Best Online Financial Advisor

How we picked the companies to evaluate:

NerdWallet reviewed six companies that either provide financial planning services online or connect users with a financial advisor. This category does not cover wealth management services offered by brokerages or banks. It does include several robo-advisors that offer clients access to human advisors as a premium upgrade. 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 online financial advisor:
  • Advisor access and credentials, including meeting frequency and contact methods (29.5%).
  • Financial planning capabilities (14.25%).
  • Account management fees (14.25%).
  • Low or no setup or onboarding fees (7%).
  • Portfolio construction, including investment selection and customization capabilities (7%).
  • Expense ratios on available investments (7%).
  • Types of accounts managed (7%).
  • Account minimum (3.5%).
  • Tax strategy, such as tax-loss harvesting, asset location guidance or direct indexing (3.5%).
  • Customer service, including hours of availability and website transparency (3.5%).
  • Brokerage options (where accounts are held and whether customers have to move funds to a new custodian to receive management) (1.75%).
  • Other account fees (1.75%).

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.
EXPLORE the AWARD WINNERS
CREDIT CARDS
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MORTGAGES
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BANKING
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INVESTING
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PERSONAL LOANS
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STUDENT LOANS
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AUTO INSURANCE
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TRAVEL REWARDS