Best robo-advisors in 2025
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Reviewed by
Edited by
Reviewed by
Robo-advisors make it easy to build a low-cost investment portfolio built for the long haul. But it pays to shop around to find the best robo-advisor for you, because the services offered by these automated investment managers vary in a few ways, including fees, investment options, account minimums, access to a live advisor and more.
We evaluate robo-advisors on multiple factors, then weight those measures based on our assessment of their importance. We then systematically score robo-advisors across categories and scale the raw scores to ensure that you’re seeing the top options among a field of high-quality companies. (Check out our detailed methodology.)
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Best robo-advisors in 2025
Betterment
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Betterment sets a high standard for service. It offers automatic rebalancing, tax-loss harvesting, a personalized retirement plan, a variety of portfolio options (such as impact investing) and fractional shares in funds, so that all your money is invested rather than having to wait until you have enough to buy a full share. You can sync outside accounts, too, and receive advice on them. Betterment’s premium plan ups the game with unlimited access to a team of human financial advisors if you meet the $100,000 minimum account requirement.
Management fee: 0.25% to 0.65%, depending on service level; $5 per month for balances under $24,000; discounts for balances above $1 million
Account minimum: $0 for the Digital tier; $100,000 for the Premium tier
Schwab Intelligent Portfolios
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Well-known for its investor-friendly practices, Schwab brings this same spirit to its Intelligent Portfolios service, with features such as rebalancing, automatic tax-loss harvesting (on accounts with more than $50,000) and 24/7 access to U.S.-based customer service. Best of all, Schwab charges no management fee for the basic membership tier. If you want unlimited access to human advisors, you can get it if you bring $25,000 to the account and pay a one-time set-up fee and $30 monthly fee – a real bargain for what you get.
Management fee: $0 for basic tier, $30 per month for Premium tier and on-time $300 set-up fee
Account minimum: $5,000 for the basic tier; $25,000 for Premium
Wealthfront
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One of the largest robo-advisors, Wealthfront offers goal-based investing that helps you understand how your financial choices today affect your future. Wealthfront also provides tax-loss harvesting, direct indexing and can build you an automated bond ladder. Another unusual feature for a robo-advisor is the ability to trade stocks and ETFs (commission-free), so you can make a truly custom portfolio. Plus, the firm provides a competitive interest rate on its no-fee FDIC-insured cash management account (a 2025 Bankrate Awards winner). Also useful, you can borrow against the value of your account at especially attractive interest rates.
Management fee: 0.25%
Account minimum: $500
Fidelity Go
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Long known for its brokerage, Fidelity Investments also offers a highly capable robo-advisor, with the core functions (portfolio management, rebalancing) at a price that helps beginners get started. It charges no fees if your assets are under $25,000. From there, you’ll pay one low all-in price of 0.35% of your assets. Fidelity Go makes an especially good fit for existing customers, since they’ll be able to access all their accounts on one dashboard and easily open a cash management account if they need one. And you get Fidelity’s helpful and friendly customer support staff on top of it all.
Management fee: $0 for accounts with less than $25,000; 0.35% above $25,000 in assets
Account minimum: $0, but need $10 to start investing
Interactive Advisors
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With Interactive Advisors, you get to pick the portfolio you want — either from a list of more than 60 thematic portfolios from outside investors (with ongoing management required by you) or a more traditional Asset Allocation portfolio from the company that is automatically rebalanced quarterly. While the fees vary widely, you’ll have solid low-cost choices. You’ll also receive a weekly client email and be able to access educational resources through Interactive Brokers. Customer support is available Monday through Friday during normal business hours.
Management fee: 0.20% for Asset Allocation portfolios; 0.10% to 0.75% for thematic portfolios
Account minimum: $100
M1 Finance
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M1 Finance isn’t technically a robo-advisor — it’s a broker — but it employs some robo-like features. You’ll be able to build out your own custom portfolio and then set it on autopilot and let M1 do the rest. It comes with a solid high-yield savings account, too. You’ll be able to get started with just $100 for a taxable account and M1 offers fractional shares, so the full amount will be invested. M1 doesn't offer tax-loss harvesting.
Management fee: No management fee, but accounts with less than $10,000 or without a personal loan pay $3 per month
Account minimum: $100 for taxable accounts; $500 for retirement accounts
Honorable mentions
The following robo-advisors scored well in our reviews and deserve an honorable mention.
Ally Invest Robo Portfolios
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Ally Invest Robo Portfolios offers a no-management-fee option in return for keeping 30% of your portfolio in cash. For a more fully invested portfolio, built using low-cost funds, you’ll pay 0.30% annually. Automatic portfolio rebalancing is included, but tax-loss harvesting isn’t available and fractional shares are only offered on reinvested dividends.
Bankrate overall rating: 4 out of 5
Empower
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Formerly Personal Capital, Empower provides unlimited access to human advisors who customize a portfolio to your needs while offering other perks such as tax-loss harvesting. But you’ll pay one of the highest management fees (0.49% to 0.89% based on account balance), though likely less than at a traditional advisor, and must meet the $100,000 investment minimum to open an account.
Bankrate overall rating: 4 out of 5
Wells Fargo Intuitive Investor
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Wells Fargo Intuitive Investor offers the core robo-advisor features (portfolio management and rebalancing) and then kicks it up with tax-loss harvesting. If you’re already a Wells customer, it could make extra sense to check out this robo-advisor. Not only can you consolidate your accounts at one company, but Wells will knock down its usual management fee of 0.35% to 0.30% if you have a Wells Fargo checking account, or down to 0.25% when linked to a Wells Fargo Premier Checking or Private Bank Interest Checking account. Wells Intuitive Investor also offers fractional shares, allowing you to get your full investment to work immediately, and you’ll have access to human advisors.
Bankrate overall rating: 4 out of 5
What is a robo-advisor?
A robo-advisor is an automated online or app-based financial advisory service that uses an algorithm to manage your money.
Based on your investment goals (when you need the money) and how much risk you’re comfortable taking, the robo-advisor will:
- Construct an appropriate investment portfolio. Using sound investment theory, the robo-advisor selects a mix of exchange-traded funds (ETFs) to build a diversified portfolio designed to best meet your goals.
- Provide ongoing portfolio management. The algorithm keeps tabs on your investment mix over time and automatically adjusts your holdings by rebalancing assets (selling some, buying more of others) to keep you on track.
- Make tax-minimizing investment moves. Thanks to automation, robo-advisors can make easy work of the money-saving strategy of tax-loss harvesting (writing off losses to offset gains in other areas of your portfolio).
Because all of these services are automated and done digitally, getting professional investment management using a robo-advisor is generally more affordable than traditional in-person money management.
How much does a robo-advisor cost?
While the costs vary across companies, robo-advisors are generally more affordable than traditional financial advisors who may charge 1% or more of the assets they manage for you. With an automated investing service, costs fall under two major components.
- Management fees: This fee is typically 0.25% to 0.5% of your assets on an annual basis, though fees may be lower or higher. Based on those percentages, every $10,000 invested would incur management fees of $25 to $50 each year.
- Investment expense ratios: Generally, robo-advisors invest your money in various funds (ETFs and/or mutual funds) that also charge fees. The fees can vary widely, but across a portfolio they typically range from 0.05% to 0.25%, costing $5 to $25 annually for every $10,000 invested. These fees are deducted proportionally on a daily basis by the fund company, and they will be almost invisible to you.
Although rare, you may encounter monthly account maintenance fees or subscription fees, but you can often avoid them by maintaining a certain account balance or signing up for automated monthly account deposits.
Outside of management and investment fees, you don't have to worry about paying extra, for example, to adjust your allocation if your risk tolerance or financial goals change. (For any services outside of the norm, look for the robo-advisor's fee disclosure or contact customer service.)
How to choose a robo-advisor
The most important things to consider when choosing a robo-advisor are:
- Account types and minimums: Make sure any robo-advisor you’re considering has the account type that you’re looking to open. Most robo-advisors offer individual taxable investment accounts, but not all of them offer popular retirement accounts such as traditional and Roth IRAs. Account minimums can also vary between advisors and range from nothing to tens of thousands of dollars.
- Management fees and investment expense ratios: Make sure to understand the annual management fee you’ll be charged as well as the fees associated with the ETFs (the expense ratios) that will comprise your portfolio. Some of the more expensive ETFs offered could push your overall fees to near 1%, which is on par with what a traditional financial advisor might charge.
- Additional money management features: Keep an eye out for additional features offered beyond the basic portfolio building. Some robo-advisors offer automatic daily rebalancing of your portfolio, which will ensure your allocations remain in the recommended range. Tax-loss harvesting is another option that some platforms offer to help you save on taxes in an individual or joint taxable account.
- Customer support and access to human advisors: When something goes wrong, it’s nice to be able to find a solution quickly. Consider what hours you’ll be able to reach someone with questions about your account. Some robo-advisors give you the option of speaking with a human financial advisor for help with more complex questions.
Top reasons to choose a robo-advisor
A robo-advisor is a solid pick if you:
- Want a professional to manage your money and develop a financial plan
- Are looking to start investing and want to go slowly and safely
- Want an alternative to a human advisor at a low cost
- Would prefer not to spend much of your time on investments
- Don’t understand the markets or want to learn
- Want an account where you deposit money and everything is done for you
- Want a diversified portfolio that can help you retire
These reasons all center around the robo-advisor using its expertise to save you time, money and annoyance. Thus, a robo-advisor can make sense for new investors who want to learn how investing works or seasoned ones who don’t want to manage their portfolio.
Disadvantages of using a robo-advisor
A robo-advisor is a good investing choice for many kinds of investors, but it may not fit everyone. Here are some disadvantages of using a robo-advisor:
- Lack of investment choice: If you want to choose your investments, a robo-advisor likely won’t be a good option. Robo-advisors usually select the investments and make the decisions, and only a few allow you discretion in what to invest in.
- No guarantee of performance: Robo-advisors invest in stocks and bonds, and the prices of these assets can fluctuate a lot, especially in the short term. These are riskier investments than bank products, and a robo-advisor does not promise performance.
- No human to keep you on track: Many robo-advisors operate a strictly automated model and may charge an extra fee to speak with a human advisor. Human advisors can be great at keeping you focused and motivated to stick with your financial goals.
- Better for routine needs: Some robo-advisors are designed to help you with one or two goals, such as retirement, or routine needs. People with more complex situations may want another solution, such as the option to consult with a human financial professional.
Bottom line
The biggest advantage of opening a robo-advisor account is having an experienced company manage your investments for a reasonable fee. Once you’ve opened the account, make sure to set up recurring transfers to boost your savings over time and reap the benefits of dollar-cost averaging. With their hands-off approach to investing, robos have made it easier than ever to open an account and get started on the path to financial security.
Note: Maurie Backman contributed to this story.
Editorial Disclaimer: All investors are advised to conduct their own independent research into investment strategies before making an investment decision. In addition, investors are advised that past investment product performance is no guarantee of future price appreciation.
