Best Robo-Advisors of 2026

How we ranked robo-advisors

The model weights Advisory Fit and Disclosure at 25%, All-In Cost at 25%, Portfolio Construction and Rebalancing at 20%, Tax and Account Capabilities at 15%, and Human Support, Operations, and Exit at 15%. A true robo-adviser must provide ongoing discretionary management under an advisory agreement; recurring deposits or algorithmic trade execution alone do not qualify.

We compare direct advisory or subscription fees and also consider fund expense ratios, cash allocations, spreads, transfer costs, tax consequences, subscription bundles, and conflicts involving affiliated funds or cash. No platform receives credit for tax-loss harvesting as guaranteed savings. Its value depends on gains, tax rate, portfolio losses, outside accounts, wash sales, holding period, and future tax rates.

1. Wealthfront — best complete automated investing system

Wealthfront ranks first for a mature, internally consistent advisory system. The current Automated Investing Account charges 0.25% annually and requires $500 to open and maintain under the May 2026 client agreement. Wealthfront recommends an allocation from questionnaire responses, invests the account, reinvests dividends, and rebalances as the portfolio moves away from targets. Customers can customize allocations from an eligible fund menu, but changes can alter risk, tax behavior, and tracking relative to the recommendation.

Tax-loss harvesting is included in taxable Automated Investing accounts. The software looks for eligible losses, sells the position, and purchases a correlated replacement intended to preserve market exposure. Wealthfront publishes a 2026 white paper claiming that its harvesting has often generated estimated tax benefits exceeding the advisory fee. DollarScout treats that as a provider study, not a universal result. Harvesting can defer rather than permanently eliminate tax, lowers cost basis in replacements, and can be undermined by purchases in an IRA, spouse account, employer plan, or outside broker.

Account-size thresholds matter. The broad ETF portfolio and standard tax-loss harvesting do not require six figures, but U.S. Direct Indexing currently begins at $100,000 in an eligible taxable Automated Index Investing account, while Smart Beta begins at $500,000. Those advanced strategies hold many individual stocks and introduce tracking, transition, and tax-lot complexity. A $2,000 beginner should evaluate the core ETF service, not marketing for a future tier.

At 0.25%, the advisory fee is approximately $1.25 per year on the $500 minimum, $25 on $10,000, and $250 on $100,000, before fund expenses and any other product costs. The percentage model scales cleanly, although the dollar fee grows with assets even when the software workflow is unchanged. A one-fund target-date solution could cost less for a simple retirement allocation.

Wealthfront's limitation is the digital-first relationship. The questionnaire and software drive the advice, and the service does not replace an adviser coordinating complex estate, concentrated equity, stock compensation, insurance, debt, or multiyear tax planning. It ranks first for an investor who wants documented automated management and is comfortable handling those broader questions elsewhere.

2. E*TRADE Core Portfolios — best full-service hybrid path

E*TRADE Core Portfolios ranks second with a $500 minimum and a 0.30% annual advisory fee, described as $1.50 or 0.30% annually at the minimum depending on account value and billing. The service uses a questionnaire to create a diversified portfolio selected by the advisory team, monitors it, and rebalances as needed. Socially responsible and other customization choices are available under current product descriptions.

The principal advantage is the surrounding institution. A customer can pair Core Portfolios with E*TRADE's self-directed brokerage, retirement accounts, extensive education, research, and Morgan Stanley resources. That does not mean every E*TRADE representative provides personal planning under the Core Portfolios fee. Prospective clients should ask which support staff can discuss the portfolio, whether advice is fiduciary for the conversation, and whether broader planning requires another service.

E*TRADE now advertises tax-loss harvesting for eligible Core Portfolios taxable accounts. The feature can create losses and replacement positions; it cannot know about every trade in an outside account unless the client supplies or coordinates that information. Ask whether harvesting is automatic or threshold-based, how replacement ETFs are selected, how restricted holdings are handled, and what occurs when the account transfers.

At 0.30%, the advisory fee is about $1.50 on $500, $30 on $10,000, and $300 on $100,000 per year before underlying fund expenses. It is five basis points more than Wealthfront and Robinhood Strategies. That difference is $5 per year at $10,000 and $50 at $100,000; service, portfolio, cash, taxes, and fund costs can matter more than five basis points.

Core Portfolios ranks second because it balances automation with a conventional brokerage ecosystem. It is weaker than Wealthfront for a customer seeking the most developed digital tax-management stack and weaker than a full human-adviser relationship for complex planning. Its best fit is an investor who values E*TRADE account integration and wants management without choosing each holding.

3. Robinhood Strategies — best low-entry percentage-fee adviser

Robinhood Strategies ranks third because the managed account starts at $50 and charges 0.25% of assets annually. Robinhood describes that as $2.50 per year for each $1,000, accrued daily and charged monthly. An account below $500 is invested in ETFs; at $500 or more, the portfolio may combine ETFs and individual stocks. That is a meaningful portfolio change around a small threshold, so clients should inspect the exact recommendation rather than assume every balance receives the same strategy.

Eligible Robinhood Gold members pay the management fee only on the first $100,000 in each managed account under current terms. Gold itself costs $5 monthly or $50 annually. A user should not subscribe only for the fee cap without doing the arithmetic: below $100,000 the cap provides no Strategies fee reduction, and at larger balances other Gold features, terms, and alternative advisers must be compared.

Robinhood Strategies is provided by Robinhood Asset Management, an SEC-registered adviser, and is separate from the Robinhood Financial self-directed brokerage and Robinhood Crypto. The managed interface does not extend SIPC protection to crypto, guarantee returns, or make every app recommendation fiduciary advice. Customers should read both the adviser and brokerage disclosures and confirm which entity holds the assets.

The service supports restrictions on some individual stocks under current documentation, but ETFs can still create indirect exposure. It can manage taxable and retirement accounts, subject to product availability and transfer rules. Outgoing ACATS from Robinhood currently costs $100, and fractional positions may be sold rather than transferred. Accrued advisory fees can be collected on closure.

Robinhood Strategies beats Acorns for small balances because a 0.25% fee is only $1.25 annually at $500, compared with Acorns Bronze at $36 annually before fund costs. It ranks below E*TRADE because its individual-stock use, app product boundaries, and shorter operating record demand more scrutiny, and because broader human planning is not the core service.

4. Acorns — best habit automation, expensive at small balances

Acorns ranks fourth despite offering one of the most effective behavioral systems for starting. Acorns Invest recommends an ETF portfolio, supports recurring deposits, automatically reinvests dividends and rebalances, and can invest linked-card Round-Ups after accumulated change reaches the applicable threshold. Current official material says there is no account-opening minimum and investing can start with $5.

The cost model is a flat subscription, not a percentage. As of July 2026, Bronze is $3 per month, Silver $6, and Gold $12. Bronze includes Invest, Round-Ups, recurring investments, an IRA, and checking under the current package. Higher tiers add features such as IRA contribution matches for a limited period, emergency savings, children's products, custom stocks or ETFs, and other bundled benefits. Eligibility, match, holding, and subscription terms need separate review.

Flat pricing is hardest on the small balances Acorns targets. Bronze costs $36 annually: 7.2% of $500, 3.6% of $1,000, 0.72% of $5,000, and 0.36% of $10,000, before ETF expenses. At $15,000, it is about 0.24%, roughly comparable to a 0.25% adviser if every Bronze feature has value. Silver and Gold require still larger balances or substantial use of bundled features to compete on investment cost alone.

Round-Ups are a funding method, not extra return. If small purchases cause more spending, the feature can undermine the goal. A $5 daily recurring contribution is easier to budget and audit than an unpredictable stream for some users. Acorns' expert-built portfolios can be sensible, but customization and tax features are more limited than Wealthfront's; Acorns' own 2026 comparison says tax-loss harvesting is not offered.

Acorns is best for a user who has repeatedly failed to start, will use the broader bundle, and can move quickly toward a balance where the flat fee is reasonable. It ranks fourth because a robo-adviser marketed to beginners should not hide how aggressively a $3 monthly fee affects a $500 or $1,000 portfolio.

5. M1 — best self-directed automation alternative, not a robo-advisor

M1 ranks fifth to correct an important category error. M1's own February 2026 guidance says it is not a robo-advisor and does not provide investment recommendations or monitor portfolio suitability. Pies, Auto-Invest, recurring transfers, dynamic allocation of new cash, and one-click rebalancing automate the portfolio the customer selects. They do not create an ongoing advisory relationship.

For a knowledgeable self-directed investor, this can be more customizable than a conventional robo-adviser. A Pie can hold chosen stocks or ETFs at target percentages, deposits favor underweight slices, and scheduled trading reduces the need to place each order. Model Portfolios can offer starting allocations, but the customer remains responsible for assessing objective, risk, expenses, concentration, and taxes.

The platform may charge $3 monthly unless the user maintains at least $10,000 in total M1 assets or has an active M1 Personal Loan under the current waiver. M1 says self-directed brokerage accounts do not carry commission or management fees, but the platform fee, regulatory, transfer, ADR, closure, and other charges can still apply. An account with $1,000 therefore pays the same $36 annual platform charge as a $9,000 account before the waiver threshold.

One-click rebalancing can sell appreciated holdings and create taxable gains. Dynamic rebalancing with contributions may reduce selling but does not guarantee that targets stay exact. M1 does not provide automated tax-loss harvesting comparable to Wealthfront's managed service, and trade windows limit execution timing.

M1 belongs on this page only as an alternative for readers who do not need advice. It should not be compared dollar-for-dollar with a 0.25% adviser without valuing the missing suitability assessment, discretionary management, tax tools, and advisory duties.

Robo-advisor comparison

Compare cost at your balance

For a $1,000 account, a 0.25% adviser costs about $2.50 per year and a 0.30% adviser about $3, before fund expenses. Acorns Bronze and an unwaived M1 account each cost $36, equivalent to 3.6%. At $10,000, those percentage advisers cost $25 and $30; Acorns Bronze costs $36, while M1's current asset waiver may reduce the platform fee to zero if all conditions are met.

At $100,000, 0.25% is $250 and 0.30% is $300. Acorns Bronze remains $36 but offers a different service and feature set; M1 can be platform-fee-free but provides no advice. Robinhood Gold's fee cap becomes relevant only above $100,000 in a managed account and must be evaluated with the Gold subscription.

These examples exclude ETF expense ratios, bid-ask spreads, taxes, transfers, and opportunity cost from cash. Use the recommended portfolio, not a headline fee, to calculate the weighted underlying fund cost and cash allocation.

Inspect the questionnaire and recommendation

The SEC says robo-adviser recommendations depend on the information collected. Before accepting, record every question and answer. Does the questionnaire cover the specific goal, time horizon, withdrawal date, income stability, emergency reserve, high-interest debt, tax bracket, dependents, home, employer plan, concentrated stock, outside accounts, and willingness versus financial ability to lose money?

Compare the resulting allocation with the answers. Ask why each asset class is present, which index each fund tracks, whether affiliated funds are used, how much remains in cash, what triggers rebalancing, and how the recommendation changes when one answer changes. A label such as “moderate” has no standard allocation across providers.

Update the answers after material changes. A portfolio designed for a 30-year retirement goal may be wrong for a home purchase moved to next year. The software cannot infer an approaching withdrawal from silence.

Understand rebalancing and taxes

Rebalancing sells outperforming assets and buys underweight assets, or uses new cash and dividends to move toward targets. In an IRA, trades generally do not create current capital gains. In a taxable account, sales can realize gains, losses, or wash-sale complications.

Tax-loss harvesting sells a loss and purchases a replacement. The harvested loss may offset gains and, subject to tax rules, some ordinary income, but the replacement receives a lower basis. A purchase of the original or substantially identical investment in another account during the wash-sale window can disallow the loss. Automated advisers may not see a spouse's account, employer plan, or outside broker.

Ask how the service coordinates multiple managed accounts, identifies replacements, handles restricted securities, responds to withdrawals, and unwinds harvested positions during transfer. Consult a tax professional for material balances; marketing estimates are not a personal tax projection.

Human help and service boundaries

Determine whether support can explain only the app or can provide investment advice. Ask if a licensed adviser is available, by what channel, during what hours, at what balance, and for which topics. Portfolio advice, tax advice, estate planning, debt, insurance, stock compensation, and budgeting may require different professionals.

Read Form CRS and the Form ADV Part 2 brochure. Identify the adviser, broker, custodian, affiliates, compensation, conflicts, disciplinary information, voting policy, securities-lending practices, and business-continuity plan. Verify registration through IAPD and the broker through BrokerCheck.

Withdrawal and transfer test

Before depositing, simulate the exit. Can eligible securities transfer in kind, or must the portfolio liquidate? Are fractional shares sold? What ACATS or closure fee applies? Will proprietary or harvested positions transfer? How long can trading be paused? How are accrued advisory fees collected? In a taxable account, forced liquidation can be far more expensive than the stated annual fee.

For a near-term withdrawal, ask how the adviser raises cash, chooses lots, changes risk, and maintains the allocation. Do not wait until a home closing or tuition deadline to learn the settlement and bank-transfer timeline.

When a target-date fund may be enough

A low-cost target-date retirement fund can provide diversified allocation and automatic rebalancing in one holding. It may be available in an IRA or employer plan without a separate advisory fee. The tradeoff is less customization, a standardized glide path, and no individualized taxable harvesting.

Compare the target-date fund's expense ratio and holdings with the robo-adviser's total cost and services. Paying an adviser can be rational for taxable management, behavior, multiple goals, customization, or convenience. Paying for a questionnaire that recreates a readily available fund may not be.

Frequently asked questions

What is the cheapest robo-advisor for $1,000 in this set?

Robinhood Strategies and Wealthfront both charge 0.25%, or about $2.50 annually before fund expenses, but Wealthfront requires $500 and Robinhood $50. E*TRADE is about $3 at 0.30%. Acorns Bronze costs $36. The cheapest fee is not automatically the best portfolio or service.

Is M1 a robo-advisor?

No. M1 explicitly describes itself as self-directed. Its software automates deposits and trades according to customer-selected targets; it does not provide ongoing personalized portfolio advice or suitability monitoring.

Does tax-loss harvesting guarantee lower taxes?

No. Results depend on market losses, gains, tax rates, holding period, outside trades, wash sales, future liquidation, and individual circumstances. It can defer tax and can create complexity. Provider studies are not personal guarantees.

Does SIPC protect a managed portfolio from losing value?

No. SIPC can protect eligible securities and cash if a member brokerage fails, within legal limits. It does not protect market declines, unsuitable advice, or promised returns.

Should I pay for a human adviser instead?

A human adviser may add value for complex planning, concentrated stock, business ownership, retirement withdrawals, estate coordination, insurance, taxes, or behavioral coaching. Verify credentials, registration, scope, conflicts, and total fee. “Human” does not automatically mean comprehensive or conflict-free.