Best Robo-Advisor for Low-Cost Investing

How we picked the companies to evaluate:

NerdWallet reviewed 17 robo-advisors in 2023, which together constitute the majority of that market based on their assets under management. Some of the providers are NerdWallet partners, but this did not influence our selection of the winner.

How we chose the winner:

NerdWallet evaluated each provider across the weighted criteria below to determine the winner for low costs:
  • Low or no management fees (50%).
  • Expense ratios on available investments (40%).
  • Low or no account fees (partial transfer, full transfer or closing) (10%).
In the event of a tie, we directly compare the tied robo-advisors’ management fees. The provider with the lowest fee earns the award.

How we verified our data:

NerdWallet writers sent detailed questions to all reviewed companies. NerdWallet writers and editors also confirmed fees, rates, policies and other key features on each company's website.