Louie Helm is apparently something called a "Tech Entrepreneur"
I saw that e-mail! I’m super excited :D, I’ll be dropping more money into betterment
Great news. Any thoughts on how Schwab Intelligent Portfolios compares?
It looks promising, but it’s similar to Wealthfront in that the tax loss harvesting is reserved only for somewhat larger accounts ($50k+ for Schwab; $100k+ for Wealthfront).
It’s interesting how they’re passing it off as “no fee”. Waiving advisory fees, but corralling you into Schwab EFTs seems like an interesting trade. I assume Schwab’s EFTs have higher internal costs than the most efficient EFTs on the market or I would have heard of them before in the conversation that’s always ongoing about who can top the folks that continuously seek to undercut Vanguard on price. And if Schwab swaps your portfolio around with only their EFTs, it seems like they would have a way harder time achieving sound asset-class replacement if and when they did do tax loss harvesting for you.
I have a Schwab account too. So maybe one day I’ll sit down and figure out if opting into Schwab’s proprietary EFTs via this program is a good tradeoff to avoid annual advisory fees.
That jolly guy really seems excited by this.