betterment offers automatic investing starting at $4/month for accounts with less than $20,000. There is no fee to open an account and no minimum deposit required. All balances get automatic rebalancing, tax loss harvesting, and access to financial experts.
While Empower offers free advanced financial tools and paid wealth management services.
Compare Betterment with Empower, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.
Digital: 0.25% annual fee for accounts with $20,000 or more or with monthly recurring deposits of $250 or more, $4/month for accounts with less than $20,000
Premium: 0.40% for accounts $100,000 or more
0.89% for first $1 million, 0.79% for first $3 million, next $2 million 0.69%, next $5 million, 0.59%, and 0.49% over $10 million
Minimum Deposit
$0
$100,000
Checking
No-Fee Checking
Phone Support
Yes
Yes
Live Chat Support
No
No
Email Support
Yes
Yes
Human Advisors
Yes ($100k minimum)
Yes
Robo Advisor
Assets Under Management
$40+ Billion
$1.2 trillion
Tax Loss Harvesting
Yes
Yes
Goal Tracker
Yes
Yes
Automatic Deposits
Yes
Yes
Online Platform
Yes
Yes
iPhone App
Yes
Yes
Android App
Yes
Yes
Mobile App
Yes
Yes
Investment Tracking
Single Stock Diversification
No
Yes
Fractional Shares
Yes
No
Taxable Accounts
Yes
Yes
401k Plans
Yes
Yes
IRA Accounts
Yes
Yes
Roth IRA Accounts
Yes
Yes
SEP IRA Accounts
Yes
Yes
Trust Accounts
Yes
Yes
529 Plans
No
Yes
CreditDonkey® Reviews
Annual Fee
Minimum Deposit
Human Advisors
Customer Service
Robo Advisor
Price
Goal Tracker
Budgeting
Ease of Use
Investment Tracking
Retirement Planning
Pros & Cons
Pros:
No minimum investment
Customized portfolios
Automatically invest extra funds
Cons:
Limited investment options
High fees for large investors
Pros:
Retirement planner
Free portfolio advice
Robo plus human advisors
Cons:
$100,000 min for advisory service
Higher fees than competitors
Bottom Line
Great robo-advisor for beginners with low fees, good tools, and tax strategies... Read full review
Free advanced tools plus hybrid advisory service for people with over $100k in investments... Read full review
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Betterment: Pricing information from published website as of 04/04/2018
Empower: Pricing information from published website as of 04/30/2020
Empower: Empower Personal Wealth, LLC (“EPW”) compensates CREDITDONKEY INC for new leads. CREDITDONKEY INC is not an investment client of Personal Capital Advisors Corporation or Empower Advisory Group, LLC.
Funds placed in the Empower Personal Cash Program are FDIC insured by program banks up to an aggregate of $5,000,000. (up to $10 million for joint accounts)
Betterment offers low fees, no minimum balance and good returns. But is it a good idea? Find out if it's safe to invest your money with this robo-advisor.
Quicken is the oldest name in personal finance software, while Empower is newer and offers advanced tools for free. Read on to see if it's a good alternative to Quicken.
Robo advisors make it possible for new investors to start investing. But they come with a fee. Are they worth it? Read on to learn about the pros and cons.