Best Robo-Advisors

September 17th, 2019

Advertiser Disclosure

Overview

If you’ve always wanted to invest but felt the time and research necessary to do so was too overwhelming, you may want to get a robo-advisor. Robo-advisors provide a relatively low-cost and “hands-off” solution to investing.

Before choosing a robo-advisor, you'll want to compare key details like fees, account minimums, and what funds and additional services are offered. Fortunately for you, we've done all the research, sorted through the details, and have created a comparison tool of the best robo-advisors available.

Best For:

Low Cost Investing

Ally Invest Managed Portfolios Logo

Annual Fee

0.00%

management fee

Account Minimum

Special Promotion

None

no promotion available at this time

The Bottom Line

Ally Invest Managed Portfolios provides 24/7 customer service, easy-to-use tools, and has 0% advisory fees. Allowing you to get started with just $100, Ally invests your funds in ETF's with low fees and provides an easy account setup for existing Ally customers. Ally is also one of the only robo-advisors that allows you to invest your money directly into an S&P 500 index fund.

Best For:

Low Fees

Betterment Logo

Annual Fee

0.25%

management fee

Account Minimum

Special Promotion

Up to 1 year

of free management when you refer 3 friends

The Bottom Line

Betterment is the largest robo-advisor. Providing low annual fees, an account minimum of $0, and additional services like tax-loss harvesting, Betterment attracts all types of investors. You won't be able to invest directly into index funds though.

Best For:

Analyzing Your 401k

Blooom Logo

Annual Fee

$120

per year

Account Minimum

Special Promotion

Free 401k Analysis!

Blooom will analyze the health of your 401k for free

Special Pricing:

Get blooom for a special rate of $99 per year using our "Open Account" link and code REEETIRE

The Bottom Line

Blooom offers a completely free analysis of your 401k to uncover any hidden fees you are paying and determine if your investments are too conservative or aggressive based on a survey you fill out. After your analysis, you will be given the option to have blooom make the recommended changes for you and manage/monitor your account for a low flat fee. Blooom can analyze and manage almost any employer-sponsored retirement account including a 401k, 403b, 401a, 457 or TSP; but do not support IRAs at this time. Blooom is also a subscription-based service and does not make money off the funds in your account.

Best For:

Socially Responsible Investing

Ellevest Logo

Annual Fee

0.25%

management fee

Account Minimum

Special Promotion

None

no promotion available at this time

The Bottom Line

Ellevest uniquely combines low annual fees and investing with a purpose. While providing tailored investing plans for women, Ellevest also provides the opportunity for anyone to invest in companies that create positive changes in the world. Ellevest is also offering Whyze users $50 just for opening an account!

Best For:

Financial Advice/Planning

Schwab Intelligent Portfolios Logo

Annual Fee

0.00%

management fee

Account Minimum

Special Promotion

None

no promotion available at this time

The Bottom Line

Schwab Intelligent Portfolios is a good option for those who can meet the high account minimum and desire access to financial planners and online advice. Schwab Intelligent Portfolios also offers a large selection of funds (53). If you decide you want the Premium option, it will come with a $300 initial planning fee and a $30/month charge.

Best For:

Low Fees

Wealthfront Logo

Annual Fee

0.25%

management fee

Account Minimum

Special Promotion

None

no promotion available at this time

The Bottom Line

Wealthfront provides low annual fees, an account minimum of $500, and additional services like tax-loss harvesting for all accounts. This allows Wealthfront to attract all types of investors. You won't be able to invest directly into index funds though unless your account is above $100,000.

Best For:

Unique Portfolio Options

Wealthsimple Logo

Annual Fee

0.50%

management fee

Account Minimum

Special Promotion

None

no promotion available at this time

Special Pricing:

0.40% with Wealthsimple Invest (min $100k+ balance)

The Bottom Line

Wealthsimple offers unique portfolio options such as socially responsible and halal-compliant options. While the annual fee is slightly higher than its competitors, Wealthsimple offers an account minimum of $0, tax-loss harvesting, and free financial advice.