4. Best Robo advisors

Best For Beginners: Betterment

Our Score: 9
Minimum Deposit: $0
Annual Fees: 0.25% – 0.40%
Human Advisor Access: Yes

Get Started With Betterment

Best For: Betterment is one of the simplest robo-advisors you can use. After filling out a brief investment profile and questionnaire, you decide how much you want to invest and Betterment takes care of the rest.

Betterment offers two products: a basic investment service that’s great for beginners and an upgraded service where you can access a financial advisor for a higher fee. Betterment works with several types of taxable and retirement accounts, and taxable accounts get automated tax-loss harvesting.

It also offers members a helpful all-in-one dashboard to view all of their financial accounts, including accounts outside of Betterment.

Potential Drawbacks: The most significant drawback at Betterment is its cost. The standard account charges an annual fee based on your investment balance. If you have at least $100,000 with Betterment, you can upgrade to the full financial advising service with a human advisor, but this costs even more.

Fees: The standard “Digital” account at Betterment costs 0.25% per year. The Premium plan requires a higher 0.40% annual fee. Digital plan customers can get a session with an advisor for a one-time fee of $299-$399.


  • No minimum account requirement
  • Very easy to use
  • Betterment offers other services like cash accounts
  • Uses tax-loss harvesting


  • High balance requirement for Premium Investing
  • Expensive one-time fees for meeting an advisor

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