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TD Ameritrade Robo-Advisors Review


ConsumersAdvocate.org Rating: 4.5 / 5 (Excellent)
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TD Ameritrade Inc., previously known as TD Waterhouse Investor Services Inc., was founded in 1975 and is headquartered in Omaha, Nebraska. The company is a brokerage firm with an online trading platform that allows consumers to purchase and sell financial securities, including stocks, futures, options, and mutual funds, among others.
 
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How is TD Ameritrade rated?

Breakdown

4.0/5
Features
4.8/5
Pricing and fees
4.8/5
Reputation

Overall Rating: 4.5 / 5 (Excellent)

TD Ameritrade is a great option for those looking for a simple automated investment solution with a low annual fee. The company’s Essential Portfolios offer consumers Core Portfolios and Socially Aware Portfolios, which are ideal for those interested in investing in companies with strong environmental, social, and governance practices. All portfolios come with five levels of risk and four investment goals to choose from. Consumers can open, fund, track, and manage their accounts online or on the company’s mobile app, which is great for those who are tech-savvy and looking for investment solutions on the go. Additionally, all portfolios offer tax-loss harvesting and automatic rebalancing, to optimize earnings. However, it should be noted that the company requires a minimum opening balance of $5,000, which is higher than other companies reviewed by us, but still has a low annual fee of 0.30%, which is a plus.

TD Ameritrade’s platform is easy to navigate, and consumers have access to portfolio performance charts, personalized tips to help them stay on track with their investment goals, and a complete FAQ section, for a smoother experience. Customer support is available 24/7 via live chat, social media, email, text, and over the phone. Consumers can also visit the company’s local branches for assistance. So, if you have some extra cash laying around and are looking for smarter ways to invest, TD Ameritrade Essential Portfolios is a good option to consider.

TD Ameritrade Account Features

Features - 4 / 5

TD Ameritrade Essential Portfolios offer consumers an automated, low-cost investment solution with different goal-oriented ETF portfolios to choose from. The portfolios are divided into two main categories: Core Portfolios and Socially Aware Portfolios. Core Portfolios allow consumers to invest in a combination of diversified, low-cost ETFs that are recommended based on their investment goals, risk tolerance, and time frame. Socially Aware Portfolios are a mix of diversified, low-cost ETFs invested in companies with strong environmental, social, and governance practices. Both portfolios offer 5 levels of risk to choose from: low, fairly low, medium, fairly high, and high, and four investment goals: retirement, general investing, education expenses, or large purchase. Additionally, customers can set their desired time frame, and financial growth expectations. Once consumers provide this information, TD Ameritrade’s platform will create a customized portfolio based on their needs.

Essential Portfolios are rebalanced automatically for investment optimization, and offer tax-loss harvesting, which is a complimentary service that analyzes your portfolio daily to reduce tax liability. Consumers can open, fund, track, and manage their Essential Portfolios online or on the company’s mobile app, and customer support is available 24/7.
Robo-advisor Type
Fully Automated
Account Minimum
$5,000
Goals
Save for Retirement
Save Set AmountSave for a Major Purchase
Education Expenses
General Investing
Types of Assets
ETF Portfolios
Access to Financial Advisors
Yes
Automatic Portfolio Rebalancing
Yes
Tax Loss Harvesting
Yes

Investment Focus

In addition to its Core Portfolios, TD Ameritrade also offers Socially Awareness Portfolios. These portfolios allow consumers to invest in companies with stronger environmental, social, and governance practices.

TD Ameritrade Fees & Commission

Pricing and fees - 4.8 / 5

TD Ameritrade requires a minimum opening balance of $5,000 for its Essential Portfolios and charges an annual account management fee of 0.30%. The annual account management fee is paid in advance and is deducted from cash at the beginning of each quarter.
Billing Frequency
Annual
Commission
0.30%
Special Promotions
TD Ameritrade is offering consumers a free investment consultation with an experienced agent, upon visiting one of the company's physical branches.
Fees
Account Management

TD Ameritrade Reputation & Customer Service

Reputation - 4.8 / 5

TD Ameritrade has been rated A2, and B++ by Moody’s and A.M. Best, respectively. The company is also accredited by the BBB, and has an A+ rating within the organization, which is excellent. Additionally, it has a 6.0 score on TrustPilot, which is average, and 2 complaints with the CFPB. However, it should be noted that the 2 complaints are regarding the company’s banking services, not its investment products.

TD Ameritrade’s website and mobile app are easy to use, and customer service is available 24/7 through live chat, email, text, social media, and over the phone. Additionally, consumers can also visit the company’s physical branches for support.
Year Founded
1975
Moody's Financial Rating
A2
AM Best Financial Rating
B++
Consumer Financial Protection Board (CFPB) Complaints
2
SIPC Membership
Yes
BBB Rating
A+
Trust Pilot Rating
6.0 out of 10
Contact Methods
Phone
Email
Chat
Social Media
Text
Mobile App
Yes
Date Collected
2018-11-09

Free Customer Support

TD Ameritrade offers consumers 24/7 free customer support via live chat, phone, email, through social media, and text.

Company Profile

Full Name
TD Ameritrade Robo-Advisors
Company Website
https://www.tdameritrade.com/home.page
Headquarters
200 South 108th Avenue, Omaha, NE, 68154

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