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Best Robo Advisors for 2020

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

Best Robo-Advisors Comparison

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.

Robo Advisor 

Betterment is the best robo advisor platform for beginning investors, with no minimum deposit and low fees... in-depth retirement tools and effective asset allocation... plus, it's possible to receive assistance from human advisors.

Personal Capital is an excellent personal finance app that syncs your spending, saving, and investing accounts. It's easy to use, plus it's free! Personal Capital has a powerful feature that completes a thorough checkup of your investment portfolio. However, its Wealth Management service is more expensive than other robo advisors.

Although it doesn't offer tax-loss harvesting or mutual fund investing and is not ideal for active traders, M1 Finance is a top-notch robo-advisory service. Its fees are low, it charges no commissions, and there's no required minimum deposit.

With low fees (free for accounts with less than $10,000) and a stellar selection of features, Wealthfront is one of the best players on the robo investing scene. However, some sophisticated investors might find its features lacking.

Ellevest is a robo advisor created with women in mind. It has impressive goal-setting functions and even allows its users to invest in real estate, but we wish the platform supported a wider variety of accounts.

Blooom is a robo investing platform that can help you manage your 401(k) efficiently and at a low cost (just $10 per month). It's simple to use and can work with any online account. On the downside, only 401(k), 401(a), 403(b), 457 and TSP plans can be managed.

What Is a Robo Advisor?

There are many definitions of what exactly “robo advisor” means. To put it simply, a robo advisor is a method to automate the asset allocation of investments via a computer algorithm.

In a broader sense, a robo advisor may also include human, financial advisors but only for services that require human assistance (e.g., taxes, retirement, or estate planning).

Overall, I consider the rise and interest in robo-investing services a good thing, pushing down the costs of high-fee Wall Street advisors who offered no real value and, if anything, were a drag on returns. This is positive in any competitive marketplace. Also, these firms are helping individuals — who typically have no clue where to begin — with goal setting and asset allocation.

As with almost everything, one size does not fit all when it comes to financial advice. However, I do see this space-filling the need of most beginner investors and investors with uncomplicated financial portfolios.

Best Robo-Advisors

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.

1. Betterment

Our Score: 9

Betterment was one of the first — if not the first — robo advisor to crop up, but that doesn't mean it hasn't remained on the cutting edge. Fees are low (0.15-0.40%, depending on the size of your investment and the level of service you choose), and there's no minimum investment required to get started.

That makes Betterment particularly appealing to beginning investors. This is not a product designed for the DIY investing crowd — you can expect to “set it and forget it” with this robo advisor service.

One thing that sets Betterment apart from the competition is its Premium plan, which offers unlimited access to CFP professionals for guidance on saving up for major life events. These human advisors can help set you on the right path for marriage, children, retirement, or any other big step. You'll also receive advice on your accounts beyond Betterment.


2. Personal Capital

Our Score: 9.5

Personal Capital is a robo advisor, and then some. This service combines the investing capabilities of a traditional robo advisor platform with general personal finance functions such as expense monitoring and budgeting.

You can use Personal Capital‘s app for free to receive regular summaries of your spending, net worth, and investment portfolio. It can help you determine if you're on target for your retirement, even if you have decades to go. However, if you want to pay for wealth management services, you'll pay 0.49-0.89% annually (depending on the size of your account). You'll need $100,000 deposited for this premium feature.


3. M1 Finance

Our Score: 8.5

M1 Finance is a robo advisor with a twist. That's because it can provide you with more control over choosing your investments than regular robo investors.

M1 Finance is an excellent choice for new investors because it teaches you how to build a portfolio using “Pies,” which are investing templates. You can create your own Pie portfolio by selecting stocks and ETFs yourself, or you can let M1's experts and algorithms do it all for you.

There are no minimum investments required to get started with M1 Finance. Plus, it's fee-free, too.


4. Wealthfront

Our Score: 9 Wealthfront may have been designed to appeal particularly to Millennials — with a focus on using automated advice to save for the long term — but there's plenty to appeal to all demographics here. We've consistently rated Wealthfront as one of the very best robo advisor services on the market, and we strongly recommend that you try it.

What makes Wealthfront so unique?

  1. You can start with its low fees (only 0.25% per year or free, if you just want to use the financial planning app) and doable minimum investment ($500). But you should also take into account its wealth of investment options and tools that genuinely democratize the investment process.
  2. Wealthfront's Path algorithm can help you save for retirement, a home purchase, or your kids' education. You'll get the kind of planning advice you could usually expect from a high-priced personal advisor.

Other unique features include an interest-paying cash account that requires only $1 to open and tax-loss harvesting for all accounts, regardless of size. There are lots of tools and resources here to explore and use to your advantage.


5. Ellevest

Our Score: 9

Ellevest was created with a mission in mind: to address women's special investment needs. The founder, former Wall Street exec Sallie Krawcheck, wanted to tighten the wide gap she saw between men and women when it comes to investing for the future.

Women do have unique financial considerations. They're more likely to take time off work to care for children or elderly parents. They tend to live longer and have steeper retirement-age medical bills. And then there's the big elephant in the room — they earn less than their male counterparts.

Ellevest seeks to make investments in the future easier. Low fees (0.25-0.50% per year) and no minimum required investment are an excellent place to start.

6. Blooom

Our Score: 8.5

How's your 401(k)? No really — how's it feeling these days?

If you want to check the health of your 401(k) plan — and fix it — check out Blooom. For only $10 per month, this unique robo advisor can monitor and manage your 401(k), 401(a), 403(b), 457, or TSP plan. Blooom will now also evaluate your IRA if you have one with Vanguard, Charles Schwab, or Fidelity.

This robo advisor will eliminate funds that aren't doing you any favors and choose new ones with an asset allocation more closely aligned to your goals. Blooom works with many different plan providers. If your employer-sponsored plan has online access, Blooom can handle it. However, note that the biggest drawback is that it doesn't work with your other retirement accounts, such as IRAs.


Robo advisors: a method to automate the asset allocation of investments via a computer algorithm.

How Do We Rate Robo Advisors?

The Investor Junkie team has spent a lot of time with the top robo advisors, evaluating each one to help our readers make informed choices about which service best suits their needs. So how do we judge them?

When rating robo advisor services, we take a close look at six crucial criteria:

  1. Commissions & Fees: How much does the robo advisor charge its users to use its service? Is there a good value for your money?
  2. Tools & Resources: Besides just investing your money, what research, calculators, planning programs, etc., does the robo advisor offer to help you maximize your investing experience?
  3. Customer Service: How can you access the customer service team, and when? Does the robo advisor have a call center open on the weekend? Can you access help via live chat?
  4. Investment Options: What kinds of accounts can you invest in with the robo advisor? Does it offer both taxable accounts and IRAs?
  5. Ease of Use: Does the robo advisor's user interface make sense? Does it have a mobile app that's seamless? What kinds of accessibility options does the robo advisor offer?
  6. Asset Allocation: How does the robo advisor's algorithm consider asset allocation? Can it invest in a diverse portfolio with commodities, real estate, etc., as well as ETFs and mutual funds? And is the asset allocation automatically rebalanced?

Taking into consideration the criteria above, we have selected six that consistently score high marks.

Is Robo Investing Right for You?

The answer to this question depends on your net worth, the complexity of your investments, and whether you feel comfortable enough doing it yourself. I'm not in the camp of those who say that these robo advisors add no value and that you could easily replicate their results yourself just by using Fidelity or Vanguard funds.

In my case, most of my family assets are DIY, but I've also been studying robo advisors for years and feel comfortable using them. Other individuals may not, and I get that.

Which Kind of An Investor Are You?

Do-It-Yourself Robo Advisor Financial Advisor
Cost Low Medium High
Investment Flexibility High Low Medium
Account Minimums Low Low High
Time & Research High Medium Low

Keep in mind that what robo advisor firms are offering is not unique. A target-date mutual fund has some similarities. All of the robo advisor firms base their automated investment guidance on Modern Portfolio Theory (MPT), Efficient Market Hypothesis (EMH), and a series of questions to determine your risk profile.

While this investment strategy isn't perfect, it sure beats what most individuals have: nothing. In reality, inexperienced investors usually have a hodgepodge of investments with no asset allocation, actively managed funds, high annual fees, and whatever “stock du jour” their peers recommend investing in.

Firms like Wealthfront focus on the end goal and are ideal for individuals who don't care or who don't want to learn about the details of investing. For these individuals, the 25 basis points (otherwise known as a 0.25% annual fee) or less they pay is well worth it and, in many cases, much better than hiring an FIA — in terms of both cost and good financial advice.

Aren't All Robo Advisors the Same?

To the casual reader, the differences among robo advisor firms might seem minor, but in reality, they're not. You have a choice when it comes to:

  • Minimum Deposit: With some firms, you can start out with nothing, while others require sizable amounts to invest.
  • Annual Fees: Be aware of hidden costs and fees for the ETF a robo advisor purchases on your behalf.
  • Asset Allocation: Asset allocation can vary quite a bit based on your age and the way you answer the service's risk assessment questions.
  • Account Type Support: Does the robo advisor offer individual or joint accounts, IRAs, etc.? Can the robo advisor assist with your 401(k) plan?
  • Automation: Some services are 100% automated vs. human-assisted advice.
  • Tax Optimization: Services such as tax-loss harvesting can help at tax time.
  • Custody of Funds: Managed either by you, in which case the robo advisor gives trading advice, or directly by the firm.
  • Management of Assets: Manage all your assets or just a portion.
  • End Goal: Retirement-only or other goals (e.g., college education).

Out of all the services, Personal Capital is among the most expensive but also has the most human interaction with its clients. It could be said Personal Capital is much more of a traditional financial advisor that uses technology to assist. Personal Capital's fees also include trading fees, and it recommends mostly individual stocks to minimize expenses and taxes as well. So its true cost might be more in line with the other firms mentioned.

Cost is an important consideration when picking your robo advisor. Be aware the robo advisor fees are only for its services — it doesn't include the fees on the ETFs it purchases on your behalf. If you're curious, I've researched the popular robo advisors and broken down the true annual costs of each.

Is the Technology New, and Can It Be Trusted?

The online tools robo advisors offer aren't new. Traditional financial advisors had the same tools available to them for years and could roll up a personalized asset allocation plan specific to you. Heck, this stuff was available in 1999 when I first used an advisor at PaineWebber. Like self-checkout at Home Depot ( HD), this is pushing the technology down to the masses. You have direct access to manage your account, and it removes the non-value-added middlemen.

Let me be clear: Some financial advisors can add tremendous value. They can give guidance to the asset allocation best for you based upon unquantifiable factors, which computer programs can never do. But I believe this is more the exception than the rule.

Financial advisors can give recommendations about long-term life decisions (e.g., helping plan for a child's education through a recommended action plan). Some of the robo advisors mentioned in this article are just tech-assisted firms and not 100% automated. If you want it, the human element is not entirely removed from the loop with some of these firms.

There's something to be said for any 100% algorithm-driven investment approach. While it might help with a high percentage of individuals, there are always cases in which automated guidance isn't appropriate.

Can Robo Advisors Replace Traditional Advisors?

Previously, when investing, your choices were pretty limited. You had only two options to choose from:

Historically, there's been a problem with trying to get an FIA: Many have minimum asset requirements of $500,000 or more. These requirements put many FIAs out of reach for younger and lower-net-worth individuals.

So if you fell into this category, you had to fend for yourself or get generalized advice from a financial guru like Suze Orman (don't get me started).

Also, it's not uncommon for FIAs to charge 1-2% annually (or even more via the loaded investment products they push you into). That's 1-2% you have to do better than the market to keep up. As history has shown, this is a steep fee to overcome, and in many cases, FIAs also came with substandard financial advice to boot.

Let's also not forget that — if the investment advisor isn't a fiduciary — they may not offer investments in your best interest but recommend investment products that best line their wallets. However, there are services you can use to find a fiduciary near you. For example, the Paladin Registry is can help you find a pre-vetted fiduciary, and it's completely free to use.

If you went the DIY route, you might have found you aren't cut out to go it alone. Gone are the days when everyone who retired automatically got a gold watch and a pension (which was managed by a professional). Today you are required to self-fund your own retirement.

401(k) plans and IRA accounts put you in the investment driver's seat. But it's more than likely you haven't read up on investment analysis. Worse yet, you may have poor investing psychology and jump out of the market at the absolute worst times (buying high and selling low).

Bottom Line: Should You Choose to Invest With a Robo Advisor?

The ultimate question is: Should I use a robo advisor instead of doing it myself, or should I use a traditional advisor? In many cases, yes, a robo advisor is a solid choice.

A robo advisor is a good fit if you:

  • Are Young — with more than 20 years till retirement.
  • Have a Simple Portfolio — no accounts with other financial services.
  • Lack of Investment Experience — You're unsure about where to begin.

They don't cost much to use, and in my opinion, most create a decent asset allocation. These services will give you a good starting point.

As your needs change, you could always move your money to another financial service. By then, some of these same services will have advanced and might automate more of what previously required a human.

Are they perfect? No. It can be said if you have the skills you might be better off rolling your own, or a target-date fund may be all you need. But then again, that's not the audience these companies are targeting. They're filling a niche in the investment advisory space that's been ignored for years.

If you want estate planning or if you have issues that don't fit the typical investment planning mold (e.g., you have a child with special needs), then you might be better off with a traditional advisor. Or a robo advisor service that can help customize your asset allocation.

In my opinion, however, it's no question robo advisors are the future of the financial industry for the most basic advice.

Just as Vanguard revolutionized investing in indexed-based low-cost funds, robo advisors are doing the same with asset allocation for the masses.

Full Comparison of Robo Advisors Fees

We've done several reviews of the different types of robo advisors that are up-and-coming in the fintech space. Now that we've done the research, we're listing out a detailed side-by-side comparison so you can determine which automated investment advisor is right for you.

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.

Robo-AdvisorMinimum Investment & FeesOur Rank
Wealthfront
Minimum Investment: $500
Fees Range: 0.25%- 22.3%
Personal Capital
Minimum Investment: $100,000
Fees Range: 0%- 0.89%
Betterment
Minimum Investment: $0
Fees Range: 0.25%- 0.40%
M1 Finance
Minimum Investment: $0
Fees Range: 0%- 0%
Ally Invest Managed Portfolios
Minimum Investment: $100
Fees Range: 0.00%- 0.00%
SoFi Wealth
Minimum Investment: $1
Fees Range: 0%- 0.25%
OpenInvest
Minimum Investment: $3,000
Fees Range: 0.5%- 0.72%
Ellevest
Minimum Investment: $0
Fees Range: 0.25%- 0.50%
MEGI
Minimum Investment: $5,000
Fees Range: 0.45%- 0.45%
Wealthsimple
Minimum Investment: $0
Fees Range: 0%- 0.50%
Vanguard Personal Advisor Services
Minimum Investment: $50,000
Fees Range: 0.30%- 0.30%
FutureAdvisor
Minimum Investment: $10,000
Fees Range: 0.50%- 0.50%
WiseBanyan
Minimum Investment: $1
Fees Range: 0%- 0%
E*TRADE Core Portfolios
Minimum Investment: $500
Fees Range: 0.30%- 0.30%
MarketRiders
Minimum Investment: $1,000
Fees Range: 0.25%- 0.45%
SigFig
Minimum Investment: $2,000
Fees Range: 0.00%- 0.50%
Rebalance IRA
Minimum Investment: $100,000
Fees Range: 0.50%- 0.50%

Larry Ludwig

Larry Ludwig was the founder and editor in chief of Investor Junkie. He graduated from Clemson University with a bachelor of science in computers and a minor in business. Back in the ’90s, I helped create some of the first financial websites for firms like Chase, T. Rowe Price, and ING Bank, and later went on to work for Nomura Securities. He’s had a passion for investing since he was 20 years old and has owned multiple businesses for over 20 years. He currently resides in Long Island, New York, with his wife and three children.

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25 Comments

  1. this is a great introductory article regarding Robo investing. I am an experienced investor, but the idea of having an algorithm make the decisions for you while you sleep at night is a great concept, especially when your fee structure is so minimal. As a Day Trader of sorts, there is good profit to be made, but much stress. I am definitely going to follow the development of this trend.

  2. Which robo advisors will work for my situation?
    -have 100k in an IRA at fidelity that I want to rollover (cash)
    – will take into consideration all of my other investments as far as asset allocation
    – will dollar cost average my 100k into their asset allocation over time, in my opinion the market is too hot to plop into at one time

    It looks like personal capital is the only one, but their fees are higher.

    1. Michelle,
      If your investment is an IRA at fidelity, it’s already “plopped into the market.”

      If you are really set on cashing it out only to drip it back into the market over time with dollar cost averaging, be ready for a 10% penalty if you’re not 59.5 years old.

      Also, your thought on dollar cost averaging, on one hand, is a good one. However, counter to that thought is your tactic of attempting time the “currently hot market” by opting to sit on the sidelines.

  3. I’ve seen many, many sites that recommend ETF portfolios, but these are typically based on the author’s fundamental analyses, which is subject to bias and human error. The concept of an unbiased, algorithm-based approach to portfolio identification thus appeals to me. However, I have been disappointed by the homogeneity of the approaches taken by providers in this market niche to date by providers in this space.

  4. Do all robo-advisors utilize a business model of fully managing its customers’ accounts? I am surprised I have not seen more DIY models in this space, ie provider sells algorithm-based portfolio recommendations, but leaves it to customer to manage his or her account.

        1. Hey Alex –

          It’s certainly not counter-productive to have a long-term goal, such as retirement, managed by a robo and then use a discount broker to do some speculative investing on your own. You should check out, Alkanza. It is a new robo that allows you to both create multiple savings goals (so you can have a lower risk tolerance for retirement savings and a higher risk tolerance for saving for you dream car) and they aren’t a broker, so they would integrate with your existing brokerage account (Fidelity is an option that they support).

  5. I guess I’m a bit confused by the whole Robo-Advisor thing, and I think there is a fair bit of smoke-and-mirrors out there. O.K. they ask you questions, then create a portfolio for you using an “algorithm.” But the question that this article fails to answer is what makes their “algorithm” different if anything? What sets one human financial planner apart from another is their track-record, but I don’t see any track-records here. Buy any basic investing book and it will spell out for you a standard allocation of stocks and bonds given your age and risk tolerance. I don’t really see what these systems do outside of that? If stocks drop 60% tomorrow, with their algorithms change? I think these products are not very transparent in that they take your money and the magic happens, but we know nothing about what drives that, just that somehow the magic happens.

    So the last year was basically flat in S&P500 and DOW, and bond prices mostly dropped, so how did a portfolio and any of these systems perform in the last year?

    1. Great comment Allan. The sophistication and goal of the algorithms are certainly different from robo to robo. However, based on my review of the large players, they all seem to implement a fairly static interpretation of modern portfolio theory – meaning that the portfolio allocation that optimizes returns for a given level of risk (defined as volatility) does not change with new market information. This is not where the robos will stop. The big players appear focused on customer acquisition and distribution deals, differentiating on returns does not appear to be a priority. I expect this will change, perhaps sooner rather than later given the performance of these robos in this down market.

      It is highly unlikely that the robos will expose these algorithms to the public, particularly if they do create a more sophisticated allocation methodology. But active funds don’t expose their secret sauce either. So in the end, we should judge all of them on actual performance data (post expenses). It would be interesting for the robos to clearly show performance, however what would they show? First, they have limited actual performance data. They can show backtests, but backtests are always awesome. Second, they do have static model portfolios, but their exact implementation is different per client due to client specific frictions (taxes, account size and client driven changes to the portfolios). Third, there is not a benchmark for robos to show performance against. They can show index performance for the various asset classes represented in their portfolios, but the allocations are of course dynamic.

      Also, I don’t believe track record defines a financial planner. A financial planner (advisor) is primarily tasked with helping clients define their goals, risk tolerances and savings plans – many of them are simply a source of financial discipline. Most do not make specific investment decisions based on performance expectations, they use allocation methodologies provided to them by their technology platform, firm, or from what they have read/learned in order to meet their clients’ long-term financial goals.

      I mentioned Alkanza in a prior comment, and I will again. I use them and you should look at it. I know their allocation algorithm is very different from the large robos and their fee structure is performance based. So they only get paid if you do, and if you lose money, they give you a management fee credit. Also, you can see the performance of your portfolio against all of the indexes and all of the other Alkanza client portfolios on a monthly basis – I think you have to be a client to see this data.

  6. Thank you for the very well written an introduction article and related discussion, which clarifies for what these robo advisers can do. All these seems to be targetting at US markets. Are you aware any vendor for EU (or any country within EU)?

  7. Looking for a Robo-Advisor that allows monthly withdrawals for living expenses as I am already retired, is this totally against the primary objective of the Robo-Advisors ?

    1. Hi Fred,

      Some of the human-assisted firms can help with retirement and some firms like Betterment do have the option to pair down your assets. Though you are correct, most robo-advisors (advisors and the investment industry in general) have plans for accumulation phase, and not the deaccumulation. I suspect as more Baby-Boomers retire this will become a bigger feature in these services.

  8. I’m currently doing my own investing at Fidelity, investing in a group of index ETFs (that are likely highly correlated) at $7/trade and am considering moving to a Robo. I have $100-$200K in IRAs, and the same range in non-tax advantaged accounts.

    The fees would be $200-$300/yr. on the NTAs, which while not a lot is more than I’m currently paying, since I rarely sell securities unless I can get a tax deduction at year end. The value I see comes from three sources:

    1) More frequent rebalancing
    2) Convenience
    3) Piece of mind in having a “professional” service
    4) Tax harvesting (only applies to non-tax advantaged accounts)

    Is this worth the couple hundred in fees? I’m really not sure. Difficult for me to see the added value in the rebalancing when I’m young and my portfolio is going to be all equities anyway, and tax harvesting doesn’t seem like it would gather that much. Would need capital losses of >$1K/yr, which doesn’t seem that likely after the portfolio matures. There’s also the likelihood I’ll be taxed more frequently on the gains.

    After writing this out, I think I’m leaning toward sticking with Fidelity.

    Let me know if I missed anything.

    1. Hi Paul, In my opinion for individuals like in your position it is primarily the convenience. The set it and forget it. The question you have to ask is the cost a robo-advisor charges worth that convenience? For some definitely yes.

      Lastly Fidelity has Fidelity Go robo-advisor service.

  9. Hey, I’m a 55yo with approx. 250k split in Roth and reg accounts. Each account is being managed at a fee of approx. 1.3%. I hate the idea of continuing to pay 3k in fees per year but am also fearful of cutting the cord and letting an algorithm take over. The company I am with is Edward jones and am invested in their advisory solutions plan. I plan on leaving the money in the market after I retire in 10 or so years. I guess what I am thinking is that I could put the money in index funds according to my risk tolerance and do just as well but saving money on fees. Any advice is appreciated. Thanks, Lee

    1. The question you have to ask yourself is Edward Jones getting you 1.3% in returns above the market? Also the other question is are you 100% sure that is the total annual fee you are paying Edward Jones AND the mutual funds/ETFs they have place you in? I suspect no if you look them on Morningstar and would be surprised of the total in fee you are paying annually.

  10. I used Betterment and Wealthfront for my SEP IRA. My biggest complaint was that with Wealthfront it was almost impossible to time the market. If deposit to Betterment transfers and invests the next day after the request, Wealthfront takes anywhere between 4-6 days to do the same. Otherwise they were very similar. The biggest con with all the robos is the fact that if the markets are steady everything is OK, but if you anticipate big market drop or even one type of products (like bonds recently) to drop you can’t go to cash partially or fully unless you cancel your account. Otherwise you can use their fully publicized portfolio example to build your own by buying ETFs through any other brokerage.

  11. I am fairly new to investing, I’ve been reading/researching, and it seems investing in Vanguard funds would be less expensive, and you could probably even mimic Wealthfront. So why not just do that? How much would one save for a $10,000 investment in a taxable account?

    If it is only $15, then I can see why one would choose Wealthfront. You save yourself the time of managing/allocating, rebalancing (which I guess isn’t much), have the TLH benefit (I’m not sure how much that would actually add up to), and most importantly trust someone else and hopefully avoid mistakes that way.

    Some people go crazy over robo-advisors, saying it is a rip-off. I don’t see how. Particularly if it is a taxable account to be used in the next 10 years.

  12. Hey Larry. This is very well put together. Bravo on creating such a great organized piece with visuals to help guide the reader. I’ve gone through quite a few robo-advisors and you created a nice fat list here. Thanks for writing it and good job organizing it so well.

  13. I wonder if any of the Robo Advisors are equipped to handle the current corona-virus roller coaster stock market. I have Fidelity Go and they re-balance when there is a 2% change. Not daily, but often. As a result, there are too many buy/sell transactions causing me to have several “wash sells.” The problem being is that Fidelity Go sells and and buys back the exact same funds. They need more funds that are similar, but different enough not to cause a wash sale. Since I have less than $9,000 invested and contribute $300/month is it too much to ask a Robo Advisor not to re-balance 4 days prior to my next deposit which would avoid the need to sell . I will be leaving Fidelity Go and managing my own accounts where I can sell my long term fund gains and take the special tax treatment for being well under the $80,000 (joint) taxable income .

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