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In the past decade or so, robo-advisors have been taking business from traditional brokerages. In order to keep up, brokerages like TD Ameritrade have begun to offer automated portfolios that compete with robo-advisor services. Essential Portfolios is the automatically managed, online portfolio offering from TD Ameritrade. It is a relatively new service that’s still in development, but it is a solid choice for someone who wants fully automated portfolio. Looking for more than just an automated portfolio? TD Ameritrade offers other trading and investing options for competitive fees. You can also feel comfortable knowing that your money is being held by a reputable company.
TD Ameritrade Essential Portfolios is meant to give you a simple and affordable robo-advisor option. There is no cost to open an account and its mobile apps are also free. There is only one management fee of 0.30% no matter how much you invest. This fee is competitive with other brokers and robo-advisors. The minimum deposit for an account is $5,000. The ETFs in your account will charge you fees but their expense ratios are between 0.06% and 0.08%. That’s low. Many other robo-advisors have an average ETF expense ratio closer to 0.15%.
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