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8 Best Robo-Advisors

Jodie Price

By Jodie Price | Updated October 3, 2025

Automated investing through robo-advisors makes it easier to stay invested by using technology to manage portfolios based on your goals and risk tolerance. Top platforms offer low fees, goal-based planning, and flexible features to help you grow wealth, save for retirement, or start small. With many strong options available, you can choose the robo-advisor that best aligns with your financial priorities.

  • Fidelity Go

    Labeled as the “Best Robo-Advisor for Beginner Investors,” Fidelity Go offers a low entry point with just a $10 account minimum. There are no advisory fees until your balance reaches $25,000, making it a cost-effective option for new investors looking to start small. This setup makes it easy to begin investing without high upfront costs.

    Expert’s Take

    Fidelity Go stands out for its simplicity and accessibility, making it easy for new investors to get started without feeling overwhelmed. It offers various investment options and expert-managed portfolios, ensuring users feel confident their money is handled well.

    Another strength is the availability of unlimited one-on-one coaching calls, which adds a personal touch often missing from robo-advisors. This feature is useful for those who want to learn while investing or need additional guidance.

    On the downside, Fidelity Go does not offer tax-loss harvesting or advanced customization tools that other platforms provide. This makes it less appealing for more experienced investors seeking to optimize tax strategies or tailor portfolios beyond the standard approach.

    Pros & Cons

    Pros

    • Low $10 minimum to open an account
    • No fund expense ratios with Fidelity Flex funds
    • Clear, flat advisory fee once balance exceeds $25,000
    • Backed by Fidelity’s strong reputation and resources
    • Simple, user-friendly setup and account management

    Cons

    • No tax-loss harvesting tools
    • Limited customization of investment portfolios
    • Advisory fee (0.35%) applies once balance reaches $25,000
    • Fewer advanced features compared to some competitors

    Details

    Fidelity Go builds a portfolio for you based on your goals, risk tolerance, and financial situation, using Fidelity Flex mutual funds that carry no expense ratios. These funds typically include a mix of U.S. and international stocks, bonds, and short-term investments.

    The platform manages all the daily investing for you, providing regular updates on your portfolio’s performance. Once a year, you’ll also have the chance to review your account and adjust your preferences if needed.

    Beyond investment management, Fidelity Go offers unlimited 30-minute coaching sessions with financial professionals. These sessions can cover a wide range of topics, including retirement planning, budgeting, debt reduction, and other personal finance goals.

  • E*TRADE Core Portfolios

    Named the “Best Robo-Advisor for Portfolio Customization,” E*TRADE Core Portfolios charges a 0.30% annual advisory fee and requires a $500 minimum to open an account. It balances automation with customization, giving you more control than many robo-advisors. This is a great option if you’re looking for affordability and customization in your investments.

    Expert’s Take

    E*TRADE Core Portfolios is designed for investors who want a hands-off approach to day-to-day management but still value the ability to personalize their portfolio. It strikes a balance between automation and customization, giving users flexibility while ensuring their investments are guided by professional oversight.

    Another strength is its strong customer support and clear portfolio reporting tools. The platform provides regular updates and insights, while the mobile app makes it easy to monitor progress and stay on top of investment activity from anywhere.

    This robo-advisor works especially well for investors who want to customize their strategy without losing the convenience of automated management. It attracts both new investors and those wanting more control over their long-term strategy by combining personalized service with strong support.

    Pros & Cons

    Pros

    • Low $500 minimum to start
    • Clear 0.30% annual advisory fee
    • Automatic rebalancing of portfolios
    • Easy integration with E*TRADE brokerage accounts
    • User-friendly platform

    Cons

    • No tax-loss harvesting
    • Limited customization of portfolios
    • Fewer advanced features than some competitors
    • Not the lowest-cost robo-advisor available

    Details

    E*TRADE Core Portfolios is made accessible for newer investors. Portfolios are built from diversified ETFs based on your goals and risk tolerance, with options to adjust for socially responsible or higher-risk strategies. Accounts include individual, joint, and retirement accounts, though tax-loss harvesting is not available.

    The robo-advisor automatically monitors and rebalances portfolios, ensuring allocations stay on track. Investors also receive regular updates, market commentary, and insights, which can be helpful for staying informed without active management.

    You can make changes anytime through the dashboard or app and reach out to a dedicated support team if needed. Core Portfolios is best suited for hands-off savers, new investors, or E*TRADE brokerage users who want a simple, integrated investing solution.

  • Merrill Guided Investing

    Named the “Best Robo-Advisor for Bank of America Customers,” Merrill Guided Investing requires a $1,000 account minimum and charges a 0.45% annual advisory fee. It’s designed to integrate seamlessly with Bank of America accounts, making it a practical choice if you already use its banking services.

    Expert’s Take

    Merrill Guided Investing stands out for blending robo-advisory automation with input from experienced investment professionals. While algorithms handle portfolio adjustments, experts shape the underlying fund selection and allocation strategies. This gives investors confidence that their money benefits from both technology and professional oversight.

    Another strength is the ability to align investments with specific values, such as social or environmental goals. This level of personalization adds an extra layer of flexibility for those who want their portfolios to reflect their priorities. Tax-efficient management options also help investors maximize potential returns over time.

    On the downside, the higher minimum deposit may feel restrictive to beginners who want to start small. The advisory fee is higher than many competitors, which makes it less attractive if cost is your main concern. Still, the combination of professional insight and automation provides strong value for those who can meet the requirements.

    Pros & Cons

    Pros

    • Access to licensed financial advisors with the hybrid plan
    • Automated rebalancing keeps your portfolio aligned
    • Integration with Bank of America and Merrill Edge accounts
    • Backed by Merrill’s research and expertise
    • User-friendly online and mobile platforms

    Cons

    • Higher fees than some competitors
    • Limited investment customization compared to DIY platforms
    • Minimum investment requirement may not suit beginners
    • Advisor access costs extra
    • Not as flexible as independent robo-advisors

    Details

    Behind the scenes, Merrill Guided Investing portfolios are guided by human experts who set the strategies that algorithms then execute. This hybrid approach strikes a balance between efficiency and informed decision-making, appealing to those seeking more than just an automated service.

    Bank of America customers have an added advantage since their investment balances can contribute toward Preferred Rewards status. This connection can unlock valuable perks, including lower fees and discounted loan rates, further enhancing the program’s appeal.

    For investors seeking a robo-advisor that doesn’t completely remove the human element, Merrill provides a distinct option. Its combination of algorithmic precision and professional oversight creates a service that feels more personalized than fully automated platforms.

  • Charles Schwab Intelligent Portfolios

    Named the “Best Robo-Advisor for Cost-Conscious Investors,” Charles Schwab Intelligent Portfolios charges no annual advisory fee, helping you keep more of your returns. However, it does require a $5,000 account minimum to get started. This makes it a strong option if you’re focused on minimizing costs and have a larger initial investment.

    Expert’s Take

    Charles Schwab Intelligent Portfolios stands out for offering a hands-off investing experience that is both cost-effective and supported by strong customer service. The platform attracts those seeking professional management without recurring advisory fees that reduce returns.

    One of its strengths is the extensive support, with 24/7 access to representatives for questions and guidance. This ensures investors never feel left on their own when navigating the platform.

    The main drawback is the relatively high entry point compared to other robo-advisors, which may limit accessibility for beginners. Additionally, some advanced features, like tax-loss harvesting, are only available at higher balances, making them less attainable for smaller investors.

    Pros & Cons

    Pros

    • No advisory or management fees
    • Automatic rebalancing included
    • Tax-loss harvesting available on taxable accounts
    • Backed by a large, established financial firm
    • Access to Schwab’s own low-cost ETFs

    Cons

    • $5,000 minimum investment requirement
    • Mandatory 10% cash allocation may lower returns
    • Portfolios rely heavily on Schwab’s proprietary funds
    • Limited customization compared to some competitors
    • Not ideal for small or first-time investors

    Details

    The platform provides access to a wide variety of low-cost ETFs carefully selected to align with your investment goals and risk tolerance. With over 80 different portfolio variations, you can expect a strategy that closely fits your financial profile.

    Daily monitoring ensures that portfolios are automatically rebalanced when necessary, maintaining alignment with your target allocation. Investors with larger balances gain access to advanced strategies, such as tax-loss harvesting, to help improve after-tax returns.

    It’s also worth noting that Schwab allocates a small portion of your portfolio to cash, which is kept in an FDIC-insured deposit account. This approach adds a layer of security, though it may slightly reduce overall growth potential.

  • Interactive Advisors

    Named the “Best Robo-Advisor for Hands-On Investors,” Interactive Advisors lets you start with an account minimum of just $100. Its annual advisory fees range from 0.10% to 0.75%, depending on the portfolio you select. This offers investors greater control over their investments at a low entry cost.

    Expert’s Take

    Interactive Advisors stands out for its balance between automation and investor choice. It recommends portfolios based on your goals but also allows you to select from a wide variety, appealing to those who want more control.

    Investors aren’t locked into a single strategy and can select from a variety of pre-built portfolios to match different needs and values. This flexibility goes beyond what many robo-advisors offer, giving you more ownership over your investment style.

    The downside is that its pricing isn’t uniform. Fees differ based on portfolio type and account size, and can be higher than some competitors for larger accounts. Cost management is an important factor for investors considering the platform.

    Pros & Cons

    Pros

    • Low-cost index portfolios starting at 0.08% annual fee
    • Wide selection of strategies, including actively managed and thematic portfolios
    • Strong transparency with full portfolio visibility
    • Access to socially responsible investing options
    • Backed by Interactive Brokers, a well-established brokerage

    Cons

    • Interface and choices may be overwhelming for beginners
    • Higher fees for actively managed strategies (up to 1.5%)
    • Requires a $100 minimum investment, higher than some competitors with no minimum
    • Less beginner-friendly than simpler robo-advisors
    • Limited financial planning tools compared to full-service advisors

    Details

    With Interactive Advisors, you can decide whether to build your own mix of funds or let the platform design one for you. Managed portfolios can include stocks, bonds, and inflation-hedging components to balance risk and return.

    Different portfolio types have varying advisory fees and requirements, with asset allocation portfolios generally having lower fees. This tiered approach allows investors to pick a structure that fits both their strategy and budget.

    For those seeking efficiency, tax-loss harvesting is also available on managed accounts. This feature helps reduce taxable gains and can make a meaningful difference over time, particularly for higher-balance investors.

  • Betterment

    Named the “Best Robo-Advisor for Goal-Oriented Investors,” Betterment charges an annual advisory fee of 0.25% for balances up to $1 million with a $250 recurring monthly deposit. The account minimum is $0 to open, with just a $10 starting balance required. This makes it an accessible choice for investors who want low-cost, goal-based investing.

    Expert’s Take

    Betterment appeals to investors who want both structure and flexibility in their portfolios. It provides curated choices for hands-off users and customization for those who want more control over their investments.

    One of its strengths is the balance between affordability and breadth of choice. Investors can explore different strategies without facing high barriers, making it accessible to both new and seasoned users.

    Betterment also offers optional access to human advisors. While this comes at an extra cost, it adds value for investors who want a blend of automation and personal guidance.

    Pros & Cons

    Pros

    • Low annual fee of 0.25% for Digital plan
    • Premium plan adds unlimited advisor access
    • Automated rebalancing and tax-loss harvesting
    • Wide range of goal-based investing tools
    • Cash management accounts with checking and savings options

    Cons

    • Premium requires $100,000 minimum balance
    • No ability to select individual stocks or ETFs
    • Limited customization compared to some competitors
    • Customer support is mostly online, not in-person

    Details

    Betterment provides a range of curated portfolios designed around themes like innovation, sustainability, and crypto, giving investors opportunities to align investments with personal values. These options complement its more traditional, index-based choices.

    The platform features long-term planning tools to help users monitor their progress toward goals such as retirement or saving for a major purchase. Its features encourage consistency and disciplined investing habits.

    Additionally, Betterment makes it easy to donate shares to charitable causes directly from your account. This unique capability adds an extra layer of flexibility for investors who want their investments to make a broader impact.

  • Wells Fargo Intuitive Investor

    Named the “Best Robo-Advisor for Financial Advice,” Wells Fargo Intuitive Investor charges a 0.35% annual advisory fee and requires a $500 account minimum. It combines automated investing with access to financial advisors, making it a solid option for those who want both digital portfolio management and human guidance.

    Expert’s Take

    Wells Fargo’s Intuitive Investor combines robo-advisor automation with access to human financial advisors, offering personalized guidance without the usual high requirements of traditional advisory services. This makes it a practical option for those who want digital convenience paired with professional input.

    The platform allows customers to consult with advisors when needed at no extra cost, a standout feature compared to many robo-advisors. This hybrid model ensures investors who want occasional one-on-one support won’t have to maintain a high balance.

    The annual management fee is slightly higher than some competitors, but discounts may be available if linked with other Wells Fargo accounts. For investors who value human interaction alongside automated portfolio management, this service balances affordability and guidance.

    Pros & Cons

    Pros

    • $500 minimum investment is accessible for many beginners
    • Automated portfolio rebalancing keeps your investments on track
    • Access to Wells Fargo financial advisors if you need human support
    • Integration with Wells Fargo banking makes account management easier
    • Portfolios built with diversified, low-cost ETFs

    Cons

    • 0.35% annual fee is higher than some robo-advisors that charge 0.25% or less
    • Limited customization compared to some other platforms
    • No tax-loss harvesting, which some competitors offer
    • Requires a Wells Fargo account for the smoothest experience
    • Less appealing if you prefer advanced features or niche investment strategies

    Details

    The program begins with a short questionnaire to identify each customer’s investing style, whether globally diversified or sustainability-focused. Based on the results, portfolios are structured and rebalanced automatically to stay aligned with long-term goals.

    Daily monitoring ensures accounts remain on track, with adjustments made as markets shift. This proactive management minimizes the need for manual intervention and keeps portfolios consistent with each investor’s strategy.

    The key differentiator is that clients gain access to financial advisors without needing a large account size, making personalized guidance far more accessible. This feature bridges the gap between fully digital services and traditional wealth management.

  • Ally Invest Robo Portfolios

    Named the “Best Robo-Advisor for Adapting to Investing Styles,” Ally Invest Robo Portfolios charges a 0.30% annual advisory fee and requires a $100 account minimum. It’s a flexible option for investors who want low-cost automated portfolios tailored to different goals and risk levels.

    Expert’s Take

    Ally Invest Robo Portfolios offers a variety of portfolio options tailored to different investor profiles, including core, income-focused, socially responsible, tax-optimized, and cash-enhanced strategies. These options let investors align their portfolios with both financial goals and personal values.

    The platform is particularly attractive for newer investors due to its low entry point, while still offering structured portfolios that eliminate the need to select individual investments. This combination of accessibility and guidance simplifies the investment process.

    However, some trade-offs exist. Market-focused portfolios carry slightly higher management fees compared to some competitors, and although there is a tax-optimized option, the lack of full tax-loss harvesting may reduce long-term tax efficiency.

    Pros & Cons

    Pros

    • No advisory or management fees
    • Low $100 account minimum
    • Easy integration with Ally Bank accounts
    • Automated rebalancing of ETF portfolios
    • Two portfolio choices: cash-enhanced or market-focused

    Cons

    • Cash-enhanced portfolio lowers potential returns
    • Limited to ETFs; no individual stocks or bonds
    • No tax-loss harvesting feature
    • Fewer customization options than some competitors
    • No access to human financial advisors

    Details

    Investors can choose portfolio setups based on risk tolerance and objectives. Cash-enhanced portfolios maintain some funds in cash to earn interest, while market-focused options prioritize growth through greater stock allocation.

    Additional portfolio styles, such as socially responsible or tax-optimized options, allow investors to further tailor their approach. All portfolios are diversified and professionally managed.

    Portfolios are monitored daily and automatically rebalanced to remain aligned with goals. The lack of tax-loss harvesting may be a limitation for investors seeking to minimize taxable gains.

Frequently Asked Questions

How do robo-advisors work?

Robo-advisors begin by asking users about their income, financial goals, and risk tolerance. Based on the responses, they create a diversified portfolio of ETFs or index funds that aligns with the investor’s objectives. The system then automatically monitors and rebalances the portfolio to keep it on track over time.

How do robo-advisors compare in terms of investment performance?

Most robo-advisors construct portfolios with ETFs and index funds, so performance generally tracks the broader market. Differences mainly arise from portfolio allocation, fees, and the availability of features like tax-loss harvesting. Lower fees and well-diversified portfolios typically allow investors to retain more of their returns.

What are hybrid robo-advisors?

Hybrid robo-advisors combine automated digital investment management with access to human financial advisors. This approach allows investors to receive personalized guidance alongside algorithm-driven portfolio oversight, blending convenience with tailored advice.

Which robo-advisor is most suitable for retirees seeking to invest?

Retirees may benefit from platforms that support retirement accounts, income planning, and cash management. Access to financial advisors or CFPs can provide personalized retirement guidance. Features such as low account minimums, flexible withdrawals, and bond-heavy portfolios help ensure steady income and financial stability.

What is the best robo-advisor platform for beginners just starting out?

For beginners, look for a robo-advisor with no or low account minimums and an easy setup process. Platforms that use automated questionnaires to determine risk tolerance and investment goals simplify getting started. Some also offer educational resources, checking accounts, and cash management tools to help new investors manage their finances in one place.