As reported by Barron's, robo-advisors have revolutionized the investment landscape, evolving from simple automated portfolio managers to full-service platforms offering features like human advisor access, tax-loss harvesting, and cash management. Below is a list of the top 10 robo-advisors, ranked by their assets under management (AUM).

Vanguard Robo-Advisors

AUM: $206.6 billion
Individual Clients: 1.1 million

Vanguard offers two robo-advisors: the fully automated Vanguard Digital Advisor and the hybrid Personal Advisor Services, which includes human advisor access. The Digital Advisor requires a $3,000 minimum, while Personal Advisor Services has a $50,000 minimum. Fees are 0.15 percent and 0.30 percent of AUM, respectively.

Schwab Intelligent Portfolios

AUM: $65.8 billion
Individual Clients: 262,000

Schwab offers two options: the fee-free Schwab Intelligent Portfolio and Schwab Intelligent Portfolio Premium, which adds access to certified financial planners for a $30 monthly subscription and a $300 one-time planning fee. Minimum investments are $5,000 for the basic service and $25,000 for the Premium.

Betterment

AUM: $26.8 billion
Individual Clients: 615,000

Betterment provides a pure robo option (Betterment Digital) and a hybrid option (Betterment Premium). Betterment Digital has no minimum investment and charges a 0.25 percent AUM fee. Premium clients need $100,000 to get started and pay a 0.40 percent AUM fee.

Wealthfront

AUM: $21.4 billion
Individual Clients: 307,000

Wealthfront offers an all-digital platform, which includes a comprehensive online financial planning tool. With a $500 minimum investment, Wealthfront charges a 0.25 percent AUM fee.

Personal Capital Advisors

AUM: $16.1 billion
Individual Clients: 26,000

Personal Capital Advisors, now part of Empower Retirement, offers a hybrid robo-advisory service with a unique equal sector weighting strategy. The service requires a $100,000 minimum and charges a 0.89 percent AUM fee, with lower costs for larger accounts.

Blooom

AUM: $5.0 billion
Individual Clients: 24,000

Blooom specializes in managing retirement accounts. It offers a range of services, from portfolio analysis to personalized allocation recommendations, with fees ranging from $45 to $250 per year. 

Acorns

AUM: $4.7 billion
Individual Clients: 4.4 million

Acorns started as a spare change investment app and now offers multiple monthly subscription-based plans, starting at $1. There is no minimum balance, and users can begin investing with as little as $5.

M1 Finance

AUM: $3.9 billion
Individual Clients: 9,000

M1 Finance offers over 80 pre-made investment portfolios and allows for custom portfolios, functioning similarly to a robo-advisor. The platform has no or low fees, depending on the account balance, with a minimum deposit of $100.

FutureAdvisor by BlackRock

AUM: $1.8 billion
Individual Clients: 24,000

Acquired by BlackRock in 2015, FutureAdvisor offers portfolio management for investments in Fidelity or TD Ameritrade accounts. The Premium service requires a $5,000 minimum and charges a 0.50 percent AUM fee.

SigFig

AUM: $1.42 billion
Individual Clients: 27,000

SigFig manages investments held in TD Ameritrade, Charles Schwab, or Fidelity accounts. The platform has a $2,000 minimum, with no management fee on the first $10,000 and a 0.25 percent AUM fee thereafter.

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