Compare seven beginner robo-advisors by small-account cost and minimums. See portfolio clarity, human support, tax tools and transfer costs.
Research by Smart Digital Investing ResearchEditorial responsibility: KrisadaUpdated 2026-10-09
The Short Answer
Fidelity Go is the clearest beginner value below $25,000 because the advisory fee is zero and investing starts at $10. Vanguard is the strongest low-cost percentage option. Wealthfront and E*TRADE begin at $500, while Schwab and Merrill require more money or charge more for an established brokerage relationship. Betterment is easy to open, but a $5 monthly fee can be expensive on a small account.
Before You Open an Account
Make the Beginner Decision in Three Steps
Choose a managed account only if you want the provider to select and maintain the portfolio.
Convert every percentage or monthly charge into annual dollars at your expected balance.
Check the account type, support, risk controls, and transfer rules before you fund it.
The Cheapest Beginner Robo-Advisor Changes With the Balance
Fidelity Go charges no advisory fee below $25,000. At $25,000, its published 0.35% fee begins and the annual advisory cost becomes $87.50.
Betterment creates the opposite small-account problem. Without at least $200 in qualifying monthly recurring deposits, an account below $24,000 pays $5 a month. That is $60 a year at either $1,000 or $10,000.
Estimated annual advisory cost by account balance
Provider
$1,000
$10,000
$25,000
$100,000
Fidelity Go
$0
$0
$87.50
$350
Vanguard Digital Advisor
About $1.50 to $1.60
About $15 to $16
About $37.50 to $40
About $150 to $160
Wealthfront
$2.50
$25
$62.50
$250
Betterment
$60
$60
$62.50
$250
E*TRADE Core Portfolios
$3
$30
$75
$300
Merrill Guided Investing
$4.50
$45
$112.50
$450
Schwab Intelligent Portfolios
Below minimum
$0
$0
$0
These are published program-fee estimates, not total investing costs. Betterment assumes no qualifying recurring deposit. Schwab charges no advisory fee, but the required cash allocation and fund expenses still matter.
Where a Beginner Should Start With Robo-Advisors
The first choice is not the brand. It is the kind of help the account needs to provide.
Start with Fidelity Go when the balance is below $25,000 and direct advisory cost is the deciding factor.
Start with Vanguard when a low published percentage fee and index-focused approach matter most.
Start with Wealthfront when taxable-account automation and tax tools matter more than human help.
Start with E*TRADE when a $500 minimum and an established brokerage relationship fit the account.
Consider Schwab when the balance clears $5,000 and the required cash allocation makes sense for the plan.
Consider Merrill when Bank of America and Merrill integration is worth a higher published fee.
Betterment can fit a beginner who will make qualifying recurring deposits. Without them, the flat monthly fee deserves its own calculation before the account is funded.
Merrill, Schwab, and E*TRADE Change More Than the Fee
Merrill Guided Investing, Schwab Intelligent Portfolios and E*TRADE Core Portfolios connect automated management to a larger brokerage relationship. That can simplify transfers and support. It can also make several accounts easier to keep together.
The tradeoff is not hidden. Merrill charges 0.45% without an advisor. E*TRADE charges 0.30%. Schwab charges no direct advisory fee, but every portfolio includes cash and Schwab earns revenue from that allocation.
At a Glance
Platform Comparison
Published terms as of 2026-10-09
PlatformBest forMinimumPublished fee
Fidelity GoLow-balance automated investing$0 to open; $10 to begin investing$0 advisory fee below $25,000; 0.35% annually at $25,000 and above
Vanguard Digital AdvisorLow-cost index-focused automation$100Approximately $15 to $16 annually per $10,000 invested
BettermentGoal-based automated investingNo required minimum balance0.25% annually or $5 per month, depending on balance and recurring deposits
E*TRADE Core PortfoliosETF automation with a $500 starting minimum$500 to begin; $450 maintenance minimum0.30% annual advisory fee; underlying fund expenses are separate
Merrill Guided InvestingGoal-based management inside a Merrill relationship$1,000 for growth-focused strategies; $50,000 for income-focused strategies0.45% annual program fee without an advisor
Schwab Intelligent PortfoliosNo-advisory-fee automation at $5,000 and above$5,000No advisory fee; underlying ETF expenses apply
Our Standard
What We Compared
Small-account fee impact and the annual cost in dollars
Minimum required to begin investing
Account structure, portfolio explanation, and risk questionnaire
Diversification, automatic rebalancing, and useful education
Human support and interface incentives that may encourage over-trading
Ease of leaving or transferring the account
Detailed Assessment
01
Fidelity Go
Best for: Low-balance automated investing
A strong starting point for investors who want automation without an advisory charge on balances below $25,000.
Minimum
$0 to open; $10 to begin investing
Fees
$0 advisory fee below $25,000; 0.35% annually at $25,000 and above
Account access
Taxable, IRA, HSA, and eligible retirement accounts
Strengths
No advisory charge below $25,000
Automatic portfolio management and rebalancing
Financial coaching becomes available at $25,000
Considerations
The 0.35% advisory fee begins when the account reaches $25,000
Portfolios use Fidelity mutual funds selected for the program
Best for: ETF automation with a $500 starting minimum
A practical middle-ground option for investors who want a low starting minimum, ETF portfolios, and support from an established brokerage without paying for an assigned advisor.
Minimum
$500 to begin; $450 maintenance minimum
Fees
0.30% annual advisory fee; underlying fund expenses are separate
Account access
Most eligible retail brokerage and retirement accounts with a U.S. address
Strengths
$500 initial investment minimum
Daily monitoring with automatic rebalancing when the portfolio drifts
Tax-loss harvesting is available for eligible taxable accounts
Considerations
The 0.30% advisory fee is higher than Vanguard and Wealthfront
No individual financial advisor or portfolio manager is assigned
Fund expenses are charged in addition to the advisory fee
Best for: Goal-based management inside a Merrill relationship
A professionally managed option for investors who value Merrill's goal-based portfolios and connection to the wider Bank of America relationship more than the lowest advisory fee.
Minimum
$1,000 for growth-focused strategies; $50,000 for income-focused strategies
Fees
0.45% annual program fee without an advisor
Account access
Eligible taxable and retirement accounts
Strengths
Portfolio strategies developed by Merrill's Chief Investment Office
Automatic monitoring and rebalancing
Lower minimum for growth-focused strategies than Schwab Intelligent Portfolios
Considerations
The 0.45% program fee is higher than the standard fees in this comparison
Income-focused strategies carry a $50,000 minimum
The separate Guided Investing with Advisor program costs 0.85% annually