Best Robo Advisors For Beginners
Discover 5 deals available this month.
1.Fidelity Go
Fidelity Go charges no advisory fees for accounts under $25,000 and a 0.35% fee for larger balances, offering simple portfolio management and Fidelity's customer support. It’s designed for beginners seeking low-cost investing with professional backing.
View Deal →Fidelity Go stands out by providing fee-free investing for smaller accounts and straightforward management, making it a practical choice for new investors starting out. The added benefit of Fidelity’s customer service support enhances its appeal.
Pros:
- No advisory fees for accounts under $25,000
- Low 0.35% fee for accounts over $25,000
- Simple, easy-to-use portfolio management
- Access to Fidelity's customer support
Cons:
- Higher fees once account balance exceeds $25,000
- Limited advanced features compared to some competitors
- No tax-loss harvesting or automatic rebalancing mentioned
2.Schwab Intelligent Portfolios
Schwab Intelligent Portfolios charges no management fees for its basic tier and offers automatic rebalancing with tax-loss harvesting for larger accounts. It is designed for cost-conscious US investors seeking automated portfolio management.
View Deal →Cost-conscious investors will find Schwab Intelligent Portfolios attractive due to its no-fee basic service and helpful automated features like rebalancing and tax-loss harvesting.
Pros:
- No management fees for the basic tier
- Automatic portfolio rebalancing
- Tax-loss harvesting available on larger accounts
Cons:
- Tax-loss harvesting only applies to larger accounts
- Limited information on human advisor support
- May not offer as many advanced features as some competitors
3.Vanguard Digital Advisor
Vanguard Digital Advisor charges a low 0.15% annual fee with a $100 minimum investment and uses low-cost Vanguard ETFs. New users pay no fees for the first 90 days, making it suitable for retirement-focused beginners.
View Deal →Retirement-focused beginners will find Vanguard Digital Advisor appealing due to its low fees and no-cost trial period. Its straightforward investment in Vanguard ETFs keeps costs down while providing solid portfolio management.
Pros:
- Low annual fee of 0.15%
- No fees for the first 90 days
- Low $100 minimum investment
- Invests in low-cost Vanguard ETFs
Cons:
- Limited advanced features compared to some competitors
- Primarily geared toward retirement-focused portfolios
- No mention of tax-loss harvesting or human advisor access
4.Betterment
Betterment offers advanced features like tax-loss harvesting, goal-based investing, fractional shares, and portfolio customization, with an option for premium human advice.
View Deal →Betterment stands out with its customizable portfolios and goal-oriented tools, plus access to human advisors for personalized support.
Pros:
- Includes tax-loss harvesting to optimize returns
- Supports goal-based investing for tailored plans
- Allows fractional shares for flexible investments
- Offers premium human advice option for personalized guidance
Cons:
- Premium advice comes at an additional cost
- No specific mention of minimum investment amount
- May be more complex for absolute beginners due to advanced features
5.Wealthfront
Wealthfront offers low fees, advanced tax-loss harvesting, and a variety of account options with helpful planning tools. It requires a $500 minimum investment, making it better for more committed beginners.
View Deal →Wealthfront stands out for its strong tax strategies and comprehensive planning tools, appealing to investors ready to commit at least $500. It combines diverse account options with low fees to support growing portfolios.
Pros:
- Low management fees
- Advanced tax-loss harvesting features
- Multiple account types available
- Robust financial planning tools
Cons:
- $500 minimum investment may be high for some beginners
- Less ideal for those wanting a no-minimum option
- May be overwhelming for very new investors
Final Words
Take time to compare the features, fees, and minimums of top robo advisors like Fidelity Go and Vanguard Digital Advisor to find the best fit for your investing goals. You can explore current offers and promotions to maximize value as you begin your automated investment journey.
Frequently Asked Questions
Fidelity Go is a top pick for beginners because it offers no advisory fees for accounts under $25,000 and has a low $10 minimum investment. Its simple, automated portfolios make it ideal for hands-off investors starting out.
Fidelity Go requires a low minimum investment of $10, making it accessible for new investors who want to start with a small amount.
No, Fidelity Go charges no advisory fees for account balances under $25,000, which helps beginners keep costs low while they build their portfolio.
Look for low fees, low minimum investments, and simple automated portfolios that require minimal hands-on management. Features like tax-loss harvesting and goal-based investing can also be helpful as you grow more comfortable.
Vanguard Digital Advisor has a low 0.15%-0.25% fee with a $100 minimum and offers no advisory fees for the first 90 days, while Schwab Intelligent Portfolios has no management fee on its basic tier and includes automated rebalancing and tax-loss harvesting for accounts over $50,000.
Yes, Betterment allows beginners to start investing with no minimum deposit and offers advanced features like tax-loss harvesting and goal-based investing to customize your experience.
