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Robo-Advisor vs. Your Own ETF Portfolio: Costs and Control
Key takeaways
- A robo-advisor charges an additional layer of fees on top of the underlying ETFs.
- Your own portfolio with a direct broker is usually cheaper but requires your own rebalancing decisions.
- Total costs include both the fund's TER and the platform fee — always add both together.
- For a beginner with a small amount, a robo-advisor can reduce emotionally-driven mistakes.
- With a portfolio above CZK 200,000, the fee difference begins to have a meaningful impact on the outcome.
A robo-advisor is an automated platform that builds and manages an ETF portfolio for you — at a premium over buying the ETFs yourself. The question is not which approach is better in general, but which is better for you specifically.
Where the cost difference arises
An ETF itself carries an annual TER — for broad global funds, typically 0.07–0.20% per year. A robo-advisor adds its own management fee, most commonly 0.3–0.9% per year. The total annual cost therefore tends to be 0.5–1.1%. Your own portfolio with a direct broker carries only the TER of your chosen ETF.
On CZK 500,000 with an average return of 7% per year and a 0.6% cost difference, after 20 years this amounts to approximately CZK 160,000 in favor of the self-managed portfolio. These are not small numbers.
What a robo-advisor actually offers
- Automatic rebalancing — you don't have to monitor deviations from the target allocation yourself.
- Tax optimization — some platforms offer tax-loss harvesting.
- Low entry amount — you invest even small amounts without worrying about spread costs.
- Psychological comfort — no decision about "what to buy and when".
When a self-managed portfolio is worth it
Once you can check your allocation once a year and, if necessary, top up the underweighted fund, a portfolio of two or three ETFs is simpler than it sounds. Read how to build your first portfolio and calculate how much extra you pay annually with a robo-advisor.
How to compare fairly
It's not enough to compare just the platform fee. Add together the TER of all ETFs in the portfolio plus the annual management fee. The result is your total annual cost. For your own portfolio, it's only the TER — typically 0.07–0.15%. More on choosing a broker in the Czech Republic in a dedicated article.
FAQ
How much does a robo-advisor typically charge?
Most commonly 0.3–0.9% per year for management, plus the TER of the underlying ETFs (0.1–0.3%). Total annual costs therefore tend to be 0.5–1.1%. With a direct broker, you pay only the ETF's TER, typically 0.07–0.20% per year.
Does a self-managed ETF portfolio make sense even for a beginner?
Yes, if you're willing to spend an hour per year checking your allocation. A beginner with a small amount and a strong tendency to react to market swings may benefit from a robo-advisor's automated approach — it avoids emotional mistakes.
How do I know if a robo-advisor is worth it?
Compare its total annual cost (fund TER + platform fee) with what you would pay with a direct broker. If the difference is less than the value of the convenience and automation the platform provides, it is a reasonable choice.