Schwab Intelligent Portfolios
From Charles Schwab
Best for: Investors with $5,000+ who want no advisory fee
$0
Advisory fee
$5,000
To start
As of · sources in Details
Pros
- No advisory fee
- Customizable portfolios
- Part of a big brokerage with branches
Cons
- $5,000 minimum
- Required cash allocation
- Tax-loss harvesting only at $50,000+
Who it fits
You have $5,000 or more and want to avoid an advisory fee
What reviewers say
Reviewers note free management is rare and like the wide ETF choice. Catches: a high minimum, a cash slice that can hold back returns, and tax-loss harvesting only at bigger balances.
Paraphrased from NerdWallet, Schwab Intelligent Portfolios review; NerdWallet, Best robo-advisors.
Plain link. uFIRE earns nothing from it.
Details: full breakdown and sources
The numbers
The breakdown
Schwab's robo-advisor: no advisory fee, a $5,000 minimum and a portfolio that always holds some cash.
Schwab Intelligent Portfolios charges no advisory fee and no commissions. You need $5,000 to open an account.
Every portfolio includes a cash allocation held at Schwab Bank, and Schwab says it earns income on that cash, which is part of how the service is paid for. Tax-loss harvesting is available from $50,000 in invested assets.
Review themes, point by point
- Reviewers point out that free management is rare among robo-advisors.
- There's a wide choice of ETFs and room to customize portfolios.
- The $5,000 minimum is high next to many rivals.
- The large cash allocation can hold back returns, and tax-loss harvesting starts only at $50,000.
Reviews reflect each publisher's view on the day they wrote it.
All pros
- No advisory fee
- Customizable portfolios
- Part of a big brokerage with branches
All cons
- $5,000 minimum
- Required cash allocation
- Tax-loss harvesting only at $50,000+
Might fit if
- You have $5,000 or more and want to avoid an advisory fee
- You already bank or invest with Schwab
Maybe look elsewhere if:
- You'd rather have every dollar invested than keep a cash slice