Which do you use for your investments? What are the benefits for each of them? Are there any cons you would advise against?
Wealthfront’s main selling point is to it keeps you from doing stupid stuff during times of stress. Fewer degrees of freedom is usually a good thing for investors
Betterment
I agree
Vanguard, Fidelity, Schwab, Wealthfront are all good. Stay away from Robinhood. Edit: There are two things about Robinhood that I personally think are very unethical. 1. Robinhood encourages active trading. The reality is amateurs can't beat the market. They always underperform index funds in the long term. There is the old trick that brokers encourage people to trade actively to charge more commissions. For Robinhood, it's margin interests instead of commissions. 2. Robinhood sells its users' orders to high-frequency traders. I know other brokers are probably doing the same, but Robinhood appears to the most aggressive. Also, there are brokers who don't sell orders, e.g. Vanguard, Interactive Brokers, etc. In Robinhood's business model, the users are the product, and the HFT shops are the buyers. More reading on this if you are interested: https://seekingalpha.com/article/4205379-robinhood-is-making-millions-selling-out-millennial-customers-to-high-frequency-traders
Why?
There is no reason not to use robinhood. It’s a self-service brokerage. Wealthfront is just as sketchy
Chase You Invest Don’t judge
Cool with me
Bank - Non-Retirement(NR) 20% Betterment - NR 40% + IRA 50% Tradestation - NR 40% + IRA 50% - Mix of Stocks, Options and Futures Fidelity - 401k(No choice because of employer matching but rollover to IRA with every new job)
Robinhood is for kids
I use all three. That option is missing in the poll. Robinhood for play money in individual stocks and risky bets. Vanguard for low cost ratio index funds. Wealthfront for making sure I invest money every month and don't spend on stuff I would regret later. You can use betterment instead of wealthfront if you prefer that.
American Century Investments - savings Schwab - 401k Vanguard - 401k E-Trade - savings Fidelity - IRA
What makes fidelity good for IRA?
That was from my previous employer and I never changed it.
Wealthfront for primary investments, Robinhood for fun and experiments only with 1-2% of net worth.
Why? TD is free too and exponentially better
Not much. A lot less than 10 per trade both ways they used to
Wealthfront + Robinhood
This. And physical/collectible gold and silver