What is a Good IRA Management Fee?

Fees associated with an IRA can have a dramatic impact on your retirement savings. A difference of just 0.1% could eat away at your investments by $10,000 over 20 years!

Search for an account provider with low or no account fees – including account setup fees and maintenance/custody costs – as well as one that offers low-cost investments.


Betterment offers a comprehensive suite of investment services, from automated investing and diversified portfolios to tax-smart tools. Their sign-up process guides users through goal setting exercises – such as setting aside an emergency fund and estimating retirement savings – before suggesting an ETF portfolio from multiple asset classes as recommended by Betterment’s system.

Betterment’s fees are among the lowest of any robo-advisor, and its premium plan costs less than traditional human financial advisors. Furthermore, Betterment boasts several unique features unavailable elsewhere, such as tiling and tax-loss harvesting.

Betterment has earned a stellar reputation by offering its clients an exceptional customer experience and providing access to human financial planners for a fair fee. They offer competitive investment fees as well as low transfer, custodial and trading expenses. Furthermore, Betterment secure accounts come equipped with SIPC insurance for deposit accounts as well as FDIC coverage and two-factor authentication – making them one of the premier robo-advisors for IRAs.


Ellevest is a robo-advisor offering individual taxable accounts as well as traditional, Roth, and SEP IRAs for individuals and small business. Their investment portfolios can be personalized to each investor’s goals while being regularly rebalanced to keep in line with original goals and socially responsible investments if desired.

Ellevest stands out from competitors by not requiring an account minimum balance to begin investing with personalized guidance, making the platform accessible even to those starting with no funds at all. Unfortunately, however, they don’t provide tax loss harvesting or mobile apps; additionally their fees tend to be higher than other robo-advisors.

Ellevest holds an A+ rating with the Better Business Bureau, making them an attractive option for young investors looking for ways to save for retirement but lack time or expertise to manage their investments on their own. They provide great customer service and remain free from major lawsuits or scandals – making Ellevest an excellent option for millennials with busy lives who wish to save without taking time away from other pursuits.


SoFi offers an efficient user experience online and via mobile devices, and offers a hefty $300 cash bonus when opening an IRA with direct deposit. Their IRA accounts also boast some of the lowest management fees we’ve seen as well as direct access to certified financial planners.

SoFi’s IRA accounts are free to open and do not require a minimum investment balance, although there may be costs associated with opening and maintaining them such as account setup fees, custodial fees and trading commissions.

SoFi has witnessed an increasing interest from Millennials and Gen Z adults as evidenced by its increase in brand equity – measured by familiarity, quality, consideration, momentum – from these demographic groups. Furthermore, soFi has taken steps to reduce processing times for credit applications which has lead to greater customer satisfaction.

Charles Schwab

Schwab is an industry leader when it comes to retirement accounts, offering both traditional and Roth IRAs with low fees, no minimum deposits required and an extensive selection of no transaction-fee ETFs. Their customer service is also unparalleled.

Schwab offers educational materials on investing, financial planning and trading – such as articles, infographics and slideshows. Schwab also hosts webinars and seminars at its branches.

Ally Invest Robo Portfolios is another good option for IRA investors who prefer having a substantial portion of their portfolio in cash, which the account features at an extremely reasonable 0.30% management fee for robo-advisors.

Charles Schwab also provides customers looking to invest in individual stocks and bonds with an easy, low-cost IRA option, although this service may not be available in every state. Their account management team of experienced investment professionals hold it at Schwab Bank SSB with FDIC insurance up to $250,000 per depositor/owner category.

Raymond Banks Administrator
Raymond Banks is a published author in the commodity world. He has written extensively about gold and silver investments, and his work has been featured in some of the most respected financial journals in the industry. Raymond\\\'s expertise in the commodities market is highly sought-after, and he regularly delivers presentations on behalf of various investment firms. He is also a regular guest on financial news programmes, where he offers his expert insights into the latest commodity trends.

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