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Condor Capital Management's President opened accounts at more than a dozen robo-advisers with the goal of comparing the results. After one year, performance at eight of these firms show returns that vary from 10.75% with Charles Schwab down to 5.55% in Vanguard. SigFig and Betterment were about middle of the pack.
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The financial adviser, whose firm manages about $900 million in client assets, answered each digital adviser's questions with the same profile in mind, portending to be someone with a moderate risk tolerance, in a high tax bracket, who was looking to retire in 20 to 30 years. He sought similar investment portfolios, aiming for a mix of 60% equities and 40% fixed income.
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