Betterment alternatives

• Lower fees than Betterment.

While it lacks tax-loss harvesting, SoFi's robo-advisor is entirely free to use. We like SoFi for its automatic portfolio rebalancing, unlimited access to financial planners and best of all — its entirely free robo-advisor service. While the platform hasn't been around quite as long as Betterment, SoFi's free robo-advisor is tough to compete with.

• More automated investing features than Betterment.

This platform's flat-rate robo-advisor rounds up debit purchases to invest the difference on your behalf. Acorns sets itself apart from Betterment — and many other robo-advisors — with a round-up feature and flat-rate pricing. Most automated investment platforms charge a percentage-based management fee, but Acorns opts for flat-rate monthly pricing that's at its most competitive for portfolios of $5,000 or more. To use this platform's robo-advisor, you must link a debit card to your account. Acorns then rounds up any purchases you make and invests the difference.

• Better than Betterment for bigger portfolios.

Blooom can help you grow your retirement savings, but its fixed annual fee pricing structure means it's only cost-effective for larger portfolios. Blooom offers automated investment portfolios designed for investors with employer-sponsored accounts, like 401(k)s and 401(a)s. Fees are assessed on an annual basis, and plans start at $45 per year. The fixed cost of entry means that for Blooom's service to be cheaper than Betterment's, you'll need a portfolio of at least $20,000. Still, for those seeking guidance with an employer-sponsored account, Blooom offers portfolio analysis, automatic portfolio rebalancing and — with the higher tiers of service — access to financial advisers.

• Greater control over your portfolio than Betterment.

M1 Finance is ideal for investors seeking more autonomy over their investments. The platform essentially acts as a happy medium between fully automated investing and self-directed trades. M1 Finance invites investors to pick out their own investment slices that it later combines into investment “pies.” Your investment pie is your portfolio, which M1 then monitors and rebalances on your behalf. The service is free to use and various accounts are available, including traditional and Roth IRAs. But it lacks Betterment’s tax-loss harvesting feature, and new investors may not feel comfortable picking their own investments.

• Better for families saving for their children's education than Betterment.

With similar management fees and asset classes, Wealthfront's major edge over Betterment is its college savings account. Wealthfront has plenty in common with Betterment, including a 0.25% annual management fee, a spread of over 10 asset classes and tax-loss harvesting options. In fact, the platforms share so much in common that there's really only one reason to opt for Wealthfront over Betterment: the ability to open a 529 college savings account. If you're interested in saving for higher education expenses, Wealthfront is your best bet. But be prepared for a $500 minimum deposit and lack of access to fractional shares.