Has anyone in the community tried this tool…if so, would you recommend it?
I haven’t used Vanguard Digital Advisor before, but am familiar with it and know a number of people who use it. It’s similar to other robo advisors (e.g., Betterment, Wealthfront, Schwab Intelligent Portfolios). It offers an okay user interface and can make building a portfolio and rebalancing simple. Here are some pros and cons from my perspective:
The main pro is that it’s slightly cheaper than most other Robo advisors.
The cons include that it has a relatively high initial minimum investment ($3,000) whereas most robo’s don’t have a minimum. It also doesn’t offer tax loss harvesting yet I believe.
Main takeaway: I personally don’t have much of a preference between robo advisors since they are so similar. The only one I don’t like is Schwab’s Intelligent Portfolios (due to misleading fees and high cash balances that led to a big fine from the SEC).