Think of Google's dominance of search engines. That's about how much America's largest robo-adviser leads in the digital and mostly-digital financial advice marketplace. Today, these five top robo-platforms have a combined $100 billion in client assets, and the market is headed way up in the next few years. It's projected to reach about $385 billion by the end of 2021, according to Cerulli Associates.
|AUM||Launched||Human advice||Cost||Minimum||Interesting feature|
|Vanguard Personal Advisor Services||$65 billion (as of May 15, 2017)||2015||Clients can call into a center for live financial advice, and those with at least $500,000 work with a dedicated adviser.||0.3% of AUM management fee||$50,000||Two-decade history of providing advice to individuals.|
|Schwab Intelligent Portfolios||$15.9 billion(as of March 31, 2017)||2015||Customer support 24/7 via phone, email and chat.||None.||$5,000||Schwab introduced a hybrid service Schwab Intelligent Advisory with a $25,000 minimum that charges a .28% annual advisory fee and includes ongoing access to a planning consultant.|
|Betterment||$9 billion(as of March 30, 2017)||2010||Clients with at least $100,000 in assets can pay a .4% annual fee for an annual call with our team of CFP professionals and licensed experts; those with $250,000 can pay a .5% fee for unlimited email and telephone advice from CFP professionals and licensed experts.||0.25% of AUM management fee||None||The largest independent digital platform is seeking wealthier clients and may introduce alternative investments to its platform.|
|Wealthfront||$6.5 billion(as of May 30, 2017)||2011||None.||Free for first $10,000, beyond that .25% of AUM annual management fee||$500 ($100,000 for tax optimized direct indexing)||Its has a program to help clients who hold shares in their public company employers to sell that stock tax-efficiently and commission free.|
|Personal Capital||$4.3 billion(as of May 2017)||2011||Since 2011 its digital offering has included human adviser help by phone, web conference, chat or email.||0.89% annual advisory fee for first $1 million in assets (fee decreases as assets increase)||$100,000||Firm's retirement planner shows users if they are in good shape for retirement based on data from their linked accounts and considerations such as if they are having a baby or putting kids through college.|