The Best Robo-Advisors Deals, Bonuses and Promotions Right Now

Receive all the benefits of automated investing plus extra bonuses when you sign up with the right advisor.

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If you’re new to investing, the idea of managing your own investment accounts can be daunting. Even if you have some experience, you may not have the time or desire to do the necessary research and work to maintain a well-balanced portfolio.

>>MORE: Best and Biggest Brokerage Bonuses Right Now

A robo-advisor can help by providing an inexpensive alternative to traditional investment managers. In most cases, robo-advisors use algorithms to manage your investments. In some cases, however, they may combine algorithms and human insight to help you maximize your returns and provide valuable information like the differences between mutual funds and ETFs.

Best Robo-Advisor Deals and Bonuses

If you’re considering using a robo-advisor to manage your money, some companies are providing upfront bonuses to new customers who qualify. Here are the eight best robo-advisor promotions going right now.

Company Bonus/Promotion
M1 Finance Earn up to $2,500
Betterment Portfolio managed for free for up to six months
SigFig First $10,000 managed for free
Merrill Edge Bank of America customer benefits
Wealthsimple No annual fee if minimum is met
Wealthfront First $5,000 managed for free
Ellevest First month free
Blooom $15 off with a promo code

1. M1 Finance Bonus: Earn up to $2,500

M1 Finance is technically registered as a broker/dealer, but its combination of automation and customization gives you the chance to create a tailored portfolio, then does the rest of the legwork for you, just like a robo-advisor.

The firm also provides one of the best robo-advisor promotions for new customers that we’ve seen. While the minimum opening investment is just $100, you can earn up to $2,500 if you transfer high dollar amounts from another brokerage within 60 days of opening an account.

Visit M1 Finance

More specifically, here’s what you can earn.

Transfer Amount Bonus Amount
$100,000 – $250,000 Receive $250
$250,001 – $500,000 Receive $500
$500,001 – $1 million Receive $1,000
$1,000,001+ Receive $2,500

Even if you don’t qualify for the promotion based on your net worth, M1 Finance can still be a solid option because of its hybrid approach to automation and DIY investing. Read our full review of the M1 Finance bonus.

2. Betterment Promotion: Free Portfolio Management for up to Six Months

Another robo-advising pioneer, Betterment offers a fully digital robo-advisor experience for a low 0.25% fee. If you have more than $100,000 invested and want more, you could upgrade to a premium plan. For a 0.40% annual fee, the premium plan adds in-depth advice for your investments outside of Betterment plus unlimited access to CFP professionals.

Visit Betterment

If you open a Betterment account through one of its affiliate partners — again, a quick Google search will help you find one — you can get your portfolio managed for free for up to 12 months:

Deposit Amount Promotion
$15,000 – $99,999 Get one month free
$100,000 – $249,999 Get six months free
$250,000+ Get 12 months free

To give you an idea of how much that is, let’s say you deposit $250,000. Over 12 months, you’d pay $625 in fees for the basic plan, which is a nice chunk of change.

3. SigFig Promotion: First $10,000 Managed for Free

Formerly Wikinvest, SigFig is an excellent option for small-time investors who don’t have a ton of cash to invest for the future. All customers will get their first $10,000 managed for free. Even after you have more than that in your portfolio, you still won’t pay for SigFig to manage your first $10,000.

What’s more, its annual fee beyond that amount is a low 0.25%, and the platform provides access to an advisor. The only catch is that you have to start with a $2,000 investment, which may not be possible for some new investors.

4. Merrill Edge Promotion: Bank of American Customer Benefits

Like M1 Finance, Merrill Edge isn’t a true robo-advisor in the sense that it only relies on algorithms to manage your money. Instead, the investment arm of Bank of America combines computer-driven decisions with the expertise of its investment team. It adapts your investment strategy for maximum returns with its Guided Investing platform.

While Merrill Edge doesn’t provide an upfront bonus, customers can take advantage of a host of perks through the Bank of America Preferred Rewards program. To qualify, you need to have a Bank of America personal checking account plus meet three-month average minimum balances between Bank of America bank accounts and Merrill investment accounts.

Here’s what you’ll get with Bank of America and Merrill Edge on each level:

Gold ($20,000 minimum)

  • 5% more interest on savings accounts
  • 25% more rewards on credit cards
  • 0.05% fee discount on your Merrill Edge Guided Investing account
  • $200 savings on mortgage origination fees
  • 0.25% discount on auto loans
  • No fees on select banking services

Platinum ($50,000 minimum)

  • 10% more interest on savings accounts
  • 50% more rewards on credit cards
  • 0.10% fee discount on your Merrill Edge Guided Investing account
  • $200 savings on mortgage origination fees
  • 0.35% discount on auto loans
  • No fees on select banking services
  • No out-of-network ATM fees on up to 12 transactions per year

Platinum Honors

  • 20% more interest on savings accounts
  • 75% more rewards on credit cards
  • 0.15% fee discount on your Merrill Edge Guided Investing account
  • $200 savings on mortgage origination fees
  • 0.50% discount on auto loans
  • No fees on select banking services
  • No out-of-network ATM fees on all transactions

5. Wealthsimple Promotion: No Annual Fee When Minimum Is Met

Based in Canada, Wealthsimple offers a true robo-advisor experience, with the chance for a break on its annual fee for people who invest more than $100,000 with the company. Once you join, you can take advantage of the firm’s referral program to save money on fees.

For every person, such as friends and family members, that you refer to Wealthsimple, who joins and funds their account, you’ll get $10,000 in assets managed for free for 12 months. With a 0.50% annual fee, that’s up to $50 per referral. What’s more, the people you refer will also get up to $10,000 managed for free for 12 months, making it a win-win situation for both of you.

6. Wealthfront Promotion: First $5,000 Managed for Free

One of the first companies to pioneer robo-advising, Wealthfront charges a low 0.25% annual fee to manage your portfolio through computer-driven analysis. If you sign up for an account through one of the firm’s affiliate partners — you can search online for the promotion— you’ll get your first $5,000 managed for free.

That’s a savings of up to $12.50 per year, which isn’t a lot. But if you’re just starting out, free is free.

Additionally, you can get more savings through the Wealthfront Invite program. Similar to Wealthsimple’s referral program, you’ll get an additional $5,000 managed for free for each person you invite to Wealthfront, who funds an investment or cash account.

Instead of placing a hard expiration on the benefit, though, Wealthfront provides the additional free management for as long as the person you referred maintains a funded account with the firm. This means you could get free management on some or all of your investments for years.

7. Ellevest Promotion: Free First Month

Primarily designed as a money manager for women, by women, Ellevest is open to all genders. Ellevest Digital charges a low 0.25% annual fee with no account minimum, and you’ll get a true robo-advisor experience. If you want access to a CFP professional, though, you can upgrade to Ellevest Premium, which comes with a 0.50% annual fee. There is a $50,000 minimum for this tier.

If you sign up for an account through one of the firm’s affiliate partners, you’ll get your first month free.

Ellevest focuses primarily on female investors by providing them with different advice than what you might get from a traditional robo-advisor, which treats men and women equally based on earnings and opportunities. Additionally, if you choose to pay for Ellevest Premium, CFP professionals can provide you with targeted advice for financial issues that women face more than men.

8. Blooom Bonus: $15 Discount With Promo Code

Blooom offers all the standard features of a robo-advisor, but its fee structure is different from what its competitors provide. Instead of charging you a percentage of your portfolio every year, Blooom offers three pricing plans with a flat annual fee.

For example, with the Essentials tier, which is $95 per year, you’ll get a personalized portfolio, and that’s it. Choose the Standard plan at $120 per year, and you’ll also get auto-optimization for your portfolio, withdrawal alerts and access to advisors. Pay $250 per year for the Unlimited tier, and you’ll get all the benefits of the lower tiers plus priority access to the firm’s advisors.

Regardless of which plan you choose and how much you invest, you can get $15 off with the promo code COOODE15. Blooom also offers bigger discounts from time to time, too, so check the robo-advisor’s website for updates.

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How to Choose the Right Robo-Advisor

Getting a bonus for signing up for a robo-advisor or by referring friends and family members can be a significant incentive to join. However, it’s important to consider the full scope of what each robo-advisor provides to determine the right one for you.

As you compare these and other robo-advisor promotions you come across, consider how much money you have to invest and how much you’d earn or save with an upfront bonus. If you’re new to investing and don’t have much money to spare, getting a few months of free management, for instance, won’t provide much value. And if you don’t have enough to meet minimum deposit requirements, you may not get anything at all.

As a result, it’s important to look at the services each robo-advisor provides. Is it a fully robo-driven experience or is there a human element involved, too, for instance?

Finally, consider the ongoing fees each robo-advisor charges. Getting free management for a while is nice, but if you end up paying more over time, it may not be worth it.

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Any product or service prices/offers that appear in this article are accurate at time of publish, and are subject to change without notice. Please verify the actual selling price and offer details on the merchant's site before making a purchase.
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Ben Luthi

Ben Luthi is a personal finance and travel writer and credit card expert. He has a degree in finance from Brigham Young University and worked in financial planning, banking and auto finance before writing full-time for NerdWallet and Student Loan Hero. Ben is now a full-time freelance writer and enjoys traveling and spending time with his two kids. His work has appeared in several publications, including U.S. News & World Report, USA Today, Money, Success and Slickdeals.

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