A Robo-advisor That Allows for Cust… AI recommendations | Parse
I am looking for a robo-advisor that allows for custom indexing and does not just buy standard ETFs.
Data as of Sep 24, 2026 · Based on 290 AI responses from ChatGPT Search and Google AI Mode · See how Parse measures this
For custom indexing that goes beyond standard ETFs, Wealthfront is a highly recommended automated choice for tax-loss harvesting, though it requires a $100,000 minimum. If you prefer DIY control over individual stock weights, M1 Finance or Fidelity's basket tools offer flexible portfolio builders. For more advanced needs involving specific tax strategies or professional advice, Vanguard and Schwab offer dedicated personalized indexing services.
Brands AI recommends here
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Wealthfront
Named in 74% of answers
Best for automated tax-loss harvesting. It uses direct indexing to buy individual stocks instead of ETFs, but requires a $100,000 balance for this feature. It is ideal for investors seeking a hands-off, tax-optimized experience.
Best for DIY customization. The platform provides a hybrid model where you can create your own custom portfolios (called 'pies') from scratch, giving you full control over specific stocks, unlike traditional managed robo-advisors.
Vanguard Personalized Indexing - Custom Direct Indexinghttps://advisors.vanguard.com/investments/approach/personalized-indexing
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5 Best Brokers with the Lowest Direct Indexing Feehttps://www.cissnaparkcoop.com/news/story/35829610/5-best-brokers-with-the-lowest-direct-indexing-fee
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Question: I am looking for a robo-advisor that allows for custom indexing and does not just buy standard ETFs.
What you are looking for is called direct indexing (sometimes referred to as stock-level tax-loss harvesting). Instead of buying a pooled ETF or mutual fund that tracks an index, a direct indexing robo-advisor buys the actual individual underlying stocks in exact proportions to mimic that index.
This allows for automated customization, such as excluding specific companies/sectors (e.g., for personal values or avoiding concentrated employer stock) and hyper-personalized tax-loss harvesting at the individual stock level.
Top robo-advisors offering direct indexing features include:
Wealthfront: One of the pioneers of bringing direct indexing to retail investors. They offer standalone products like S&P 500 Direct and Nasdaq-100 Direct (which have a low $5,000 minimum ), as well as US Direct Indexing built into broader automated portfolios (which kicks in at a $100,000 minimum account balance). It heavily utilizes individual stock movements to maximize tax savings.
Vanguard Personalized Indexing: Operates via Separately Managed Accounts (SMAs) to give you direct ownership of individual stocks. It is tailored for investors wanting to apply specific factor exposures, express ESG/SRI preferences, or manage concentrated single-stock positions, though it typically targets higher wealth tiers.
Schwab Personalized Indexing: Another major brokerage solution providing an SMA structure that tracks a selected index via a subset of individual securities, allowing you to specify stock exclusions and optimize tax harvesting.
If you'd like to narrow this down, let me know:
What is your approximate investment amount?
Are you looking to exclude specific sectors/stocks (like fossil fuels or tech), or are you primarily focused on maximizing tax-loss harvesting?
What you’re looking for is generally called direct indexing or personalized indexing: instead of owning an ETF, the account actually owns the underlying stocks, allowing the portfolio to exclude securities, harvest losses at the individual-stock level, and sometimes apply other customizations.
A few options worth investigating:
Wealthfront — Its US Direct Indexing holds individual U.S. stocks rather than simply buying a total-market ETF. Wealthfront also offers S&P 500 Direct and Nasdaq-100 Direct. Its US Direct Indexing is available at $100,000+, while the standalone S&P 500 and Nasdaq-100 products have $5,000 minimums.
Charles Schwab — Schwab Personalized Indexing is a separately managed account that directly owns individual securities. You can exclude individual stocks and industries, with automated tax-loss harvesting. The current minimum is $100,000 and fees start at 0.40%.
Fidelity Investments — Fidelity offers direct-indexing strategies where you own the underlying stocks and can remove securities you don't want. It also offers managed FidFolios with tax-management capabilities.
Vanguard — Vanguard Personalized Indexing is a direct-indexing SMA with individual-stock ownership, automated tax-loss harvesting, and the ability to exclude/include individual securities, industries, and sectors. It appears primarily positioned as an advisor-managed solution rather than a conventional retail robo-advisor.
One important distinction
If by "custom indexing" you mean "I want to create my own index/portfolio—for example, own the S&P 500 but exclude fossil-fuel companies, exclude 10 specific stocks, and perhaps overweight certain companies" then you should look specifically for customizable direct indexing, not merely a robo-advisor that offers tax-loss harvesting.
If you tell me roughly how much you'd invest (e.g. $25k, $100k, $500k+) and whether you want individual-stock exclusions, custom weights, tax-loss harvesting, or all three, I can narrow this down to the providers that actually support what you want and compare their minimums and fees.
Yes. The category you want is generally called direct indexing or personalized indexing: instead of buying an ETF, the robo/advisor buys the underlying stocks individually, allowing for tax-loss harvesting and some customization.
A few current options worth looking at:
wealthfront.com — Probably the closest match to a mainstream robo-advisor. Its S&P 500 Direct and Nasdaq-100 Direct portfolios hold individual stocks, with $5,000 minimums and fees of 0.09% and 0.12%, respectively. Its broader US Direct Indexing is available at $100,000 and uses individual stocks plus completion ETFs.
schwab.com — More customizable: you can exclude individual stocks or entire industries, while Schwab manages the portfolio and tax-loss harvesting. Minimum is $100,000 and the fee starts at 0.40%.
Fidelity Managed FidFolios — Another direct-indexing/SMA option. It's less of a traditional robo-advisor experience, but it allows individually held securities and customization.
Frec — A newer direct-indexing platform with a relatively broad selection of indexes and customization options. It is worth considering if you want more choice over the underlying index rather than simply an S&P 500/total-market replication.
One important distinction
If by "custom indexing" you mean "I want to tell the robo-advisor exactly which companies to own/exclude, while otherwise having it automatically manage the portfolio," that's narrower than simply wanting direct indexing.
For example, Schwab explicitly allows exclusion of individual securities and industries. Schwab Brokerage Wealthfront's direct-indexing products are more prescribed—you choose the strategy, rather than constructing an arbitrary custom index yourself.
If you tell me your approximate account size (e.g. $25k, $100k, $500k+) and whether this is a taxable account, I can compare the relevant options on customization, minimums, fees, tax-loss harvesting, and how much ETF exposure remains.
What you are looking for is called direct indexing (or personalized indexing). Instead of buying a standard ETF wrapper (like the SPY or VOO), a direct indexing robo-advisor buys the actual underlying individual stocks that make up an index. This allows for granular customization—such as screening out specific companies or sectors—and supercharges tax-loss harvesting down to the individual stock level.
Because buying fractional shares of hundreds of individual equities requires a bit more capital and backend infrastructure, direct indexing usually comes with a higher account minimum than standard automated portfolios.
Top automated platforms offering direct indexing include:
Wealthfront — Offers US Direct Indexing for taxable accounts. It manages a custom basket of individual stocks to mimic an index while executing stock-level tax-loss harvesting.
Minimum Investment: $100,000 for the direct indexing feature. You can check it out on the Wealthfront Support Center.
Charles Schwab — Offers Schwab Personalized Indexing , a separately managed account (SMA) solution that goes beyond standard ETFs to let you own individual stocks mirroring an index. It allows for personal preference tweaks and exclusions.
Minimum Investment: $100,000 with management fees starting around 0.40%. More details are available on Schwab Direct Indexing.
Vanguard Personalized Indexing — Historically institutional or advisory-focused, Vanguard's system uses daily automated scans on individual stock holdings to maximize after-tax alpha.
Minimum Investment: Typically targets high-net-worth tiers or requires working through an aligned advisor framework. You can review parameters via Vanguard Personalized Indexing.
To help narrow down the right option, what is your approximate account size for this strategy, and are you more interested in customizing/excluding specific stocks (like ESG) or purely optimizing for tax-loss harvesting?
Yes. What you’re looking for is usually called direct indexing or personalized indexing: instead of buying an ETF, the robo/advisor buys the underlying stocks individually, which allows for tax-loss harvesting and, with some providers, custom exclusions or weighting.
Here are the strongest options I’d look at:
Provider
What you can customize
Minimum
Fee
Wealthfront
Individual-stock restrictions; direct indexing; factor tilts at higher balances
$5k for S&P 500 Direct; $100k for broad-market direct indexing
0.09% S&P 500 Direct; 0.25% overall robo fee for USDI
Charles Schwab Personalized Indexing
Exclude individual stocks/industries; personalized index portfolio
$100k
0.40%
Fidelity
Pick stocks/ETFs or customize prebuilt direct-index models
$5k for managed direct-indexing offering
Account-dependent
Titan
Direct ownership of S&P 500 stocks; less of a DIY customization platform
$20k
0.40%
Parametric
Much deeper customization, including custom indexing and factor/sector choices
Generally higher minimums depending on platform
Typically higher than consumer robos
My take
If you want a true robo-advisor: I'd start with Wealthfront. Its S&P 500 Direct portfolio owns individual stocks rather than an ETF, with a $5,000 minimum and a 0.09% advisory fee. Its broader US Direct Indexing strategy is available at $100,000+.
However, there's an important distinction: Wealthfront's direct indexing isn't a completely arbitrary "build whatever index I want" system. Its standard direct-indexing portfolios are designed around particular indexes, and customization is primarily through restricted stocks rather than freely assigning your own weights.
If customization is the main thing you care about, Charles Schwab Personalized Indexing is more interesting. It lets you exclude individual stocks and industry categories while maintaining a professionally managed direct-indexed portfolio. The tradeoff is the $100,000 minimum and 0.40% starting fee.
If you mean truly custom indexing—e.g., "Take the S&P 500, remove tobacco and defense, cap Nvidia at 3%, overweight profitable companies, and tax-loss harvest the resulting portfolio"—then I'd look beyond the consumer robo-advisors toward Parametric or similar SMA/direct-indexing platforms. Vanguard's Personalized Indexing offering, for example, supports a considerably broader range of customization, factors, sectors, industries and countries, although it's oriented toward advisors rather than being a simple consumer robo.
If you tell me roughly how much you'd invest ($25k, $100k, $500k, $1M+) and whether this is a taxable account, I can narrow this down to the 3 best fits and compare their actual customization capabilities, tax-loss harvesting, fees, and minimums.
If you want to move beyond standard ETFs and own the underlying individual equities of a market index—a strategy known as direct indexing —several automated and robo-advisory platforms offer this capability.
Direct indexing lets the algorithm buy individual components of an index (like the S&P 500) inside a separately managed account, giving you the power to customize stock exclusions (such as specific sectors or values-based screening) and supercharge tax-loss harvesting down to the individual stock level.
Top options providing automated custom indexing instead of just wrapping everything in standard ETFs include:
Public.com (Direct Index Accounts)
The Setup: Offers automated direct indexing allowing you to track major benchmarks while customizing your stock selection and optimizing for after-tax returns.
Minimum Investment: Starts as low as $1,000 (though varying slightly depending on the exact index and number of stocks chosen).
Fees: An annual management fee of 0.19% with no underlying ETF expense ratios.
The Setup: Fidelity’s automated separately managed accounts that buy and manage a basket of individual stocks tracking an index or theme, rather than packaging them into an ETF.
The Setup: Wealthfront pioneered accessible direct indexing. Their S&P 500 Direct option builds a portfolio using a optimized subset of 100 to 500 individual stocks from the index. (Note: Their legacy full US Direct Indexing requires a higher tier).
Minimum Investment: $5,000 for S&P 500 Direct.
Fees: 0.09% annual advisory fee for direct indexing features on top of standard management.
The Setup: Traditional heavyweights offering direct indexing separately managed accounts (SMAs). These are typically tailored for higher-net-worth clients or deployed in coordination with a hybrid human/automated advisory relationship.
Minimum Investment: Generally higher (often starting at $100,000+ depending on the program tier).
Would you prefer an option with a lower entry minimum (like Public or Fidelity) or are you looking for specific features like values-based stock exclusions or aggressive tax-loss harvesting?
Yes. What you’re looking for is generally called direct indexing or personalized indexing: instead of buying an ETF, the platform buys the underlying individual stocks and can customize the portfolio.
A few options stand out:
Wealthfront — probably the closest match if you want a true robo-advisor. Its direct-indexing portfolios hold individual stocks rather than an ETF. Its S&P 500 Direct product has a $5,000 minimum and 0.09% annual fee, and you can exclude individual stocks while the system rebalances around the exclusions. Its broader US Direct Indexing option requires $100,000.
Charles Schwab Personalized Indexing — substantially more customizable: you can exclude individual securities and industries, with automated tax-loss harvesting. However, this is more of a professionally managed SMA than a conventional robo-advisor, with a $100,000 minimum and fees starting at 0.40%.
BlackRock Aperio — very sophisticated personalized direct indexing, including tax-managed SMAs and substantial customization. This is aimed more at high-net-worth investors/advisors than someone looking for an inexpensive retail robo.
One important distinction
If by "custom indexing" you mean "I want to define my own index/rules — e.g., start with the S&P 500, remove 30 companies, overweight certain sectors, add specific stocks, and have the robo automatically rebalance it" — that's a narrower requirement.
Wealthfront is customizable, but it isn't a completely open-ended build-your-own-index robo. Schwab's advisor ecosystem includes technology such as Alphathena and Syntax that can build much more customized direct indexes, but those are primarily advisor/institutional solutions rather than a simple consumer robo.
If you tell me (1) roughly how much you'd invest, (2) taxable vs. IRA, and (3) exactly what kind of customization you want, I can narrow this down to the 3–5 best platforms, including fees, minimums, tax-loss harvesting, and how much control you actually get over the individual stocks.
What you are looking for is called direct indexing (sometimes referred to as personalized indexing). Instead of buying a standard ETF (like VTI or SPY) which wraps hundreds of stocks into one pooled fund, a direct indexing robo-advisor buys the actual underlying individual stocks inside a Separately Managed Account (SMA) in your name.
This allows the algorithm to optimize your tax bill through hyper-granular tax-loss harvesting and, depending on the platform, exclude specific stocks (e.g., for ESG/social values or avoiding a concentrated employer stock position).
The top robo-advisors and automated platforms offering direct indexing, along with their requirements, include the following:
Wealthfront
How it works: Offers standalone direct indexing products like S&P 500 Direct and Nasdaq-100 Direct , as well as broader US Direct Indexing for their automated taxable accounts. It purchases individual stocks to track the index and aggressively harvests losses at the individual stock level.
Minimums: You can access standalone S&P 500 or Nasdaq-100 direct indexing with a lower $5,000 minimum . Their comprehensive US Direct Indexing strategy kicks in automatically once your overall taxable automated account reaches $100,000.
Where to start: Learn more via Wealthfront Direct Indexing.
If you'd like to narrow this down, let me know:
What is your approximate investment budget for this account?
Are you looking to exclude specific sectors or stocks (like fossil fuels or tobacco), or is your primary goal tax optimization?
When you are looking for automated digital investing that bypasses standard pooled ETFs in favor of holding individual underlying equities, you are looking for platforms that offer direct indexing or fully custom portfolios.
A few top robo-advisors and automated platforms specialize in this approach, moving past standard "cookie-cutter" asset allocation:
Wealthfront
How it works: Wealthfront offers robust Wealthfront Direct Indexing . Instead of buying an S&P 500 or Nasdaq-100 ETF, their algorithm buys and manages the individual component stocks directly in your portfolio.
Customization & Benefits: It primarily uses direct ownership to supercharge tax-loss harvesting (harvesting dips in individual stocks even when the overall index is up). They also offer targeted standalone products or broader US Direct Indexing.
Minimums: Standalone S&P 500 or Nasdaq-100 direct indexing starts at an accessible $5,000 minimum , while broader US Direct Indexing integrated into a full automated portfolio requires $100,000.
Betterment
How it works: Betterment features Betterment Custom Portfolios , which allow you to handpick specific holdings, swap out individual assets, or build a personalized mix from scratch while keeping their automated rebalancing and optimization framework.
Customization & Benefits: You aren't restricted to their pre-built Core or SRI (Socially Responsible) ETF allocations; you can tailor the underlying weightings or substitute allocations to match your precise preferences.
Minimums: Available primarily for taxable individual accounts with low baseline platform minimums (though custom asset selection requires a taxable account setup).
Traditional Brokerage Robo-Offerings (Schwab & Vanguard)
How it works: Major institutions have rolled out automated direct indexing separately managed accounts (SMAs). For instance, Schwab Personalized Indexing builds a custom portfolio of individual stocks tailored to your chosen benchmark and values.
Customization & Benefits: Deep customization to exclude certain sectors, factor tilts, or manage legacy concentrated stock positions.
Minimums: These tend to skew higher—Schwab’s personalized indexing starts at a $100,000 minimum , making it closer to a hybrid digital wealth management tier.
Would you like to know more about the tax implications of shifting from ETFs to direct indexing, or do you have a specific account size / minimum budget in mind?
Yes. What you’re looking for is usually called direct indexing or custom indexing: instead of buying an ETF that owns the index, the platform buys the underlying stocks individually, allowing exclusions, custom weights, and potentially better tax-loss harvesting.
A few strong options as of 2026:
Platform
Individual stocks?
Customization
Minimum
Best for
Wealthfront
Yes
Good
$5k for S&P 500/Nasdaq-100 Direct; $100k broad-market Direct Indexing
Automated investing + tax-loss harvesting
Fidelity Investments
Yes
Very good
$5k Managed FidFolios
Custom stock portfolios with professional management
Charles Schwab
Yes
Very good
Varies
Personalized indexing + advisor relationship
Betterment
Yes, through advisor platform
Very good
Varies
Advisors/firms wanting highly customized models
My first choices
1. Wealthfront — closest to a traditional robo-advisor
Wealthfront's direct-indexing implementation actually purchases individual stocks rather than simply putting you into a total-market ETF. Its broad US Direct Indexing requires $100,000 in a taxable Automated Index Investing account and can hold up to 100 or 600 individual stocks depending on account size.
It also has S&P 500 Direct and Nasdaq-100 Direct, which start at just $5,000. Those let you exclude individual stocks and use individual-stock tax-loss harvesting.
2. Fidelity Managed FidFolios — probably the most interesting if "custom" is the priority
Fidelity lets you choose a collection of stocks and have Fidelity professionally manage and tax-optimize it. The minimum is $5,000. This is much closer to "build me my own index of stocks" than a conventional ETF-based robo.
3. Schwab Personalized Indexing
Schwab's offering is a separately managed account built around individual stocks. You can select the type of index exposure and exclude individual companies or entire industries, while Schwab handles management, rebalancing and tax optimization.
One important distinction
If by custom indexing you mean:
"I want something like the S&P 500, but I want to remove 20 companies, overweight certain companies, impose my own rules, and have the software automatically rebalance it."
that's a narrower requirement than simply "direct indexing." Fidelity and Schwab look particularly interesting for that use case, while Wealthfront is more constrained by its predefined direct-indexing methodologies.
If you tell me (1) roughly how much you'd invest, (2) taxable vs. IRA, and (3) what kind of customization you want—e.g. exclude companies, custom weights, factor tilts, ESG, concentrated positions—I can narrow this to the 2–3 best platforms and compare fees, minimums, tax-loss harvesting, and how customizable the actual stock list is.
How it works: A specialized platform built specifically for low-cost, automated direct indexing without needing a traditional human advisor middleman. It tracks major indexes by holding individual fractional shares and automates tax-loss harvesting.
Minimums: Significantly lower than legacy wealth managers, starting at around a $20,000 minimum investment with management fees starting at 0.09%.
How it works: Provides direct indexing SMAs that track broad benchmarks (like the Schwab 1000, S&P 500, or MSCI social indexes). It allows for custom index strategies and stock exclusions alongside traditional digital/advisory oversight.
How it works: Utilizes software to mirror market-cap benchmarks via direct stock ownership in an SMA, emphasizing daily tax-loss harvesting and custom factor/ESG preferences.
Minimums: Generally tailored for high-net-worth or advised clients, usually requiring higher entry thresholds (often $100k+ or through a Vanguard advisor service).
