This post is was originally published on Investor Junkie

Here’s a breakdown of the best robo advisors currently in the investing space and how they stack up against each other. We’ve thoroughly reviewed and tested each robo advisor service listed below.

Thanks to the rise in popularity of robo advisors, investing for the future is now more accessible than ever. You don’t have to go it alone, be wealthy, have a lot of investment knowledge or even hire an expensive financial advisor to create a decent asset allocation. Why? Because robo advisors now have the technology to do all of this for you — and at a low annual fee to boot.

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Rank Product Min. Investment / Fees Rating
1

MINIMUM INVESTMENT: $500

FEES: First $10k managed free; 0.25%/year for $10k+

Rating: 9.5/10

  • Commission & Fees 9/10
  • Customer Service 9/10
  • Ease of Use 8/10
  • Tools & Resources 9/10
  • Investment Options 8.5/10
  • Asset Allocation 9/10

Wealthfront is a robo advisor that emphasizes low fees and automated investing. The service shines when you have a taxable account, and the service is free for accounts under $10k. The negative is it doesn’t support fractional shares.

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2

MINIMUM INVESTMENT: $0

FEES: Digital – 0.25%/year; Premium – 0.40%/year

Rating: 9/10

  • Commission & Fees 8/10
  • Customer Service 9/10
  • Ease of Use 9/10
  • Tools & Resources 9/10
  • Investment Options 9/10
  • Asset Allocation 8.5/10

Betterment is a good starting point for beginner investors. The robo advisor has no minimum deposit and costs 0.25% annually. If you need the assistance, it recently added human advisors, which can assist with your retirement account. Unfortunately, its asset allocation excludes REITs or commodities.

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3

Promo: None

MINIMUM INVESTMENT: $1

FEES: None — Basic services are free

Rating: 8.5/10

  • Commission & Fees 10/10
  • Customer Service 7.5/10
  • Ease of Use 7/10
  • Tools & Resources 6.5/10
  • Investment Options 8/10
  • Asset Allocation 8/10

WiseBanyan is a free robo advisor service with no hidden charges. The base service includes automatic portfolio rebalancing and low minimum deposit. From our testing, they are the cheapest service in their category. On the downside, we question if their business model is sustainable.

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4

MINIMUM INVESTMENT: $0

FEES: None

Rating: 8.5/10

  • Commission & Fees 10/10
  • Customer Service 7/10
  • Ease of Use 9/10
  • Tools & Resources 7.5/10
  • Investment Options 9.5/10
  • Asset Allocation 9/10

Combining the best of both traditional investment brokerage accounts and robo advisors, M1 Finance is dangerously close to being the perfect all-around investment platform. The only significant negatives are that it does not offer tax-loss harvesting or investment in mutual funds.

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5

Promo: None

MINIMUM INVESTMENT: $100

FEES: Free under $10k and SoFi Borrowers; 0.25%/year

Rating: 8.5/10

  • Commission & Fees 9.5/10
  • Customer Service 9/10
  • Ease of Use 9.5/10
  • Tools & Resources 8/10
  • Investment Options 7.5/10
  • Asset Allocation 8/10

SoFi Wealth Management is an investment management service that combines robo investing with access to a human financial advisor. Accounts are free for SoFi borrowers and those with a portfolio below $10,000. SoFi Wealth Management focuses only on index fund investments to meet your financial goals, and you won’t find tax loss harvesting.

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6

Promo: None

MINIMUM INVESTMENT: $5,000

FEES: None

Rating: 8.5/10

  • Commission & Fees 10/10
  • Customer Service 10/10
  • Ease of Use 9/10
  • Tools & Resources 9/10
  • Investment Options 5/10
  • Asset Allocation 8/10

Schwab Intelligent Portfolios is Charles Schwab’s robo-investing service. Like other robo advisors, it provides professional investment management for your portfolio for a minimum investment ($5,000). But what makes Schwab Intelligent Portfolios unique in the industry — and particularly among large brokerage firms — is that Schwab offers the service without charging fees. And with Schwab’s family of financial services, it’s a one-stop shop: You can have some of your portfolio professionally managed through Schwab Intelligent Portfolios while being free to take advantage of all of the other benefits that Schwab offers.

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7

MINIMUM INVESTMENT: $0

FEES: Under $5k – FREE; $5k-$100k – 0.50%/year; $100k+ – 0.40%/year

Rating: 8/10

  • Commission & Fees 7/10
  • Customer Service 8/10
  • Ease of Use 8.5/10
  • Tools & Resources 8/10
  • Investment Options 8/10
  • Asset Allocation 8/10

Wealthsimple is a solid addition to the current slate of robo advisors available. The service offers a socially responsible investment option, as well as assistance from a live representative. However, compared to other firms their fees are on the high side.

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8

Promo: None

MINIMUM INVESTMENT: $50,000

FEES: 0.30%/year

Rating: 8/10

  • Commission & Fees 8.5/10
  • Customer Service 7.5/10
  • Ease of Use 7/10
  • Tools & Resources 6.5/10
  • Investment Options 9.5/10
  • Asset Allocation 8/10

A solid entry into the robo advisor space, Vanguard Personal Advisor Services is backed by the trusted Vanguard brand and features real, live human advisors you can call. Unfortunately, the service requires a hefty $50k deposit, which excludes many beginning investors.

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9

Promo: None

MINIMUM INVESTMENT: $5,000

FEES: 0.45%/year

Rating: 8/10

  • Commission & Fees 6/10
  • Customer Service 8.5/10
  • Ease of Use 8/10
  • Tools & Resources 10/10
  • Investment Options 8/10
  • Asset Allocation 8/10

MEGI is a robo advisor that combines automated investing with active management of your portfolio. It invests your money in index-based ETFs, but it actively manages your portfolio allocation. This gives you an opportunity to both outperform the market and minimize losses in a downturn. The major negative is that the management fee is higher than those of most other robo advisors. But the active management component may very well justify the higher fee.

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10

MINIMUM INVESTMENT: $0

FEES: $10/month

Rating: 8/10

  • Commission & Fees 9.5/10
  • Customer Service 8.5/10
  • Ease of Use 9.5/10
  • Tools & Resources 6/10
  • Investment Options 6/10
  • Asset Allocation 8/10

Blooom helps manage the complicated task of picking the right mutual funds for your 401(k) plan. It’s easy to use and can work with any account that has online access. Plus, it’s very low cost — just $10 per month. On the downside, only 401(k) and 403(b) plans can be managed.

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11

Promo: None

MINIMUM INVESTMENT: $1

FEES: 0.30% – 0.75%/year — Depends upon amount deposited

Rating: 7.5/10

  • Commission & Fees 6.5/10
  • Customer Service 7.5/10
  • Ease of Use 7.5/10
  • Tools & Resources 6.5/10
  • Investment Options 9/10
  • Asset Allocation 8/10

Hedgeable lets everyday investors take advantage of the “insider” techniques of the biggest hedge funds. It offers one of the industry’s most diverse portfolio, and there’s no required account minimum. However, on the downside, Hedgeable’s fees are a bit on the steep side.

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12

Promo: None

MINIMUM INVESTMENT: $5,000

FEES: Retirement – 0.35%/year; Taxable – 0.35-0.40%/year

Rating: 7.5/10

  • Commission & Fees 7.5/10
  • Customer Service 8.5/10
  • Ease of Use 8/10
  • Tools & Resources 7/10
  • Investment Options 7/10
  • Asset Allocation 7/10

Fidelity Go is Fidelity’s entry into the robo advisor space. Its pricing is very transparent, and if you have an existing account, it might be a service for your one-stop shopping. However, the service lacks some of the features that more established robo advisors already offer.

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13

Promo: None

MINIMUM INVESTMENT: $5,000

FEES: 0.30%/year

Rating: 7.5/10

  • Commission & Fees 7/10
  • Customer Service 9/10
  • Ease of Use 7/10
  • Tools & Resources 7/10
  • Investment Options 7/10
  • Asset Allocation 8/10

E*TRADE Adaptive Portfolio offers a robo advisor service at a reasonable cost. If you are an existing E*TRADE customer and are considering an automated investment service, you may want to use Adaptive Portfolio. Unfortunately, you need at least $5,000, and it doesn’t offer tax-loss harvesting.

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14

Promo: None

MINIMUM INVESTMENT: $0

FEES: 0.25%/year; Premium – 0.50%/year

Rating: 7.5/10

  • Commission & Fees 10/10
  • Customer Service 8.5/10
  • Ease of Use 7/10
  • Tools & Resources 6/10
  • Investment Options 8/10
  • Asset Allocation 7.5/10

Ellevest is a robo advisor investing platform that targets women specifically. It can offer custom plans that are tailored to the needs of women. A good argument can be made for the necessity for taking women’s particular situations into accounts. After all, they tend to live longer yet earn less. However, is a completely separate robo advisor really needed? We’ll let you be the judge after reading our review.

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15

Promo: None

MINIMUM INVESTMENT: $10,000

FEES: 0.50%/year

Rating: 7/10

  • Commission & Fees 6/10
  • Customer Service 8/10
  • Ease of Use 8.5/10
  • Tools & Resources 8/10
  • Investment Options 7.5/10
  • Asset Allocation 8/10

FutureAdvisor lets you test-drive its service for free and is one of the few robo advisors that can manage your 529 college savings plan. However, the bad news is the service’s fees are higher than those of most of its competition.

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16

Promo: None

MINIMUM INVESTMENT: $5,000

FEES: 0.30%/year

Rating: 7/10

  • Commission & Fees 7/10
  • Customer Service 8/10
  • Ease of Use 7/10
  • Tools & Resources 7.5/10
  • Investment Options 7/10
  • Asset Allocation 7/10

With TD Ameritrade’s robo advisor, you can take advantage of having at least some of your portfolio professionally managed while you maintain other self-directed investments. The advisory fee is reasonable, and the company offers local branches as a point of contact. However, details of the service’s asset allocation remain cloudy.

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17

Promo: None

MINIMUM INVESTMENT: $2,000

FEES: First $10k managed free; 0.25%/year for $10k+; 0.50% for Diversified Income Portfolio

Rating: 7/10

  • Commission & Fees 7/10
  • Customer Service 6.5/10
  • Ease of Use 7/10
  • Tools & Resources 7/10
  • Investment Options 6/10
  • Asset Allocation 7/10

SigFig is a robo advisor service that offers asset management, diversified income, and portfolio tracking. Altogether, SigFig itself isn’t a bad service, and its Portfolio Tracker is free. But the recommendations it makes seem simple at best. There are other robo advisors available with more functionality.

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18

Promo: None

MINIMUM INVESTMENT: $1,000

FEES: $14.95/month; $149.95/year for the DIY Service

Rating: 7/10

  • Commission & Fees 6/10
  • Customer Service 8/10
  • Ease of Use 7/10
  • Tools & Resources 7/10
  • Investment Options 7.5/10
  • Asset Allocation 8/10

MarketRiders’ aim is to help Americans manage their retirement portfolios more effectively by providing DIY investment advice. But with the addition of the Managed Service, MarketRiders has the capability to be a full-on robo advisor for those who want assisted portfolio management.

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19

Promo: None

MINIMUM INVESTMENT: $50

FEES: 0.75% per year

Rating: 7/10

  • Commission & Fees 6/10
  • Customer Service 7/10
  • Ease of Use 9.5/10
  • Tools & Resources 7/10
  • Investment Options 6/10
  • Asset Allocation 6/10

Swell Investing was created to help users invest in socially responsible stocks. These include investments in alternative energy, clean water and healthy living. Swell requires a minimum investment of only $50, which makes it appealing and accessible to new and younger investors. On the downside, Swell’s management fee runs a bit steep, and the service lacks some features of other robo advisors such as tax-loss harvesting.

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20

Promo: None

MINIMUM INVESTMENT: $100,000

FEES: $250 Setup Fee; 0.50%/year

Rating: 6/10

  • Commission & Fees 6/10
  • Customer Service 8/10
  • Ease of Use 6/10
  • Tools & Resources 6/10
  • Investment Options 6/10
  • Asset Allocation 7/10

Rebalance IRA provides insight into your portfolio and helps you make better decisions by not letting emotions get in the way and selling too often. It also helps you determine the right asset allocation. However, Rebalance IRA is good only for investors who have portfolios of $100,000 or more.

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Robo advisors, sometimes also known as automated online advisors, are technology-based investment platforms that offer fully automated online investing. These financial technology firms (fintech) are springing up quickly and mostly target new and younger investors (such as Millennials). But which ones are the best choice for your investment preferences and risk? What features do they have in common and how do they compare to each other?

If you aren’t sure what exactly is a robo advisor, we have an overview article. We’ve also researched the true annual costs of the most popular robo advisors. Lastly, we have created a comparison cheat sheet to list all of the robo advisors feature by feature.

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