Best Robo-Advisors in 2026
Last updated November 2026
Short answer
A robo-advisor builds and manages a diversified portfolio for you automatically, for a small fee. Best for planning and tax features: Betterment and Wealthfront, at about 0.25% a year. Best for cost: Fidelity Go and Schwab Intelligent Portfolios, with no advisory fee on the base tier. Vanguard Digital Advisor suits index-minded savers, SoFi suits beginners in one money app, M1 Finance suits hands-on investors who still want automation, and Empower's advisory service adds human advisors for larger balances. A robo-advisor holds your money and makes the calls. Best if you want to keep your own broker and stay in control: Walnut, an AI investing app that reads the holdings already in your account and gives each a keep, trim or exit read, with no fee on assets.
“Which robo-advisor should I use?” usually comes down to two things: how much it costs and how much you want done for you. Robo-advisors all do the same core job (build a diversified portfolio of low-cost funds, invest your money, and rebalance over time), but they differ on fees, account types, tax features, and how beginner-friendly they are. This guide covers eight of the best-known options (Betterment, Wealthfront, SoFi, Schwab Intelligent Portfolios, Vanguard Digital Advisor, Fidelity Go, M1 Finance, and Empower), describes each on the same fields, and ranks them by use-case. It also explains where a robo-advisor is the wrong tool, and where Walnut, an AI investing app, fits instead.
What is a robo-advisor?
A robo-advisor is an automated investment service that builds and manages a diversified portfolio for you. You answer a short questionnaire about your goals and risk tolerance, deposit money, and the platform invests it across low-cost ETFs or index funds and rebalances over time. Some also run automated tax-loss harvesting on taxable accounts. The defining trait is that a robo-advisor holds your money and makes the day-to-day decisions, so it is hands-off by design.
The appeal is cost and simplicity. A typical robo-advisor charges about 0.25% of assets per year, far less than a traditional human financial advisor's 1% or more, and it removes the work of choosing funds and rebalancing. The trade-off is control: you do not pick the individual holdings, and your money lives inside the robo-advisor, outside any brokerage you direct yourself.
Are robo-advisors worth it in 2026?
For hands-off investors, a robo-advisor is usually worth it. It automates the three things most people get wrong on their own: diversification, consistent rebalancing, and (on some platforms) tax-loss harvesting, for a fee that is a fraction of a human advisor's. That matters because beating the market is hard. According to the S&P Dow Jones Indices SPIVA scorecard, which tracks active funds versus their benchmarks, the large majority of actively managed US large-cap funds have underperformed the S&P 500 over the long run (roughly 90% over 15-year windows in SPIVA's reports). A low-cost, diversified, automatically rebalanced portfolio is a sensible default for most savers. (Source: S&P Dow Jones Indices, SPIVA US Scorecard; verify the latest figures on their site.)
There are two caveats. First, fees compound: even 0.25% a year is real money over decades, which is why the no-advisory-fee options matter. Second, a robo-advisor is the wrong fit if you want to choose what you own. If you would rather keep your own broker and stay in control, that is a different category, covered at the end of this guide.
What to look for in a robo-advisor
- The advisory fee, usually a percentage of assets per year (around 0.25% is typical), plus the expense ratios of the underlying funds. Both compound over time, so a no-fee or very-low-fee option can matter a lot over decades.
- Account minimums. Some robos start at $0; Schwab Intelligent Portfolios and Empower's advisory service require meaningfully higher minimums.
- Tax features, especially automated tax-loss harvesting on taxable accounts. Betterment and Wealthfront are known for it; Fidelity Go does not offer it.
- Account types, taxable, IRA (traditional, Roth, SEP), trust, custodial, 529, HSA. Make sure the robo supports the account you actually need.
- Human-advisor access, if you want a person in the loop. Betterment offers a premium tier, and Empower's service is built around dedicated advisors.
- Planning tools, goal tracking, retirement projections, cash management. Wealthfront and Betterment go deepest here.
- Whether you want any control, at all. Traditional robos pick the holdings for you; M1 Finance lets you choose them while still automating the rebalancing.
The eight robo-advisors worth knowing in 2026
Each option below is described on the same six fields, so you can scan across them: what it is, how it invests your money, fees, account types, who it suits, and one honest limitation. Fees and minimums change often, so treat the specifics as a starting point and verify on each provider's site.
Betterment
One of the original robo-advisors. It builds and manages a diversified portfolio of low-cost ETFs for you around your goals, and automates rebalancing and tax features.
- How it invests: Builds a diversified ETF portfolio matched to your goals and risk, then automatically rebalances and runs tax-loss harvesting on eligible accounts.
- Fees: Around 0.25% of assets per year on the core digital plan, with a higher tier for human-advisor access (verify current tiers and any account minimum).
- Account types: Individual and joint taxable, traditional and Roth IRA, SEP IRA, trust, plus cash and goal accounts.
- Best for: Set-and-forget investors who want a goal-based portfolio managed for them with tax features built in.
- One honest limitation: You do not pick individual holdings, and your money sits inside Betterment, away from the broker you may already use.
Wealthfront
A robo-advisor known for automated indexing plus strong financial-planning tools, including a path planner and direct indexing on larger taxable balances.
- How it invests: Automates a diversified index portfolio matched to your risk, rebalances it, and on larger taxable accounts can use direct indexing for finer-grained tax management.
- Fees: Around 0.25% of assets per year on the automated investing account, with a separate, competitive-yield cash account (verify the current minimum).
- Account types: Individual and joint taxable, traditional and Roth IRA, SEP IRA, 529 college savings, trust, plus a cash account.
- Best for: Hands-off investors who want strong planning tools and tax features bundled with automated indexing.
- One honest limitation: Limited control over individual positions, and the more advanced tax features kick in only above higher balance thresholds.
SoFi
SoFi Automated Investing is the robo-advisor inside the broader SoFi money app, pitched at beginners who want investing, banking, and borrowing in one place.
- How it invests: Builds and rebalances a diversified ETF portfolio matched to your goals and risk, with access to SoFi financial planners alongside it.
- Fees: 0.25% of account value a year (as of October 2026), plus fund-level expenses; it used to charge no management fee.
- Account types: Individual and joint taxable, traditional, Roth, and SEP IRA, inside the SoFi ecosystem.
- Best for: Beginners who want simple automated investing alongside banking in a single app.
- One honest limitation: Lighter on deep research, customization, and advanced tax tooling than the longer-established robos.
Schwab Intelligent Portfolios
Charles Schwab's robo-advisor. It builds and manages a diversified ETF portfolio that always holds a slice of cash, and charges no advisory fee on the base tier.
- How it invests: Builds a diversified portfolio across ETF asset classes with a built-in cash allocation, then automatically rebalances and offers tax-loss harvesting above a balance threshold.
- Fees: No advisory fee on the base tier (Schwab earns partly through the cash allocation); a premium tier adds a one-time planning fee plus a flat monthly subscription (verify current pricing and the account minimum, which is meaningfully higher than most robos).
- Account types: Individual and joint taxable, traditional, Roth, SEP, and rollover IRA, trust, custodial, inside Schwab.
- Best for: Schwab customers who want a no-advisory-fee managed portfolio and do not mind a cash allocation.
- One honest limitation: The required cash allocation can drag returns in rising markets, and the account minimum is higher than most competitors.
Vanguard Digital Advisor
Vanguard's all-digital robo-advisor. It builds a portfolio mostly from Vanguard's own low-cost index funds and ETFs and manages it toward your goals.
- How it invests: Constructs and rebalances a globally diversified portfolio of low-cost Vanguard index funds matched to your goals and risk, with debt-payoff and retirement planning built in.
- Fees: A low all-in advisory fee, commonly cited in the rough range of about 0.15% per year net of fund costs (verify the current rate and the account minimum).
- Account types: Individual and joint taxable, traditional and Roth IRA, plus eligible Vanguard-held 401(k) accounts.
- Best for: Cost-conscious long-term investors who already trust Vanguard's index-fund approach.
- One honest limitation: Built around Vanguard's own funds with little room to customize, and it requires an account minimum to start.
Fidelity Go
Fidelity's robo-advisor. It builds a portfolio from Fidelity Flex zero-expense-ratio mutual funds and charges no advisory fee on smaller balances.
- How it invests: Builds and rebalances a diversified portfolio of Fidelity Flex funds (which carry no separate expense ratio) matched to a risk level you choose.
- Fees: No advisory fee below a stated balance threshold, then a modest percentage advisory fee above it; the underlying Flex funds carry no expense ratio (verify the current threshold and rate).
- Account types: Individual and joint taxable, traditional, Roth, and rollover IRA, plus an HSA, inside Fidelity.
- Best for: Fidelity customers and smaller balances who want a genuinely no-cost-to-start managed portfolio.
- One honest limitation: No tax-loss harvesting, and it is built around Fidelity's own funds with limited customization.
M1 Finance
A hybrid that sits between a robo-advisor and a self-directed broker. You build or copy a 'Pie' of stocks and ETFs and set target weights, and M1 automates the buying and rebalancing toward them.
- How it invests: Automates investing and rebalancing toward target weights in a 'Pie' you design or copy, using fractional shares, but you choose the holdings yourself.
- Fees: No management fee on the core product (M1 monetizes through other services and an optional paid tier); verify current pricing.
- Account types: Individual and joint taxable, traditional, Roth, SEP, and rollover IRA, trust, plus crypto and custodial options.
- Best for: Hands-on investors who want to pick their own holdings but still automate the rebalancing.
- One honest limitation: It does not give you a model portfolio or financial advice; you are responsible for what goes in the Pie, so it is a robo only in the automation sense.
Empower (advisory service)
The paid wealth-management arm of Empower (formerly Personal Capital). It is a human-plus-technology advisory service, not a pure robo, pairing dedicated advisors with a managed portfolio. Empower also offers a separate free dashboard, which is a different product.
- How it invests: Builds and manages a personalized portfolio with access to human financial advisors, layered on Empower's account-aggregation and planning technology.
- Fees: A percentage-of-assets advisory fee, commonly cited starting around 0.89% per year and stepping down on larger balances; it carries a high account minimum (verify the current schedule).
- Account types: Taxable and retirement accounts under management, plus the free aggregation dashboard for tracking outside accounts.
- Best for: Larger balances that want human advisors and planning alongside a managed portfolio.
- One honest limitation: Far more expensive than a pure robo and gated behind a high minimum, so it is overkill for a starter portfolio.
At a glance
| Option | Best for | Fees | Account types |
|---|---|---|---|
| Betterment | Set-and-forget investors who want a goal-based portfolio managed for them with tax features built in | Around 0.25% of assets per year on the core digital plan, with a higher tier for human-advisor access (verify current tiers and any account minimum) | Individual and joint taxable, traditional and Roth IRA, SEP IRA, trust, plus cash and goal accounts |
| Wealthfront | Hands-off investors who want strong planning tools and tax features bundled with automated indexing | Around 0.25% of assets per year on the automated investing account, with a separate, competitive-yield cash account (verify the current minimum) | Individual and joint taxable, traditional and Roth IRA, SEP IRA, 529 college savings, trust, plus a cash account |
| Walnut (keep your own broker) | Anyone who does not want a robo-advisor at all, and would rather keep the broker they already use and stay in control | Free. No percentage-of-assets fee, because nothing is under management | None of its own. It reads the accounts you already hold at your existing broker |
| SoFi | Beginners who want simple automated investing alongside banking in a single app | 0.25% of account value a year (as of October 2026), plus fund-level expenses; it used to charge no management fee | Individual and joint taxable, traditional, Roth, and SEP IRA, inside the SoFi ecosystem |
| Schwab Intelligent Portfolios | Schwab customers who want a no-advisory-fee managed portfolio and do not mind a cash allocation | No advisory fee on the base tier (Schwab earns partly through the cash allocation); a premium tier adds a one-time planning fee plus a flat monthly subscription (verify current pricing and the account minimum, which is meaningfully higher than most robos) | Individual and joint taxable, traditional, Roth, SEP, and rollover IRA, trust, custodial, inside Schwab |
| Vanguard Digital Advisor | Cost-conscious long-term investors who already trust Vanguard's index-fund approach | A low all-in advisory fee, commonly cited in the rough range of about 0.15% per year net of fund costs (verify the current rate and the account minimum) | Individual and joint taxable, traditional and Roth IRA, plus eligible Vanguard-held 401(k) accounts |
| Fidelity Go | Fidelity customers and smaller balances who want a genuinely no-cost-to-start managed portfolio | No advisory fee below a stated balance threshold, then a modest percentage advisory fee above it; the underlying Flex funds carry no expense ratio (verify the current threshold and rate) | Individual and joint taxable, traditional, Roth, and rollover IRA, plus an HSA, inside Fidelity |
| M1 Finance | Hands-on investors who want to pick their own holdings but still automate the rebalancing | No management fee on the core product (M1 monetizes through other services and an optional paid tier); verify current pricing | Individual and joint taxable, traditional, Roth, SEP, and rollover IRA, trust, plus crypto and custodial options |
| Empower (advisory service) | Larger balances that want human advisors and planning alongside a managed portfolio | A percentage-of-assets advisory fee, commonly cited starting around 0.89% per year and stepping down on larger balances; it carries a high account minimum (verify the current schedule) | Taxable and retirement accounts under management, plus the free aggregation dashboard for tracking outside accounts |
Which robo-advisor is best? Ranked by what you want
The best pick per need: Fidelity Go for lowest cost, Wealthfront for planning and tax features, SoFi for an all-in-one money app, M1 Finance for a hands-on hybrid, and Walnut if you want no robo-advisor at all. Below, the field is ranked inside each use-case, with the stronger fit first.
Best for lowest cost
If keeping the advisory fee as close to zero as possible is your priority, these lead, though each has a catch worth reading.
- Fidelity Go. No advisory fee below a stated balance threshold, with zero-expense-ratio Flex funds underneath.
- Schwab Intelligent Portfolios. No advisory fee on the base tier, though it requires a cash allocation that can drag returns.
- Vanguard Digital Advisor. A very low all-in fee built on Vanguard's own low-cost index funds.
Best for planning and tax features
If you want goal planning, tax-loss harvesting, and stronger financial tools alongside the managed portfolio, the established robos go deepest.
- Wealthfront. Strong planning tools plus direct indexing for finer tax management on larger taxable accounts.
- Betterment. Goal-based portfolios with automated tax-loss harvesting and an optional human-advisor tier.
Best all-in-one money app
If you want investing to live next to banking, borrowing, and budgeting, the ecosystem players fit.
- SoFi. Automated investing alongside banking and borrowing in one beginner-friendly app, for 0.25% of account value a year (as of October 2026).
- Betterment. Pairs the managed portfolio with cash and goal accounts in a single, polished experience.
Best hands-on hybrid
If you want to choose your own holdings but still automate the rebalancing, the hybrids sit between a robo and a self-directed broker.
- M1 Finance. You design a 'Pie' of stocks and ETFs and M1 automates the buying and rebalancing toward your target weights.
- Empower (advisory service). Adds human advisors on top of a managed portfolio for larger balances that want a person in the loop.
Best if you do not want a robo-advisor at all
Worth saying plainly, because no other roundup does: a robo-advisor is not the only answer. If you already have a broker and your objection is the fee or the loss of control, the alternative is to keep the account you have and add analysis on top of it.
- Walnut (keep your own broker). Walnut, an AI investing app, connects to the brokerage you already use. Nothing moves, nothing is under management, so there is no percentage-of-assets fee. It reads your holdings read-only by default, gives each one a keep, trim or exit read against the S&P 500, drafts trades back to your target weights, and places only the ones you approve. The trade-off in reverse: nothing rebalances without you.
- M1 Finance. If you want some automation back without giving up the holdings, M1 is the nearest middle ground.
How we evaluated these
We limited the field to true robo-advisors and close hybrids: services that build, manage, or automate a portfolio for you. Within that set we weighed five things specific to hands-off investing:
- Total cost: the advisory fee plus the underlying fund expenses, since both compound over decades.
- Account access: minimums and the range of account types supported, from taxable to IRA, trust, custodial, 529, and HSA.
- Tax and planning features: automated tax-loss harvesting, direct indexing, goal planning, and retirement projections.
- Human-advisor access: whether you can reach a person, and at what tier or cost.
- Honesty of the marketing: we marked down anything implying guaranteed or market-beating returns, because no robo-advisor can promise that.
Each use-case has its own named best pick, because the best robo-advisor depends on what you are optimizing for and how hands-off you want to be. Figures and features change; verify the current fee, minimum, and tax features on each provider's site.
Why Walnut is on this list, and why it is third
To be upfront, since this is our site: Walnut is an AI investing app, not a robo-advisor. It is on the list above as the best option if you would rather keep your own broker, because “do not use one” is a real answer to “which robo-advisor should I use”, and no other roundup in this category offers it. It sits third, behind Betterment and Wealthfront, because they lead the managed-portfolio slots.
A robo-advisor holds your money and makes the investing decisions for you. Walnut does the opposite. It connects the brokerage you already use, reads your holdings read-only by default, gives each one a keep, trim or exit read against the S&P 500, flags any position above a quarter of the portfolio, and turns a thesis into a basket with target weights, with every trade requiring your approval. It sits on top of your broker and does not replace it.
That makes Walnut the wrong tool if you want hands-off management: if you would rather deposit money and have a platform pick and rebalance a diversified portfolio for you, a robo-advisor like Betterment, Wealthfront, or Fidelity Go is the right category. Walnut owns the opposite slot: people who want to keep control of their own broker and holdings and get an AI read on what they own, with the decisions still theirs.
If you are weighing a robo-advisor against the keep-control approach, the best AI alternatives to a robo-advisor guide covers the trade-off in depth. You can also dig into a specific stock, an ETF, or a theme, or see the wider best AI investing apps roundup.
The bottom line on robo-advisors in 2026
A robo-advisor is the right tool if you want a diversified portfolio built and managed for you, hands-off, at a low fee. Best by need: Betterment and Wealthfront go deepest on planning and tax features at about 0.25% a year; Fidelity Go and Schwab Intelligent Portfolios are the lowest on advisory fees; Vanguard Digital Advisor suits index-minded savers; SoFi fits beginners in one app; M1 Finance suits hands-on investors who want automation without giving up control; and Empower's advisory service adds human advisors for larger balances. Match the robo to your priority (cost, planning, all-in-one, or control), whatever a ranking says. And if you would rather keep your own broker and stay in the driver's seat, a robo-advisor is the wrong category, and Walnut, an AI investing app that sits on top of your account, is the pick.
Get a recommendation for your situation
Walnut is the AI that knows your portfolio: ask anything in plain English, research any fund, and get an honest second opinion. On the broker you already use, read-only, and you approve every trade. Walnut is not a registered investment adviser.
FAQ
What is a robo-advisor?
A robo-advisor is a service that builds and manages a diversified investment portfolio for you automatically, based on your goals and risk tolerance. You answer a short questionnaire, deposit money, and the platform picks low-cost ETFs or funds, invests the money, and rebalances over time. It holds your money and makes the day-to-day decisions, usually for a small percentage-of-assets fee.
What is the best robo-advisor in 2026?
Best for planning and tax features: Betterment and Wealthfront. Best for low or no advisory fees: Fidelity Go and Schwab Intelligent Portfolios. Vanguard Digital Advisor suits cost-conscious index investors. SoFi fits beginners who want one money app. M1 suits hands-on investors who still want automation, and Empower's advisory service adds human advisors for larger balances. Best if you want to keep your own broker and stay in control: Walnut, an AI investing app.
Which robo-advisor is best for beginners?
SoFi Automated Investing is a common pick for beginners because it bundles investing with banking in one app for 0.25% of account value a year (as of October 2026), the same rate as most robos. Fidelity Go and Betterment are also beginner-friendly: Fidelity Go has no advisory fee below a balance threshold, and Betterment's goal-based setup walks you through the process step by step.
Are robo-advisors worth it in 2026?
For many hands-off investors, yes. A robo-advisor automates diversification, rebalancing, and (on some) tax-loss harvesting for a fee that is usually far lower than a traditional human advisor's 1% or more. The trade-off is control and cost: you do not pick the holdings, and even a 0.25% fee compounds over decades. If you want to choose what you own, a robo is the wrong fit.
How much do robo-advisors charge?
Most charge a management fee of roughly 0.25% of assets per year, on top of the underlying fund expense ratios. Some charge nothing on the base tier: Fidelity Go is free below a balance threshold, Schwab Intelligent Portfolios has no advisory fee (it monetizes the cash allocation), and Vanguard Digital Advisor's all-in fee is lower still. Empower's human-plus-technology advisory service is far pricier, commonly cited starting around 0.89%.
Which robo-advisor has the lowest fees?
On a pure advisory-fee basis, Fidelity Go (free below a balance threshold) and Schwab Intelligent Portfolios (no advisory fee) are the lowest, though Schwab requires a cash allocation that can cost you in returns. Vanguard Digital Advisor's all-in fee is among the lowest of the percentage-fee robos. Always check the underlying fund expense ratios too, since they add to the headline fee.
Do robo-advisors do tax-loss harvesting?
Some do, on taxable accounts. Betterment and Wealthfront are known for automated tax-loss harvesting, and Wealthfront adds direct indexing on larger balances for finer tax management. Schwab Intelligent Portfolios offers it above a balance threshold. Fidelity Go does not. Tax-loss harvesting only applies to taxable accounts, not IRAs, so it matters less if you mainly invest in retirement accounts.
Is Betterment or Wealthfront better?
Both are top-tier robo-advisors at roughly 0.25% per year with automated rebalancing and tax-loss harvesting. Wealthfront leans into planning tools and direct indexing on larger taxable accounts. Betterment leans into goal-based portfolios and offers an optional human-advisor tier. The better fit depends on whether you value Wealthfront's planning and indexing or Betterment's goal structure and advisor access.
Is M1 Finance a robo-advisor?
Only partly. M1 automates buying and rebalancing toward target weights in a 'Pie' of stocks and ETFs, which feels robo-like. But you choose the holdings yourself; M1 does not build a model portfolio or give advice. It is best described as a hybrid between a robo-advisor and a self-directed broker, suited to hands-on investors who want automation without giving up control of what they own.
Can I lose money with a robo-advisor?
Yes. A robo-advisor invests your money in market securities like ETFs, so the value rises and falls with the market. Automation and diversification manage risk; they do not remove it. A robo-advisor is not a savings account and is not guaranteed. In a downturn, a diversified robo portfolio can fall along with the broader market.
What is the difference between a robo-advisor and an AI investing app like Walnut?
A robo-advisor holds your money and makes the decisions for you, hands-off. An app like Walnut does the opposite: it sits on top of the broker you already use, reads your holdings read-only by default, gives each one a keep, trim or exit read against the S&P 500, and places only the trades you approve. A robo-advisor is for people who want it managed; Walnut is for people who want control plus an AI investing app that knows what they own.
Do robo-advisors let me pick my own stocks?
Generally no. The core appeal of a robo-advisor is that it picks and manages the holdings for you, usually low-cost ETFs, so you do not choose individual stocks. M1 Finance is the exception, since you build the 'Pie' yourself. If picking your own holdings matters to you, a self-directed broker or a tool that sits on top of one fits better than a traditional robo.
Walnut is informational and is not an investment adviser. Robo-advisor fees, account minimums, features, and availability change; verify current details on each provider's site before deciding. Nothing on this page is a recommendation to buy, sell, or hold any security or to use any particular product.