Wealthfront vs Schwab Intelligent Portfolios (2026)
Wealthfront charges 0.25% a year from a $500 minimum and harvests losses in taxable accounts at any balance. Schwab Intelligent Portfolios charges no advisory fee but needs $5,000 and holds 6% to 30% of each account in cash at Schwab Bank, which lowers returns when stocks and bonds out-earn cash.
By Wealthy Pot Editorial · Facts checked October 19, 2026
| Feature | Wealthfront | Schwab Intelligent Portfolios |
|---|---|---|
| Type | Standalone | Broker-owned |
| Advisory fee | 0.25%/yr (Bond Ladder 0.15%, S&P 500 Direct 0.09%) | $0 advisory fee; 6% to 30% held in cash at Schwab Bank |
| Year cost on $5,000 | $12.50 + funds | $1 to $7.50 |
| Year cost on $25,000 | $62.50 + funds | $5 to $37.50 |
| Year cost on $100,000 | $250 + funds | $20 to $150 |
| Account minimum | $500 | $5,000 |
| Tax-loss harvesting | Yes | Yes |
| Platforms | Web, iOS, Android | Web, iOS, Android |
| Best for | Automated investing with tax-loss harvesting from $500 and direct indexing from $100,000 | Schwab clients with $5,000+ who accept a cash allocation in place of an advisory fee |
Year-cost rows are our arithmetic: advisory fee plus typical fund expenses, balance held flat for a year, using each firm's published fee rules. Hypothetical, not a quote.
Key differences
The table shows Schwab at $0 in advisory fees, but Schwab's own brochure says the program "is not free of charge". Schwab holds 6% to 30% of each account in cash at Charles Schwab Bank, paying 3.47% APY from October 1, 2026, and Schwab Bank keeps the spread. Hypothetically, on $25,000 with 10% in cash, $2,500 earns $2,500 x 3.47% = $86.75 a year, and each percentage point by which stocks and bonds out-earn cash costs $25 a year (1% of the $2,500 held in cash). A 2.5 point gap would match Wealthfront's $62.50 advisory fee on the same balance.
Entry points differ. Wealthfront needs $500 for its managed portfolio; Schwab needs $5,000 in each account. Tax-loss harvesting starts at different balances too: Wealthfront runs it on taxable portfolios with no minimum balance, while Schwab's is opt-in and needs $50,000 in a single taxable account to activate. At $100,000 in a taxable account, Wealthfront adds US Direct Indexing at no extra fee; Schwab builds portfolios from a fixed list of ETFs. Schwab states its weighted fund costs, 0.02% to 0.15% a year; Wealthfront shows its fund costs only in the app.
Neither offers planning advice to new clients. Wealthfront is software only. Schwab has 24/7 live phone and chat service from US-based staff, which is service rather than planning, and its Premium page has redirected to the main page since about March 2026. Schwab lists custodial, revocable trust, Inherited, SEP and SIMPLE IRA accounts; Wealthfront lists joint, trust and custodial accounts, IRAs and a Nevada 529. Both have SEC history: Schwab subsidiaries paid $187 million in June 2022 over past cash allocation disclosures, and Wealthfront paid a $250,000 penalty in December 2018.
Where Wealthfront wins
- Tax-loss harvesting on taxable portfolios with no minimum balance
- US Direct Indexing from $100,000 and Smart Beta from $500,000 at no extra fee
- No transfer, closing, withdrawal or trading fees
- Lower-fee options: Bond Ladder 0.15%, S&P 500 Direct 0.09%
- Joint, trust and custodial accounts besides IRAs
Where Schwab Intelligent Portfolios wins
- $0 advisory fee and no commissions at any balance
- Portfolio-level fund expenses of 0.02% to 0.15% a year
- The cash share earns interest, 3.47% APY from October 1, 2026
- Custodial, revocable trust, Inherited, SEP and SIMPLE IRA accounts are eligible
- Tax-loss harvesting at no added fee from $50,000
- 24/7 live phone and chat service
Which should you choose?
Pick Wealthfront if
- You want tax-loss harvesting in a taxable account at any balance.
- You want a percentage fee with no flat monthly charge and no transfer-out fee.
- You have $100,000 or more in a taxable account and want US direct indexing at no extra fee.
- You want a Treasury ladder (0.15%) or an S&P 500 direct index (0.09%) managed alongside.
Pick Schwab Intelligent Portfolios if
- You have $5,000 or more and prefer a cash allocation that earns interest over an advisory fee.
- You want a managed custodial account, revocable trust, Inherited IRA or SIMPLE IRA.
- You have $50,000 or more in a taxable account and want tax-loss harvesting at no extra charge.
- You want live phone and chat service around the clock.
Wealthfront vs Schwab Intelligent Portfolios: FAQ
Is Schwab Intelligent Portfolios really cheaper than Wealthfront?
Not always. Schwab charges no advisory fee, while Wealthfront charges 0.25%, or $62.50 on $25,000. But Schwab keeps 6% to 30% of the account in cash at 3.47% APY (from October 1, 2026). Hypothetically, with 10% of $25,000 in cash, each point that stocks and bonds out-earn cash costs $25 a year, so a 2.5 point gap equals Wealthfront's fee.
Which does tax-loss harvesting on a smaller account?
Wealthfront runs tax-loss harvesting on taxable portfolios with no minimum balance. Schwab Intelligent Portfolios offers it only if you opt in and hold $50,000 in a single taxable account. Neither applies it in IRAs, and any tax saving depends on your own gains and bracket.
Can I start with $1,000 at Wealthfront or Schwab?
At Wealthfront, yes: the managed portfolio needs $500. Schwab Intelligent Portfolios needs $5,000 in each account. For a smaller start, Fidelity Go starts investing at $10 and Vanguard Digital Advisor needs $100.
Compare these against every option in our robo-advisors comparison.
We summarize each company's published terms and pricing, not user reviews or our own testing. Facts come from our full reviews of both services, each checked against the firm's own fee pages and SEC filings on October 19, 2026 with every source listed. We do not earn a commission from either service. Nothing here is investment advice.