Schwab Intelligent Portfolios review

Schwab Intelligent Portfolios charges no advisory fee and no commissions at any balance, which makes it the cheapest service here for larger accounts on paper. You need $5,000 to open, and the robo advisor then builds a diversified portfolio of low-cost ETFs, monitors it daily and rebalances it automatically. Tax-loss harvesting is available for taxable portfolios of $50,000 or more with no added fee, and Schwab offers 24/7 live support from US-based service professionals. The catch is cash. Schwab explains that it does not charge an advisory fee in part because of revenue Schwab Bank earns on the portfolio's cash allocation, and it calls that allocation an indirect cost of the program, so part of every portfolio sits in an FDIC-insured deposit account instead of the market. Investors who are fine with a cash cushion get free management; investors who want every dollar invested may prefer a 0.20% to 0.25% fee elsewhere.

Who it is for

Investors with $5,000 or more who want no advisory fee

Price

No advisory fee and no commissions; $5,000 minimum.

Get started with as little as $5,000. Backed by our commitment to keeping costs low. Pay no advisory fee and no commissions.
Quoted from the vendor pricing page on November 12, 2026.

Key features

• No advisory fee and no commissions
• Diversified portfolio of low-cost ETFs, including Schwab ETFs
• Daily monitoring and automatic rebalancing
• Tax-loss harvesting for taxable accounts with $50,000 or more
• 24/7 live support from US-based service professionals

Strengths and weaknesses

• Strength: $0 advisory fee at every balance, not only below a cap
• Strength: 24/7 live support from US-based professionals
• Strength: Tax-loss harvesting has no extra fee once you reach $50,000
• Weakness: $5,000 minimum is the highest entry point among the no-fee options
• Weakness: Every portfolio holds a cash allocation at Schwab Bank, which Schwab says is how it earns revenue
• Weakness: Tax-loss harvesting needs $50,000

Key facts

• Advisory fee: None
• Minimum: $5,000
• Tax-loss harvesting: From $50,000
• Support: 24/7 live, US-based

Where it ranks

Schwab Intelligent Portfolios is No. 5 in our Best Robo Advisors verdict.