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Top 6 Robo-Advisors with Low Investment Minimums in 2023-You Can Afford to Invest

Last Updated on June 7, 2023 by Barbara A. Friedberg, MBA, MS

Disclosure: Please note that this article may contain affiliate links which means that – at zero cost to you – I might earn a commission if you sign up or buy through the affiliate link. That said, I never recommend anything I don’t  believe is valuable

Best Robo-Advisors for Millennials and Those Without Much Cash

Getting started investing is never easy; not only do you need to choose the best investments for your lifestyle and financial goals, but many believe that you need to scrounge up a large minimum cash investment to invest.

You can afford to start investing today with these 4 low investment minimum robo-advisors.

In fact, some online brokerage accounts won’t let you invest in a mutual fund without $2,500. Yet, don’t despair, there are robo-advisors with low minimum investment options.

The following 5 robo-advisors are on the shortlist for lowest investment minimums. Some of these robo-advisors do offer additional features for clients with larger investments, but all will allow you to start investing with $100 or less and several with no required entrance fee.


*Disclosure: Please note that this article may contain affiliate links which means that – at zero cost to you – I might earn a commission if you sign up or buy through the affiliate link.

1. Betterment

Minimum investment: $0.00 and $10.00 to begin investing

Betterment has absolutely no investment minimum required to open an account, and $10 to begin investing. The robo-advisor Betterment Digital, for small investors and Betterment Premium, for wealthier investors with access to financial advisors, for an additional fee.

Betterment Digital

The Betterment Digital original plan offers a lot of service for 0.25% and zero minimum investment amount. Investors with less than $20,000 will pay $4.00 per month unless they’ve scheduled a $250+ monthly automatic deposit.

  • Personalized financial advice, for reasonable fees – how much to invest, recommended asset allocation and more.
  • Low-cost, globally diversified investment portfolios.
  • Crypto portfolios also available, for higher fees.
  • Advanced tax-saving strategies including tax-loss harvesting and asset location.
  • Synch with all external accounts.

Betterment Premium

For investors who want a combined digital and human financial management approach. Betterment Premium requires $100,000 minimum investment amount and charges a .40% management fee. This tier offers all of the digital benefits plus unlimited access to financial advisors for the 0.40% investment managemente.

Betterment a la carte Financial Planning Packages

Betterment offers fee-based financial advice packages, for reasonable fees. The programs are designed for specific investor’s goals. The Getting Started package is great for newbies who want a quick assessment of their account. The Financial Checkup package is designed for a thorough investment portfolio review. The College Planning package is for parents who want help navigating the college planning (and payment) process. And the two remaining packages, marriage planning and retirement planning are as their names suggest.

Betterment recently launched cash management, through partner banks, options with a high yield savings account.

Betterment Review

M1 Finance

2. M1 Finance

Minimum investment: $100

M1 finance is ideal if you want more control in choosing your investments, but also appreciate the benefits of automatic rebalancing and portfolio management. We like the flexibility, low fees and low minimum of this hybrid model robo-advisor.

The minimum investment amount is only $100 and the platform doesn’t charge any management fees for the basic M1 service. For added features, you’ll pay $95 per year, with a 3 month free promo.

Here’s how M1 Finance works. You choose all of the individual investments for your portfolio – and consider each investment like a piece of pie. So, you might choose a share of Apple stock, a target date mutual fund, a bond ETF and an international mutual fund. You choose the percentage invested in each slice of pie.

If you prefer a pre-made pie, M1 Finance offers a variety from which to choose, all categorized according to your risk level. For example, a pre-made conservative pre-made pie includes; Short Term Treasury Bonds, Developed Market Stocks, Small-cap U.S. Stocks, Large-cap U.S. Stocks, Municipal Bonds and Corporate bonds.

Get up to $500 in your new brokerage account when you sign up and make a deposit within 14 days of opening your new M1 Brokerage Account. Promotional terms and conditions apply.

All new investments go directly into your desired investments, according to your pre-selected asset allocation. M1 Finance takes care of rebalancing, and all you do is add money to the account.

M1 Finance also offers M1 Spend cash management and a high yield savings account like Betterment.

M1 Borrow enables users to borrow money at very low interest rates.

Phone and email support is available.

M1Finance Review

Get up to $500 in your new brokerage account when you sign up and make a deposit within 14 days of opening your new M1 Brokerage Account. Promotional terms and conditions apply.

3. SoFi Invest

Minimum investment: $1

SoFi Invest is the investing vertical at the SoFi company. Best known for lending, the company offers an excellent robo-advisor, do-it-yourself investment platform, and no-fee financial advisors for all.

The SoFi Invest category includes:

SoFi is a great choice for investors seeking to consolidate loans, begin investing, and speak with investment and career advisors.

Finally, SoFi does not charge investment management fees, offers half hour meetings with financial advisors and provides commission-free stock and ETF trading.

SoFi Invest Review

4. Ellevest

Minimum investment: None

Billed as a robo-advisor for women, Ellevest is a top hybrid investment manager for anyone. With low-fee subscription pricing and access to financial and career advisors, for discounted prices, there’s a lot to like about Ellevest. The platform offers a broadly diversified investment portfolio with low-fee exchange traded funds.

Ellevest features include:

  • Unique investment projections that account for taxes, fees, and inflation.
  • Goals based investment management.
  • Ellevest offers tax-minimization strategies along with regular rebalancing.
  • Email, text, and phone support is available.
  • Impact investing available.
  • Banking and cash management services.
  • Two membership levels range in services with monthly fees from $5 to $9 per month.

With no minimum investment amount, career and financial advisors, and low fees, both men and women can benefit from the Ellevest platform.

Ellevest Review

5. Ally Invest Cash-Enhanced Managed Portfolios

Minimum investment: $100

Ally Invest robo-advisor is accessible for most with a low minimum investment amount of $100. If you’re willing to hold a 30% cash allocation – in a high yield cash account – in your portfolio, there is no investment management fee. If you prefer less cash in our portfolio, the management fee is still a reasonable .30% of assets under management.

Ally Invest Managed Portfolios is distinct in its investment fund offerings. The Ally robo-advisor offers excellent diversification with just nine funds. We like the addition of three market cap stock funds; large, medium and small cap ETFs. Additionally, their bond ETF offerings are outstanding with access to mortgage backed bonds and a global bond ETF in addition to the typical fixed funds.

One of the features we like is the asset allocation slider available when choosing your risk level and portfolio allocation. It allows you to see your portfolio allocations at various risk levels.

Ally Invest Managed Portfolios now offers tax-optimized portfolios. This is beneficial for taxable accounts and may reduce taxes and maximize returns.

Ally Invest mobile app gives you account access on the go and easy sign up.

Additionally, as part of the Ally Banking family, investors have access to Ally Bank, lending, high yield cash accounts, and Ally Invest brokerage account investing. Open an Ally Invest brokerage account and you’re elibible for up to $3,000 cash back (offer is presently available, but may close in the future).

Ally Invest Cash-Enhanced Managed Portfolios Review

Ally Invest Managed Portfolios Direct Sign Up

6. Fidelity Go

Minimum Investment: $0.00 and $10.00 to begin investing

Fidelity Go is ideal for new investors. You get a completely diversified investment portfolio and no management fees until your account reaches $25,000. Then the management fee rises to 0.35% of assets managed. But, accounts valued at $25,000 or more also have access to unlimited sessions with financial coaches. Self-directed investors, who want a portion of their investments managed by professionals, might consider the Fidelity platform. Known for it’s excellent research and investment services for self-directed investors, the Fidelity Go robo advisor is a solid addition for those seeking fee-free or low cost investing. Fidelity also populates it’s portfolios with many of the Fidelity Flex mutual funds, which do not charge expense ratios.

Investors with taxable investment accounts will forgo tax-loss-harvesting, but that’s a small price to pay for the fee-free and low-fee investment management. Like most digital investment advisors, clients take a short quiz which assesses your goals, time horizon and risk tolerance level. From this information, you’re presented with an asset allocation that is designed to meet your needs.

Robo-Advisors With Low Investment Minimums Takeaway

The secret to good investing is to make use of your most important asset: time. If you have been delaying investing because the upfront investment seems unattainable, you have no more excuses: if you have $500 or less, you can begin investing in any of these 5 robo-advisors with low minimum investments

When choosing your automated digital investment advisor, look under the hood a bit, and consider other factors in addition to choosing the robo with the lowest minimum investment requirement. For more information, check out our robo-advisor comparison chart.

Whether you are a seasoned investor looking to try a new robo-advisor, someone skeptical about robo-advisors in general, or an investing newbie without much money to spend, these robo-advisors will give you the opportunity to get started on your financial goals without breaking the bank.


Personal Disclosure; I have an account with M1 Finance.

*Disclosure: Please note that this article may contain affiliate links which means that – at zero cost to you – I might earn a commission if you sign up or buy through the affiliate link. That said, I never recommend anything I don’t believe is valuable.

Featured image credit: Photo by NeONBRAND on Unsplash

*Betterment is not a licensed tax advisor. Tax Loss Harvesting+ (TLH+) is not suitable for all investors. Read more at https://www.betterment.com/legal/tax-loss-harvesting and consider your personal circumstances before deciding whether to utilize Betterment’s TLH+ feature. Investing involves risk. Performance not guaranteed.

**Cash Reserve is only available to clients of Betterment LLC, which is not a bank, and cash transfers to program banks are conducted through the clients’ brokerage accounts at Betterment Securities. For Cash Reserve (“CR”), Betterment LLC only receives compensation from our program banks; Betterment LLC and Betterment Securities do not charge fees on your CR balance. Checking accounts and the Betterment Visa Debit Card provided and issued by nbkc bank, Member FDIC. Checking made available through Betterment Financial LLC. Neither Betterment Financial LLC, nor any of their affiliates, is a bank. Betterment Financial LLC reimburses ATM fees and the Visa® 1% foreign transaction fee worldwide, everywhere Visa is accepted.

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Barbara A. Friedberg, MBA, MS

Barbara Friedberg, MBA, MS brings decades of finance and investing experience to Robo-advisor Pros. She is a former investment portfolio manager and taught Finance and Investments at several universities. Barbara Friedberg's published work includes Personal Finance; An Encyclopedia of Modern Money Management (Greenwood Press), Invest and Beat the Pros-Create and Manage a Successful Investment Portfolio and How to Get Rich; Without Winning the Lottery. Follow her on twitter