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The information, including any rates, terms and fees associated with financial products, presented in the review is accurate as of the date of publication. Interactive Advisors

Interactive Advisors review 2022

Bankrate senior reporter James F. Royal, Ph.D., covers investing and wealth management.

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While we strive to provide a wide range offers, Bankrate does not include information about every fi...

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William Brown 39 minutes ago

While Interactive Advisors excels at the portfolio side of the equation, it’s much weaker on some ...

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On This Page

Interactive Advisors Best for

Portfolio selection Low costs ESG investing Interactive Advisors offers perhaps the strongest portfolio selection among robo-advisors, and yet somehow balances that with no management fee. The robo-advisor offers a wide range of low-cost portfolios, including a sizable selection of socially responsible funds, most of which have a small investment minimum.

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Sophia Chen Member

22 minutes ago

While Interactive Advisors excels at the portfolio side of the equation, it’s much weaker on some of the “service” features that make other top robo-advisors stand out, including tax-loss harvesting and useful planning tools, in particular. All in all, this mix of features makes Interactive Advisors a strong but not outstanding player, even with the robo’s excellent portfolio choices.

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Luna Park 6 minutes ago

Yet, with the ability to buy fractional shares and a low investment minimum, Interactive Advisors ca...

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Jack Thompson Member

46 minutes ago

Yet, with the ability to buy fractional shares and a low investment minimum, Interactive Advisors can make an attractive option for beginning investors. Those looking for dedicated human advisors might want to investigate or (if you can meet the high minimum). Investors wanting to consolidate accounts with a major financial player may want to investigate robo options such as , or .

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Chloe Santos Moderator

48 minutes ago

Interactive Advisors In the details

4.0 Bankrate Score 4.0 Bankrate Score About Bankrate Score Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Account Minimum $100, but some funds have higher minimums, as much as $10,000 or $20,000 Management Fee None Portfolio Mix Selection of more than 75 portfolios, which can be mixed and matched Fund Expense Ratio Varies by fund, ranging from 0.08-1.50 percent, but about two-thirds available at low cost Account Types Individual and joint taxable accounts, traditional, Roth and rollover IRAs; For professionals, also supports trusts and advisors Cash Management Account None, though can use a linked Interactive Brokers account for cash management, including debit card Customer service Monday - Friday 9 a.m.

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Charlotte Lee 32 minutes ago

- 5 p.m. ET, phone, email, live chat Tax Strategy None Rebalancing Funds are rebalanced at the fund ...

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Henry Schmidt Member

50 minutes ago

- 5 p.m. ET, phone, email, live chat Tax Strategy None Rebalancing Funds are rebalanced at the fund level, but your allocation to them is not rebalanced Tools Goal tracker shows you the probability of reaching your goal, cost calculator Promotion None Rates as of October 18, 2022 at 10:12 PM

Pros Where Interactive Advisors stands out

No management fee

With so many other positives on offer at Interactive Advisors, it’s a bit hard to believe that the robo-advisor charges no management fees. But there really is no cover charge.

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Hannah Kim 33 minutes ago

Yes, you’ll still have to pay the expense ratios on any investment funds that you select, as you w...

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Daniel Kumar 32 minutes ago

That puts it in stiff competition with and for lowest-cost robo-advisor. That said, Interactive Advi...

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Brandon Kumar Member

26 minutes ago

Yes, you’ll still have to pay the expense ratios on any investment funds that you select, as you would with any robo-advisor, of course. This structure means that for all-in costs (management fee plus fund fees) Interactive Advisors is about as competitive on price as any robo-advisor can be.

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Luna Park Member

108 minutes ago

That puts it in stiff competition with and for lowest-cost robo-advisor. That said, Interactive Advisors does not offer the same level of features as other robos (more below).

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Brandon Kumar Member

112 minutes ago

Low-cost portfolios

As alluded to above, Interactive Advisors offers some very low-cost portfolios, with expense ratios starting at just 0.08 percent, or a cost of about $8 a year for every $10,000 invested. That low fee gets you access to Interactive Advisor’s home-grown thematic funds, though you can add other funds at slightly higher costs. In fact, you can get nearly half of the funds on offer here at a fee of 0.11 percent or less – solid value.

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Lily Watson 104 minutes ago

If you don’t mind paying a bit more, you’ll be able to snag about two-thirds of the funds here f...

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Kevin Wang 78 minutes ago

Portfolio selection

Interactive Advisors also excels at the range of portfolios on offer. Y...

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Lucas Martinez Moderator

58 minutes ago

If you don’t mind paying a bit more, you’ll be able to snag about two-thirds of the funds here for an expense ratio of 0.20 percent or less. Then if you’re looking for something a little more custom, you could go as high as 1.5 percent, but you absolutely needn’t do that to enjoy a highly individualized portfolio. Factor in the total costs of your funds (plus the lack of management fee), and you’re looking at an all-in cost that could easily be half – maybe even a third – of what you’d pay elsewhere.

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Dylan Patel 36 minutes ago

Portfolio selection

Interactive Advisors also excels at the range of portfolios on offer. Y...

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Ella Rodriguez Member

90 minutes ago

Portfolio selection

Interactive Advisors also excels at the range of portfolios on offer. You’ll get more than 75 investible funds fitting almost any major portfolio style, and as noted, most of them are low cost.

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Natalie Lopez Member

31 minutes ago

Here are some of the highlights: A mix of passive and active strategies. Investors can select funds that are only trying to replicate an index or those that are trying to beat the market, or they can mix the two. Low-cost smart beta funds.

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Aria Nguyen 25 minutes ago

Some of the robo’s in-house funds use a “smart beta” strategy that tries to achieve higher ris...

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Sofia Garcia Member

128 minutes ago

Some of the robo’s in-house funds use a “smart beta” strategy that tries to achieve higher risk-adjusted returns than the market as a whole. That is, they’re looking for a higher return for every unit of risk assumed.

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James Smith 110 minutes ago

These funds are available in several themes, including quality, growth and . Industry funds....

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Aria Nguyen Member

33 minutes ago

These funds are available in several themes, including quality, growth and . Industry funds.

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Madison Singh 9 minutes ago

Want exposure to a specific industry? You can get targeted exposure to the major economic sectors....

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Nathan Chen 8 minutes ago

Custom strategies. Funds with higher expense ratios offer more active or advanced strategies, allowi...

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Sebastian Silva Member

102 minutes ago

Want exposure to a specific industry? You can get targeted exposure to the major economic sectors.

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William Brown 25 minutes ago

Custom strategies. Funds with higher expense ratios offer more active or advanced strategies, allowi...

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Noah Davis 33 minutes ago

Clear performance and risk management. Interactive Advisors provides details on how each fund has pe...

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Scarlett Brown Member

175 minutes ago

Custom strategies. Funds with higher expense ratios offer more active or advanced strategies, allowing you further choices.

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Noah Davis 99 minutes ago

Clear performance and risk management. Interactive Advisors provides details on how each fund has pe...

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Kevin Wang 126 minutes ago

ESG funds. A strong offering here, but more on this in the next section....

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Madison Singh Member

108 minutes ago

Clear performance and risk management. Interactive Advisors provides details on how each fund has performed over the last five years and also offers a measure of the risk-adjusted return, showing you how much risk you’re taking for your return.

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Madison Singh 11 minutes ago

ESG funds. A strong offering here, but more on this in the next section....

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Isaac Schmidt Member

148 minutes ago

ESG funds. A strong offering here, but more on this in the next section.

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Audrey Mueller Member

38 minutes ago

The wide portfolio selection is arguably this robo-advisor’s strongest feature. In fact, probably only offers a wider selection of funds at a robo-advisor.

ESG investing

Interactive Advisors’ investment selections are so strong that it’s worth calling out one of the strongest in its own section: ESG investing.

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Chloe Santos 1 minutes ago

– which stands for environmental, social and governance – offers the promise of investing in com...

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Emma Wilson 33 minutes ago

For example, if you want to emphasize companies that focus on ocean sustainability, you could buy th...

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Elijah Patel Member

78 minutes ago

– which stands for environmental, social and governance – offers the promise of investing in companies that are making the world a better place, and it’s become tremendously popular in the last few years. This robo-advisor’s offering might be at the top of the heap, however. You can find ESG funds with investing themes (growth, value, dividends, etc.), or you can fine-tune your selection to specific ESG themes.

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Alexander Wang 42 minutes ago

For example, if you want to emphasize companies that focus on ocean sustainability, you could buy th...

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Daniel Kumar 43 minutes ago

Low minimum

You can get started at Interactive Advisors with as little as $100, so it only ...

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Zoe Mueller Member

120 minutes ago

For example, if you want to emphasize companies that focus on ocean sustainability, you could buy the Ocean Life fund, which invests in firms that have waste management and recycling processes in place to avoid disasters impacting sea life. Similarly, “mindful business models,” “land health,” “clean air,” “racial equality” and others promise stock exposure reflecting their namesakes. It’s worth noting that these portfolios are all among the cheapest on offer here, too.

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Madison Singh Member

82 minutes ago

Low minimum

You can get started at Interactive Advisors with as little as $100, so it only takes a minimal investment to get going. All the low-cost portfolios – those costing 0.20 percent or less – have this $100 minimum.

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Charlotte Lee 58 minutes ago

That’s a boon for beginning investors, though if you want to add a few different funds to your por...

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James Smith 10 minutes ago

Don’t let the high account minimums on a few funds deter you from the much wider range of funds of...

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Oliver Taylor Member

210 minutes ago

That’s a boon for beginning investors, though if you want to add a few different funds to your portfolio, you’ll need to meet the $100 minimum on each, which is hardly onerous. If you want to add some of the pricier funds to your account, you’ll need to cough up $10,000 or more to get started there, though even a few of these allow you to begin with $500.

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William Brown Member

43 minutes ago

Don’t let the high account minimums on a few funds deter you from the much wider range of funds offering just that $100 minimum, though. You’ll find plenty to like at the lower price points.

Fractional shares

Interactive Advisors also allows you to get going with fractional shares, meaning you can deposit, say, $125, and have it all invested in the portfolio of your choice.

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Hannah Kim 9 minutes ago

That’s useful for investors who just want to deposit small amounts to get started here, and it’s...

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Noah Davis 24 minutes ago

Linked to Interactive Brokers account

If you have an Interactive Brokers account, you can q...

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Julia Zhang Member

176 minutes ago

That’s useful for investors who just want to deposit small amounts to get started here, and it’s a feature that’s not always available , even some highly regarded ones. Interactive Advisors also reinvests any dividends or other distributions back into the portfolio using fractional shares, so you won’t have cash sitting in your account unless you want it there.

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Sebastian Silva 34 minutes ago

Linked to Interactive Brokers account

If you have an Interactive Brokers account, you can q...

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James Smith Moderator

45 minutes ago

Linked to Interactive Brokers account

If you have an Interactive Brokers account, you can quickly link your Interactive Advisors account with it. Why is this useful? Among other reasons, it can actually allow you to borrow on margin from your brokerage account to fund your robo-advisor account, if you decide that’s in your interest.

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Ella Rodriguez 12 minutes ago

Interactive Brokers typically offers the lowest margin rates among online brokers, and margin loans ...

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Luna Park 40 minutes ago

The broker routinely offers the best interest rates on cash balances (though only when rates were at...

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Henry Schmidt Member

184 minutes ago

Interactive Brokers typically offers the lowest margin rates among online brokers, and margin loans are uncommon among robo-advisors, though Wealthfront offers one, too. This connection is also valuable because it allows you to use Interactive Brokers as your cash management account.

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Sophie Martin 15 minutes ago

The broker routinely offers the best interest rates on cash balances (though only when rates were at...

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Thomas Anderson 79 minutes ago

This level of functionality might not be quite up to the level of the top robos, but does offer usef...

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Liam Wilson Member

94 minutes ago

The broker routinely offers the best interest rates on cash balances (though only when rates were at “normal” levels) and offers a debit card, allowing you to spend straight from the account. You’ll also be able to pay bills from the brokerage account.

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Mason Rodriguez 31 minutes ago

This level of functionality might not be quite up to the level of the top robos, but does offer usef...

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Ava White 52 minutes ago

Also available are trust accounts and advisor accounts for advisors building out a portfolio for cli...

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Joseph Kim Member

240 minutes ago

This level of functionality might not be quite up to the level of the top robos, but does offer useful services.

Cons Where Interactive Advisors could improve

Limited account types

The available types of accounts at Interactive Advisors are relatively limited: individual and joint taxable accounts, as well as traditional IRAs, Roth IRAs and rollover IRAs.

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Natalie Lopez 58 minutes ago

Also available are trust accounts and advisor accounts for advisors building out a portfolio for cli...

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Brandon Kumar 2 minutes ago

No , no custodial accounts, no or others. So Interactive Advisors will work for many clients, but th...

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James Smith Moderator

245 minutes ago

Also available are trust accounts and advisor accounts for advisors building out a portfolio for clients. Beyond that, you’re out of luck.

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Ella Rodriguez Member

100 minutes ago

No , no custodial accounts, no or others. So Interactive Advisors will work for many clients, but those requiring more specialized accounts will not find what they’re looking for here.

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Alexander Wang 95 minutes ago

No tax strategy

One of this robo-advisor’s biggest deficits compared to rivals is the fac...

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Ella Rodriguez 30 minutes ago

The robo-advisor says that it’s working on tax-loss harvesting for some of its portfolios but it�...

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Victoria Lopez Member

255 minutes ago

No tax strategy

One of this robo-advisor’s biggest deficits compared to rivals is the fact that it doesn’t have a tax strategy. Top robo-advisors such as Betterment and Wealthfront offer an automated that can help reduce your taxable gains. Tax-loss harvesting sells losing investments and records a tax loss that offsets gains elsewhere in your portfolio.

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Victoria Lopez 98 minutes ago

The robo-advisor says that it’s working on tax-loss harvesting for some of its portfolios but it�...

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Isabella Johnson 182 minutes ago

Its major feature here is a goal tracker that lets you know the probability of reaching your stated ...

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Evelyn Zhang Member

208 minutes ago

The robo-advisor says that it’s working on tax-loss harvesting for some of its portfolios but it’s not ready for prime time yet.

Limited tools

Unlike many top rivals, Interactive Advisors offers relatively few robust tools for planning your portfolio.

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Amelia Singh 142 minutes ago

Its major feature here is a goal tracker that lets you know the probability of reaching your stated ...

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Aria Nguyen Member

159 minutes ago

Its major feature here is a goal tracker that lets you know the probability of reaching your stated goal, given the information you input. That’s helpful, for sure, but the lack of a wider selection makes Interactive Brokers a less robust planning option than it could be.

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Liam Wilson 99 minutes ago

Review methodology

Bankrate evaluates brokers and robo-advisors on factors that matter to...

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Jack Thompson 41 minutes ago

Interactive Advisors Review 2022 Bankrate Caret RightMain Menu Mortgage Mortgages Financing a home ...

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Harper Kim Member

108 minutes ago

Review methodology

Bankrate evaluates brokers and robo-advisors on factors that matter to individual investors, including commissions, account fees, available securities, trading platforms, research and many more. After weighting these objective measures according to their importance, we then systematically score the brokers and robo-advisors and scale the data to ensure that you are seeing the top options among a field of high-quality companies. .

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Natalie Lopez 41 minutes ago

Interactive Advisors Review 2022 Bankrate Caret RightMain Menu Mortgage Mortgages Financing a home ...

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Bankrate does not offer advisory or brokerage services, nor does it provide individualized recommend...

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