I agree with TFB on this:
http://thefinancebuff.com/schwab-intelligent-portfolios-the-true-cost-of-a-cash-drag.html
I guess. But it's not just the forced cash (which overlap with my bank account allocation). It's the forced commodities (which I don't want), and the use of fundamental funds (which I don't believe in, and have a 30+ bps ER). SO even if we accept that author's conclusion I still think SIP are crap. That's not to say I think betterment and wealthfront are any less crap and unnecessary.
Funny how this came out a week after I started moving my money from schwab to vanguard. Schwab has some ok funds, but it's just simpler and cheaper, especially bonds, at vanguard so I decided to take the tax hit now. This made me even more sure of my decision.
