Company Rating
Recommendation
Fee AUM
Additional details
8.58
Be first
0%
> $43 Mln
Promotions: None
Free under $10k and SoFi Borrowers; 0.25%/year
Commission & Fees
9.5
Customer Service
9
Ease of Use
9.5
Tools & Resources
8
Investment Options
7.5
Asset Allocation
8
SoFi

SoFi Wealth is a modern robo investing service with a wide range of tools and a financial advisor option. Opening an account is completely free of charge for SoFi borrowers or when creating an investment portfolio below $ 10,000. The service is highly specialized and offers a solution to financial goals. The option of tax loss harvesting is not provided.

  • Accounts Available: Taxable, Traditional IRA, SEP IRA, Joint, Rollover IRA, Roth IRA
  • 401(k) Assistance: No
  • Human Advice: Yes
  • Tax Loss Harvesting: No
  • Fractional Shares: Yes
  • Automatic Deposits: Yes
8.67
Be first
0%
> $100 Mln
Invest for FREE
Commission & Fees
10
Customer Service
7
Ease of Use
9
Tools & Resources
7.5
Investment Options
9.5
Asset Allocation
9
M1 Finance

M1 Finance is a hybrid service that offers a set of popular brokerage investment accounts and the possibility of using robo consultants. The system offers universal investment tools for generating profit and economic strategy. Users should take into account the absence of tax-loss harvesting and mutual funds investment. Also, M1 Finance has a wide range of settings for the formation of investment portfolios.

  • Accounts Available: Taxable, Traditional IRA, SEP IRA, Joint, Rollover IRA, Trusts, Roth IRA
  • 401(k) Assistance: No
  • Human Advice: No
  • Tax Loss Harvesting: No
  • Fractional Shares: Yes
  • Automatic Deposits: Yes
8.5
Be first
0%
> $30 Bln
Promotions: None
Commission & Fees
10
Customer Service
10
Ease of Use
9
Tools & Resources
9
Investment Options
5
Asset Allocation
8
Charles Schwab

Schwab Intelligent Portfolios is a complete solution for automated investment. Robo consultant Charles Schwab offers advanced portfolio and asset management. The system of intellectual distribution of investments allows you to manage your own money at the level of a professional investor.

  • Accounts Available: Taxable, Traditional IRA, SEP IRA, Joint, Rollover IRA, SIMPLE IRA, Trusts, Roth IRA, Custodial
  • 401(k) Assistance: No
  • Human Advice: No
  • Tax Loss Harvesting: Yes — Available for accounts larger than $50,000
  • Fractional Shares: No
  • Automatic Deposits: Yes
7.75
Be first
0%
> $150 Mln
Promotions: None
Free
Commission & Fees
9.5
Customer Service
7.5
Ease of Use
7
Tools & Resources
6.5
Investment Options
8
Asset Allocation
8
WiseBanyan

WiseBanyan is a completely free service for the basic needs of investors. Robo Consultant
offers a low deposit limit and a fully automatic distribution and rebalancing of portfolios.
However, users need a premium account to open an IRA. The service is very friendly to
beginners and offers a step by step guide..

  • Accounts Available: Taxable, Traditional IRA, SEP IRA, Rollover IRA, Roth IRA
  • 401(k) Assistance: No
  • Human Advice: No
  • Tax Loss Harvesting: Yes
  • Fractional Shares: Yes
  • Automatic Deposits: Yes
7.92
Be first
0%
> $3 Bln
Get the First Month Free
Fix price | Free analysis | $10 per month
Commission & Fees
9.5
Customer Service
8.5
Ease of Use
9.5
Tools & Resources
6
Investment Options
6
Asset Allocation
8
Blooom

Blooom is an affordable robo advisor that offers a wide range of functionality and a low fee of $ 10 per month. Work happens with any online recording. An advanced 401 (k) plan helps you make the right investment and get the most out of it. Many processes are fully automated. The disadvantages include the ability to manage limited plans, such as TSP, 457 and 401 (a) / 403 (b).

  • Accounts Available:
  • 401(k) Assistance: Yes
  • Human Advice: No
  • Tax Loss Harvesting: No
  • Fractional Shares: Yes
  • Automatic Deposits: Yes
6.83
Be first
0%
> $210 Mln
Promotions: None
0% (First $10k); 0.25%/year ($10k+); 0.50% (Diversified Income Portfolio)
Commission & Fees
7
Customer Service
6.5
Ease of Use
7
Tools & Resources
7.5
Investment Options
6
Asset Allocation
7
SigFig

SigFig is a universal service with the ability to use the services of a robo consultant. The system offers personal asset management and a free set of Portfolio Tracker options. The service is convenient for a basic amount of investors, but offers simple recommendations. The functionality of the robo consultant has several limitations.

  • Accounts Available: Taxable, Traditional IRA, SEP IRA, Joint, Rollover IRA, SIMPLE IRA, Roth IRA
  • 401(k) Assistance: No
  • Human Advice: No
  • Tax Loss Harvesting: Yes — Minimum account balance of $10,000.
  • Fractional Shares: No
  • Automatic Deposits: Yes
7.25
Be first
0%
N/A
Try For Free
$14.95/month; $149.95/year for the DIY Service
Commission & Fees
6
Customer Service
8
Ease of Use
7
Tools & Resources
7
Investment Options
7.5
Asset Allocation
8
MarketRiders

MarketRiders is a technology platform aimed at the US market. An automatic robo advisor helps with retirement portfolios, special financial advice and helps select an investment channel. One of the benefits is the DIY consultation. Availability Managed Service helps to manage portfolios and diversify investment risks. Thus you can increase the expected profit.

  • Accounts Available: Taxable, Traditional IRA, Joint, Rollover IRA, Trusts, Roth IRA
  • 401(k) Assistance: No
  • Human Advice: No
  • Tax Loss Harvesting: No
  • Fractional Shares: No
  • Automatic Deposits: No
8.67
Be first
0.25%
> $11 Bln
$5k Managed for Free
0.25%/year
Commission & Fees
9
Customer Service
9
Ease of Use
8
Tools & Resources
8.5
Investment Options
8.5
Asset Allocation
9
Wealthfront

Wealthfront is an advanced robo-advisor that offers extensive automated investment opportunities, low commissions and a free account service up to $ 5K. Thanks to Wealthfront you can organize retirement savings. It has many presets and tools for achieving various financial goals, such as daily tax-loss harvesting, financial and college planning, direct indexing etc. This robo-advisor provides fully automatic ETF investments and can reassess your asset allocation in case of risk profile changes.

  • Accounts Available: Taxable, Traditional IRA, SEP IRA, Joint, Rollover IRA, Trusts, Non-Profit, Roth IRA, 529
  • 401(k) Assistance: No
  • Human Advice: No
  • Tax Loss Harvesting: Yes — All Taxable Accounts
  • Fractional Shares: No
  • Automatic Deposits: Yes
8.83
Be first
0.25%
> $14 Bln
Up To 1 Year Free
Digital – 0.25%/year ($0); Premium – 0.40%/year ($100k)
Commission & Fees
8.5
Customer Service
9
Ease of Use
9
Tools & Resources
9
Investment Options
9
Asset Allocation
8.5
Betterment

Betterment is a universal robo consultant who helps newcomers to the world of investing. A distinctive feature is the absence of a minimum deposit and a low-interest rate (only 0.25% per annum). The company also has real-life consultants who can solve all problems with a retirement account. The only nuance of the platform is the lack of REITs or commodities.

  • Accounts Available: Taxable, Traditional IRA, SEP IRA, Joint, Rollover IRA, Trusts, Non-Profit, Roth IRA
  • 401(k) Assistance: Yes
  • Human Advice: Yes
  • Tax Loss Harvesting: Yes
  • Fractional Shares: Yes
  • Automatic Deposits: Yes
7.5
Be first
0.25%
> $91 Mln
Get up to $750 Cash Back
0.25%/year ($0); Premium - 0.50%/year ($50k+)
Commission & Fees
8
Customer Service
8.5
Ease of Use
7
Tools & Resources
6
Investment Options
8
Asset Allocation
7.5
Ellevest

Ellevest is focused on providing robo consultants and investment services for women. The program analyzes the needs of a particular woman and offers the appropriate set of services. Robo consultant takes into account the specific needs of users, according to a special algorithm. Should women use Ellevest or find an alternative? The decision is in their hands.

  • Accounts Available: Taxable, Traditional IRA, Roth IRA
  • 401(k) Assistance: Yes
  • Human Advice: Yes
  • Tax Loss Harvesting: No
  • Fractional Shares: Yes
  • Automatic Deposits: Yes

How to choose the right robo advisor

GENERAL FILTERS

Basic Management fee for users

The vast majority of robo advisors include fees for their services. The final size may depend on the amount managed. In general, the amount does not exceed 1% of the fee to a real consultant. That is why robo consultants are becoming so popular. Some advisers have a real staff of consultants and provide an expanded range of services. This list includes various economic instruments, financial professionals and a number of specialized options.

Advance payments are not the only expenses. The management of funds and ETFs also requires a commission. Such a format is still acceptable, since it is approximately equal to the sum of costs for self-monitoring of its portfolio.

Some advisors have additional payments. The system uses cash allocations and pays a minimum percentage for the provision of cash.

Some advisers do not include hidden costs from the use of taxable accounts. Such moments should be considered before the final selection of the robot advisor. Some offers may have limited functionality.

Minimum initial deposit

This is a basic investment. By depositing the required amount to the account, you can count on maintaining accounts.

Single stock diversification

This is one of the important functions for those who use single stock. The service helps to level the effects of volatility and includes averaging of the final cost. Thanks to this format, investors can secure their portfolio and resolve all technical issues. A detailed analysis of all proposals is critical to the final selection. All options have their pros and cons. That is why a thorough analysis of all criteria forms the final vision of the finished product.

Direct indexing for everyone

This option fully corresponds to its name. This is a direct purchase of assets and securities. This is a more effective option for cooperation. Unlike ETFs, each user can reduce tax expenses. Clients also have no need to pay for managing index funds. But do not forget about the commission robo advisers.

Tax loss harvesting option

Tax loss harvesting is a very useful option. Thanks to this moment, you can automatically replace unprofitable positions in order to increase profitability and diversify risks. In general, a robo advisor with such functions can save up to three thousand US dollars per year. The final efficiency depends on how advanced Tax Loss algorithm is used by the advisor.

Automated tax loss harvesting allows you to consolidate the maximum profit and reduce operational costs for most users. Users with 0% capital gains may not appreciate this option. Taxable accounts users can count on the greatest benefit from this option.

Fractional Shares function

This option helps to buy parts of stocks, in the case when finances are not enough to buy one share. This is the best option for investors who seek to use all the savings and get the maximum profit on the residual account. Choose only those options that are extremely important in each case. The pursuit of low commissions is not always relevant. The same rule applies in the opposite direction. There is no need to complicate the process of selecting the most affordable option. The best functionality and extended warranties should be the main argument in the selection.

Human advisors opportunities

Most advisers on the market use a 100% machine algorithm. However, there are also combined solutions. This is the format when part of the councils is formed by real advisors. The main criterion for consideration is the availability of automatic rebalancing and an online menu for monitoring status. Even the availability of services from real advisors allows you to consider such a proposal in the context of robo services.

The choice of the final option depends on the required goals and the management of each client. It is worth noting that the size of the investment also affects the choice. It is necessary to study in detail all possible details and choose the most appropriate option. There are no truly universal solutions quite a bit. The most common is the choice of averages for further use.