Vanguard Group
With a minimum of $1,000, investors can buy one of 12 target-date retirement funds, which automatically spread assets across stocks, bonds, and international investments, and adjust risk as clients get closer to retirement. The fees on Vanguard’s Target Retirement Funds are 0.16 to 0.18 percent per year.
Most other Vanguard funds have higher minimums. For example, the popular Vanguard Total Stock Market Index Fund requires a minimum investment of $3,000. Its regular fee is 0.17 percent per year, but clients with more than $10,000 in the fund can pay just 0.05 percent.
Wealthfront
The robo-advisor this month lowered its minimum from $5,000 to $500. It charges no fees on the first $10,000 invested, and 0.25 percent annually on assets over $10,000.
Wells Fargo
There’s no minimum deposit to open an account through Wells Fargo’s online platform, WellsTrade. The firm does charge a $25 fee on accounts less than $5,000, but that can be waived if you sign up for other Wells Fargo products.