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Best Robo-Advisor IRAs

Pick one of these automated, or robo-advisor, IRAs if you want to put your retirement savings on auto-pilot.

Published on March 14, 2020

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The best automated IRAs

Charles Schwab logo
Fees: 0%
Best if you want: An automated IRA at Schwab, especially if you already have accounts there.
Limitations: Your portfolio will mainly have Schwab funds in it and Schwab keeps more of your money in cash than competitors which could impact your returns.
Access to Human Advisor: Only if you have more than $25,000 to invest, and for an extra fee of $30/month.
Wealthfront logo
Fees: 0.25%
Best if you want: A low-fee automated portfolio with a user interface that's simple and easy-to-use.
Limitations: Not much ability to influence the portfolio they create for you.
Access to Human Advisor: Not at this time.
SoFi logo
Fees: 0%
Best if you want: A zero-fee portfolio from a digital brand with a range of other financial products like student loan refinancing and debit cards.
Limitations: Not much ability to influence the portfolio they create for you.
Access to Human Advisor: Yes - SoFi has certified financial professionals on staff that you'll get access to.
E-Trade logo
Fees: 0.30% of your assets per year (e.g. $30 per year if you had $10,000 in assets)
Best if you want: A well-diversified automated portfolio with the ability to incorporate socially-conscious investments in your portfolio (ESG) for no additional cost. Available on both desktop and mobile app.
Limitations: While E*TRADE does offer well diversified portfolios, you won’t have exposure to international bonds or real estate. However, E*TRADE does offer a unique smart beta ETF - this is a more actively traded investment portfolio that tries to outperform market index.
Access to Human Advisor: While no advisor is assigned to the account, users can call to consult a specialist, some of whom are Certified Financial Planners.
Merrill Lynch logo
Fees: 0.45%
Best if you want: A simple automated portfolio with potential fee discounts for existing Bank of America and Merrill Lynch customers.
Limitations: A platform that's not quite as easy-to-navigate as newer institutions and comes with a higher fee.
Access to Human Advisor: Only if you have more than $20,000 to invest and are willing to pay a higher fee (0.85%).
TD Ameritrade logo
Fees: 0.30%
Best if you want: An automated portfolio and you have an existing banking or brokerage relationship with TD Ameritrade.
Limitations: The user experience isn't as intuitive as newer, digital-first institutions.
Access to Human Advisor: Not at this time. TD does offer other accounts with human advisors, but they have higher fees and account minimums.
Ally logo
Fees: 0%
Best if you want: An automated IRA from a leading digital bank offering a range of other financial products (incl. bank accounts & mortgages).
Limitations: Ally's 0% fee only applies to the "Cash-Enhanced" portfolio which puts 30% of your assets into cash, which could impact your returns.
Access to Human Advisor: Not at this time, though you'll get access to Ally's call center support.
Betterment logo
Fees: 0.25%
Best if you want: An automated, low-fee portfolio from the largest independent provider of digital accounts. Betterment was a pioneer in providing "set-it-and-forget-it" portfolios for a low-fee.
Limitations: Betterment does not have physical locations like some legacy providers; human advisors are available, but require an additional fee on the standard plan.
Access to Human Advisor: Yes - you can buy a consultation ($299) or pay a higher annual fee (0.40%) for unlimited access on an ongoing basis.
Fidelity logo
Fees: 0.35%
Best if you want: An automated portfolio from one of the biggest brands in finance with solid customer support and reasonable fees.
Limitations: Your portfolio will mainly have Fidelity funds in it, but Fidelity's management fee covers the cost of those funds so you'll only pay one all-in fee.
Access to Human Advisor: Not at this time.
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