There’s a Hybrid Robo-Advisor for All
Let’s face it, the idea of turning one’s finances over to a robo-advisor is nerve-wracking for some. In fact, you might be skeptical about hiring a totally automated investment manager and would prefer a hybrid robo-advisor with human advisor access.
If you want a digital investment advisor with a human touch, you’re not alone. Hybrid robo-advisors are gaining in popularity.
- The Joy of Robo-Advisors
- 1. Personal Capital
- 2. Betterment
- 3. SoFi Invest (formerly SoFi Wealth)
- 4. Ellevest
- 5. Wealthsimple
- 6. SigFig
- 7. TD Ameritrade Essential Portfolios and Selective Portfolios
- 8. Vanguard Personal Advisor Services
- Additional Hybrid Robo-Advisors
- Which Hybrid Robo-Advisor Plus Human Financial Advisor is Best?
*This article contains affiliate links to help pay for this website. That said, our reviews are held to the highest standards of honesty.
The Joy of Robo-Advisors
There’s no denying that robo-advisors are helping people make good investment choices. In fact, robo investing might trump investing with traditional financial planners.
Often, robo-advisors are more affordable than their human counterparts, and offer 24/7 service for a fraction of the cost of a traditional advisor. Since robo-advisors are effective on their own, it may not be immediately clear why anyone would care about a hybrid robo-advisor with human financial advisor.
Yet, if you’re experiencing uncertainty or financial concerns there is comfort in having someone to talk to. And since financial markets fluctuate, these stressful, uncertain moments could come up a lot!
The solution: consider investing in one of these 8+ hybrid robo-advisors with access to human advisors. Doing so combines the sophisticated investment algorithms of the robo-advisor with the human touch so many of us crave.
8 Hybrid Robo-Advisors With a Human Touch
1. Personal Capital
Personal Capital helps investors with a dedicated Certified Financial Planner for each of their clients. Although the basic level of financial service is free. The paid service provides a full slate of investment, retirement and financial management services.
Personal Capital helps clients by guiding them toward smart asset allocation and investment choices. The platform looks long-term and bases recommendations on all of a client’s investments, even those not managed by Personal Capital, so users receive customized advice.
Personal Capital provides tax-loss harvesting, retirement accounts and planning along with net worth calculations and spectacular free investment management and retirement planning software. Clients using the free software have access to automated investment analysis, while paid clients have a dedicated financial advisor and investment management services.
The Personal Capital paid service offers individual stocks as well as ETF investing. The investment approach encompasses an equal sector-weight approach with asset allocation in line with your risk comfort level.
Personal Capital offers access to a dedicated financial planner for clients with a minimum balance of $100,000. Fees begin at .89% for the first $3 million, and drop in increments. For accounts over $10,000,000, fees are .49% AUM.
Although this fee is higher than several other robo-advisors, it’s lower than the 1.00% to 1.40% fees of many financial advisors.
Sign up for Personal Capital free investment tracking and management tools or Advisory Services.
Read: Personal Capital Review
Betterment is a hybrid robo-advisor that allows clients to set up multiple goals and offers smart beta and income portfolios as well.
Betterment offers a few different account types, each with their own fee structures. Betterment Digital, which is the basic account, charges only 0.25% AUM for accounts up to $2 million.
For ongoing financial advisor access, Betterment Premium ($100,000 minimum, 0.40% AUM) offers unlimited access to their Certified Financial Planners.
All Betterment Digital clients can text with human financial advisors for investing and money questions.
Digital clients who would prefer to chat in depth with a financial advisor, can sign up for one of several, goals based Betterment financial planning packages:
Getting Started Package – Designed for new investors who want a call with a financial planner and help setting up their account. Fee – $199
Financial Checkup Package – Gives investors a 60-minute call with a Certified Financial Planner to review client investments and make recommendations. Fee – $299
College Planning Package – Ideal for new parents to get their college planning and saving on the right track and includes a 60-minute call with a Certified Financial Planner. Fee – $299
Marriage Planning Package – For couples who need help with budgeting, planning and financial management. This package includes two 45-minute calls. The first 45 – minute call helps the couple set up their finances. The second call, six months later is a check-up and review. Fee – $299
Retirement Planning Package – This package reviews all client financial accounts and guides clients towards retirement-readiness. In addition to a 60-minute call with a CFP, the investors receive one month of free email access to Betterment financial experts for follow-up questions and advice. Fee – $299
Betterment also offers all clients access to various types of investment portfolios, a high yield cash account and fee-free ATMs.
Read: Betterment Review
3. SoFi Invest (formerly SoFi Wealth)
The SoFi Invest portal offers a suite of investment offers including the SoFi Automated Investing robo-advisor.
There’s a lot to like at SoFi including zero investment management fees, $1 minimum investment amount, and financial consultants. This hybrid robo-advisor is unique in its fee-free access to financial consultants.
The SoFi Automated Investing platform uses a goal planning approach along with a diversified slate of investments. Like the typical robo, SoFi sets up your portfolio after understanding your investment goals, age and risk tolerance levels.
Like many of the other hybrid robos SoFi also offers a high yield fee-free savings account.
One drawback of the SoFi hybrid robo is that they only offer individual, joint and IRA accounts. While Betterment, Personal Capital and Schwab offer greater account selection.
If you’re already a SoFi customer and participate in their lending programs, you’re a good candidate for the investing offers.
Although SoFi Invest is a newer entrant into the robo-advisory field, it’s come out with a very competitive offer.
Read: SoFi Invest Review
Robo-Advisors with Human Financial Planner Access
|Robo Advisor||Management Fee||Investment Minimum||Sign up|
|0.25% of AUM||None||Sign up|
|zero for free tools - 0.89% - 0.49% AUM||zero for free tools - $100,000 for asset management||Sign up|
|0.25% of AUM ($10,000 managed for free)||$2,000||Sign up|
|Basic-None Premium-$30/month ($300 set up fee)||$5,000||Sign up|
|$1-$9 per month||None||Sign up|
The Ellevest robo-advisor targets women investors but is actually appropriate for all. Ellevest Membership offers accessible money management, banking, and financial education, starting at $1 per month.
Additional Ellevest distinguishing features include conservative financial scenario projections that account for realities such as taxes and fees, down markets, and other factors. Ellevest builds layers of conservatism into their projections.
Ellevest members get a personalized investment plan with no minimum investment amount required!
With banking* Ellevest also offers round ups which means when you spend, the difference between your cost and the next dollar goes into your investment account.
Ellevest is known for top notch learning resources including on demand email courses, live workshops, and progress reports to keep you on track.
Their subscription model costs from $1 to $9 per month, depending upon service levels.
Each subscriber has access to discounted financial advisor (and career coaching) sessions.
Ellevest’s asset classes and available investment funds are among the most extensive with unique ETFs such as value equity funds and global bond funds.
Read: Ellevest Review
Canadian-based Wealthsimple launched in the U.S., with a bang. Offering a robust suite of features and financial advisors for all, this platform is compelling. Wealthsimple is an automated investment management robo-advisor platform, covering everything from portfolio allocation to automatic rebalancing, dividend reinvesting, SRI and Halal investing.
In addition to socially responsible and Halal investment options, Wealthsimple provides a free portfolio review of your outside accounts too.
Wealthsimple also offers investments from 10 distinct asset classes, allowing for an extremely diversified portfolio.
For the basic portfolio there is zero minimum investment amount to get started and a 0.50% management fee. Larger investors with investments greater than $100,000 enjoy a reduced fee of 0.40% and additional perks.
Read: Wealthsimple Review
Like Personal Capital, SigFig focuses on helping clients make the best choices about their existing portfolios. SigFig provides investment tracking in Schwab, TD Ameritrade and Fidelity accounts. This robo-advisor works by analyzing data and science to track and analyze investments.
All SigFig clients get unlimited access to human financial advisors, who can be reached by email, live chat, phone, or through appointment. These financial experts can help provide investment advice, which complements SigFig’s access to portfolios with diversified ETFs, retirement accounts, and stock and bond funds. Another positive for SigFig is the opportunity to have the company manage your funds while they remain in your existing Schwab, Fidelity or TD Ameritrade accounts.
SigFig offers Asset Management Service is available to customers with a minimum $2,000 opening balance; this service is free up to $10,000. After that, they charge 0.25% AUM.
Read: SigFig Review
Choose a robo-advisor in under one minute: ROBO-ADVISOR SELECTION WIZARD
7. TD Ameritrade Essential Portfolios and Selective Portfolios
The TD Ameritrade Selective Portfolios option is the rebranding of Amerivest as a hybrid robo-advisor with a digital plus human advisor platform.
The TD Ameritrade Selective Portfolios hybrid robo-advisor is unique in that it offers a variety of types of investment portfolios including active and passively managed accounts. The management fees range from 0.55% to 0.90% of AUM and requires a $25,000 investment minimum.
The TD Ameritrade Essential Portfolios is the fully automated robo-advisor program offered by TD Ameritrade, one of the world’s biggest financial institutions. This all-digital option requires a $500 minimum investment and levies a 0.30% AUM managment fee.
TD Ameritrade, like Fidelity and Schwab, offers branch access which is handy for investors seeking face-to-face contact. Although, only the Selective Portfolios clients are eligible for in depth financial advisory advice.
If you’re already a TD Ameritrade customer, the hybrid Selective Portfolios or digital Essential portfolios might be worth consideration.
8. Vanguard Personal Advisor Services
Heading up the list of Robo-Advisors with the Most AUM with $12.3 billion assets is Vanguard’s Personal Advisor Services.
Hybrid Vanguard Personal Advisor Services is led by a human financial planner. The financial professional partners with the client to design, manage and rebalance unique investment portfolios based on each client’s needs and situation.
Vanguard requires a $50,000 minimum for their hybrid and has competitive pricing at 0.30% AUM fee for assets up to $5 million.
The Vanguard robo-advisor offers 2 investment options:
- Vanguard Personal Advisor Services – A robo-advisor that integrates computerized investment management with human financial advisor guidance.
- Vanguard Digital Advisor – This new offering is similar to the traditional robo-advisors and provides investors with low-fee investment management driven by your risk level and goals.
Vanguard really hits it out of the park here with its combination of robo-advisor and human elements. This robo-advisor with human touch platform is actually driven by the client and advisor with the digital investing secondary.
Vanguard Personal Advisor Services acknowledge that people make emotional decisions regarding their finances, and promise to help clients work around these emotions by providing consistent support and advice. If that means that you want to be as hands off as possible, that’s fine! You can also choose to be more involved in the process. This balance makes Vanguard Personal Advisor Services accessible for all types of investors.
Additional Hybrid Robo-Advisors
- Schwab Intelligent Portfolios Premium
- Zacks Advantage
- TIAA Personal Portfolio
- E*Trade Core Portfolios
- Blackrock Robo Advisor – FutureAdvisor
Today, this isn’t an either or decision. These hybrid robo-advisors are great for those that want it all. Ultimately, all financial decisions boil down to what you need. Learn more about Robo-Advisors vs Financial Advisors in this article.
Robo-advisor returns will approximate those of investments – in general. Investing has historically been a sound way to grow your wealth. Historically, stock market investing has averaged roughly 9% per year returns and bonds 5%. Just remember that those are averages and there are losing and winning years when investing in financial markets.
You will likely make money by investing with robo-advisors over the long term (5 to 7 years). Your returns will correspond with the asset classes of those investments within your portfolio.
Which Hybrid Robo-Advisor Plus Human Financial Advisor is Best?
For the most part, robo-advisors are designed to be self-run; however, having a robo-advisor with human touch can certainly add value to an already impressive investment platform. While some of these advisors – such as Betterment – offer unlimited access to financial planners, the additional fees may not be worth it based on your personal financial situation.
There’s never a perfect solution to investment management, and the best hybrid robo-advisor depends upon your personal circumstances. Our research and reporting strive to make your investment decisions easier.
Compare the options and choose the robo-advisor plus human financial advisor that fits your personal and financial needs.
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.
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If a purchase is canceled or reversed for any reason (including disputes), the corresponding Roundup Transfer will not be reversed. You can opt out of the Roundup Program at any time.
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