The best robo-advisors offer easy account setup, robust goal planning, account services, portfolio management, and security features, attentive customer service, comprehensive education, and low fees.

Best Robo-Advisors of 2019

Our list of the top five robo-advisors:

  • Wealthfront
  • M1 Finance
  • Betterment
  • Personal Capital
  • Interactive Advisors


  • Account Minimum: $500
  • Fees: 0.25% for most accounts, no trading commission or fees for withdrawals, minimums, or transfers. 0.42%–0.46% for 529 plans. Underlying portfolios of ETFs average 0.07%–0.16% management fee
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2020欧洲杯积分Wealthfront earns the top spot in our robo-advisor ranking with its winning combination of goal-planning assistance, ease of use, transparency when building a portfolio, and account services. Even without having a Wealthfront account, you can use their financial planning tool, Path, which gives you a picture of your financial situation and whether you are on track towards retiring comfortably. Wealthfront allows you to borrow against the value of your portfolio as a line of credit. This can only be done once your portfolio has accumulated at least $25,000. As your account balance increases, you have access to additional services such as adding individual stocks and their Smart Beta program.


  • 2020欧洲杯积分Financial planning tools that help you see the big picture

  • 2020欧洲杯积分The best goal planning capabilities of all robo-advisors

  • Portfolio line of credit for accounts over $25,000

  • 2020欧洲杯积分Tax-loss harvesting available for all taxable accounts

  • 2020欧洲杯积分Cash management accounts available


  • No online chat for prospective customers or existing clients

  • Larger accounts may contain mutual funds with much higher expense ratios

  • 2020欧洲杯积分Portfolios under $100,000 are not customizable beyond risk settings

  • 2020欧洲杯积分Wealthfront carries no insurance beyond standard SIPC coverage

M1 Finance

  • Account Minimum: $100 ($500 minimum for retirement accounts)
  • Fee: 0%
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M1 Finance is not exactly a robo-advisor since it is registered as a broker/dealer. But it offers a unique combination of automated investing with a high level of customization, allowing clients to create a portfolio tailored to their exact specifications. You can create portfolios containing low-cost ETFs, or use individual stocks – or both. Their target customer has a long-term focus, and may have used a traditional online brokerage to invest in stocks and ETFs, but wants a lower cost alternative that allows fractional share transactions to personalize a portfolio.

Portfolios are displayed as “pies,” which are circular charts with slices that represent each asset. Those investing for retirement can invest in a target-date portfolio made up of ETFs. There are socially responsible pies, created in partnership with Nuveen, that offer passive investment opportunities. You can borrow against your portfolio at a relatively low-interest rate using the M1 Borrow feature. It’s a remarkably flexible platform and includes stock and ETF screeners, which are rare in the robo-advisor world. There’s a premium offering, which runs $125 per year that includes additional trading opportunities, lower interest rates on loans through M1 Borrow, and higher interest rates on cash held in an M1 Spend account. It launches later this year. 


  • Trade fractional shares so you are fully invested with no excess cash

  • Build your own portfolio or follow one of 80 "expert" portfolios

  • 2020欧洲杯积分The standard investing platform is free

  • 2020欧洲杯积分Ability to see portfolio contents which you can rebalance at any time


  • Accounts with less than $20 and no activity in 90 days are charged a management fee

  • No online chat capability; most support is via email

  • 2020欧洲杯积分No financial planning professionals on staff

  • Very little help for establishing financial goals

  • There is no account consolidation tool available


  • Account Minimum: $0
  • Fees: 0.25% (annual) for digital plan, 0.40% (annual) for the premium plan 
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There are several ways to use Betterment: you can sync all of your financial accounts to get an overall picture of your assets without investing, or you can use Betterment to invest in either one of their pre-built portfolios, or you can build your own portfolio. Taxable accounts are designed to maximize after-tax returns using tax-loss harvesting, and portfolios are rebalanced when necessary. There are a lot of planning tools and advice offered along the way. The recommended portfolios are displayed before funding and you can choose a socially responsible option if you'd like. Betterment launched a cash management product2020欧洲杯积分 in late July that pays a relatively high rate of interest.

The goal monitoring tool is visually pleasing and makes your progress easy to track. Online chat is built into the website and mobile apps. The annual management fee for a standard account is 0.25% of your Betterment balance. For a 0.40% annual management fee, you can upgrade to the Premium plan, which offers access to financial planners.


  • Quick and easy account setup

  • 2020欧洲杯积分Portfolios are fully transparent prior to funding

  • You can sync external accounts to individual goals

  • Add a new goal at any time and track your progress with ease

  • 2020欧洲杯积分Easily change portfolio risk or switch to a different type of portfolio


  • Users of the planning function are constantly nudged to fund a Betterment account

  • 2020欧洲杯积分The standard plan incurs a charge of $199–$299 to talk to a financial planner

  • Socially Responsible portfolios are invested in exchange traded funds (ETFs)

  • There is no margin lending, secured loans, or borrowing options against your portfolio 

Personal Capital

  • Account Minimum: $100,000
  • Fees: 0.89% to 0.49% for accounts over $1 million
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Personal Capital's account minimum is $100,000, which puts them out of range for a new investor, but anyone can use their free financial planning tool. There are three levels of asset management once you've topped that $100,000 minimum that offer higher levels of human help as you go. There's no generic customer support number to call since every client has a financial advisor assigned from the start. Personal Capital has excellent tax minimization strategies, intended to lower your tax payments due to investment activity. Recommended portfolios are strategically designed to help each client attain their individual goals, but you can't see the specific contents until an account is funded.


  • 2020欧洲杯积分Account holders have a financial planner on call

  • 2020欧洲杯积分Excellent tax optimization strategies

  • 2020欧洲杯积分Very wealthy clients can use Private Client services

  • Robust financial planning tools


  • 2020欧洲杯积分Extremely high account minimum requirement

  • 2020欧洲杯积分High fees compared to digital-only competitors

  • 2020欧洲杯积分Mobile app is missing several key features

  • 2020欧洲杯积分The sign-up process requires a phone call with a financial planner

Interactive Advisors

  • Account Minimum: $1,000 for portfolios managed by Interactive Advisors. $10,000-$120,000 for portfolios managed by boutique money managers.
  • Fees: 0.08-1.5% per year, depending on advisor and portfolio chosen
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2020欧洲杯积分Interactive Advisors, a service offered by Interactive Brokers, offers a wide range of portfolios from which to choose. At the lower end of the cost scale, you will find rules-based automated portfolios from their Smart Beta (0.08% management fee), Diversified (0.20%) and Asset Allocation models (0.12%), while actively managed portfolios run by money managers are at the higher end of the range (0.50-1.5%). Existing brokerage customers can partition a portion of their existing portfolios and invest in one (or more) of those offered. Margin lending is available, as is taking a loan against the value of your portfolio.

The service is currently weak when it comes to helping customers plan for their goals, but there are plans to improve their goal planning features in 2020. Clients can use the IB Investors’ Marketplace to search for financial planners and professionals.  


  • Wide range of portfolios offered

  • 2020欧洲杯积分Most portfolios contain individual stocks

  • 2020欧洲杯积分Margin lending and portfolio-backed loans available

  • 2020欧洲杯积分PortfolioAnalyst tool lets you consolidate and track your financial accounts


  • Opening and funding an account is difficult

  • 2020欧洲杯积分Little help available for goal planning

  • Trading commissions make it difficult to ascertain costs

  • Some actively managed accounts have very high minimums


2020欧洲杯积分Investopedia is dedicated to providing investors with unbiased, comprehensive reviews and ratings of robo-advisors. Our 2019 reviews are the result of six months of evaluating all aspects of 32 robo-advisor platforms, including the user experience, goal setting capabilities, portfolio contents, costs and fees, security, mobile experience, and customer service. We collected over 300 data points that weighed into our scoring system.

2020欧洲杯积分Every robo-advisor we reviewed was asked to fill out a 50-point survey about their platform that we used in our evaluation. Many of the robo-advisors also provided us with in-person demonstrations of their platforms.

Our team of industry experts, led by Theresa W. Carey, conducted our reviews and developed this best-in-industry methodology for ranking robo-advisor platforms for investors at all levels. Click here to read our full methodology.