Guides › Financial Advisor Fees
Updated September 28, 2026. Quick answer: Interactive Advisors is registered with the SEC as an investment adviser (CRD #145694, confirmed ACTIVE this session via SEC IAPD). Per its own current fee brochure, a $500,000 account would run $1,000 a year under its published fee schedule. Already a client and thinking about leaving? Budget $0 at Interactive Brokers (‘ACATS Deposit or Withdrawal: None’). This review covers what its fee brochure and current SEC registration confirm today; this firm also has a fiduciary-status page and minimum-investment page on this site.
Interactive Advisors at a glance
| Fact | What Interactive Advisors’ own pages say |
|---|---|
| Legal entity | Covestor Ltd (d/b/a Interactive Advisors) |
| Registration | Covestor Ltd (d/b/a Interactive Advisors) is registered with the SEC as an investment adviser (CRD #145694, confirmed ACTIVE this session via SEC IAPD). |
| Fee on a $500,000 account | $1,000 a year, per its own current brochure |
| Minimum to open an account | See the minimum-investment page for Interactive Advisors |
| Cost to leave (exit fee) | $0 at Interactive Brokers (‘ACATS Deposit or Withdrawal: None’) |
What Interactive Advisors’ own fee schedule charges
Interactive Advisors charges distinct Management Fees per portfolio a client invests in; this page prices the firm’s own in-house Interactive Advisors Portfolios (Smart Beta, Asset Allocation, Socially Responsible Investing and Index Tracking, all a flat 0.20%). Its independently-run Manager Portfolios instead charge 0.25% to 0.75%, varying by which outside manager’s strategy is selected. This is not priced here because the brochure states only a range with no single figure per manager.
“For the Interactive Advisors Portfolios, Interactive Advisors charges investing clients an annual Management Fee ranging between 0.10% and 0.20% of the market value of client assets invested in each portfolio. For the Smart Beta, Asset Allocation, and Socially Responsible Investing Portfolios, Interactive Advisors charges 0.20% of the market value of client assets invested in one of these portfolios.”
Interactive Advisors’ own in-house portfolios (Smart Beta, Asset Allocation, SRI) each carry a flat, published 0.20% annual fee; dollar_at = balance x 0.002 at each of the four balances. Its Index Tracking Portfolios also charge 0.20%, per the brochure; its Manager Portfolios (run by independent third-party managers) instead range 0.25% to 0.75% and are not priced here.
| Account balance | Annual fee |
|---|---|
| $250,000 | $500 |
| $500,000 | $1,000 |
| $1,000,000 | $2,000 |
| $2,000,000 | $4,000 |
See the full breakdown, including how the figure is calculated, on Interactive Advisors’ own fee page.
Registration
Covestor Ltd (d/b/a Interactive Advisors) is registered with the SEC as an investment adviser (CRD #145694, confirmed ACTIVE this session via SEC IAPD).
This is a registration confirmation only, not a fiduciary-standard verdict (a registered investment adviser can still be a dual registrant with a broker-dealer, which changes which standard applies in each capacity). For the fiduciary-standard question itself, see the fiduciary-status page for Interactive Advisors.
What it costs to leave
Covestor Ltd, doing business as Interactive Advisors, prorates its fee through the date of termination and refunds any remaining balance, with no separate exit fee of its own. Interactive Advisors does not custody assets itself; its brochure names its affiliated broker-dealer, Interactive Brokers LLC, as the qualified custodian, and Interactive Brokers’ own current fee page states plainly that ACATS deposits or withdrawals cost nothing, a genuine $0, not an honest gap. Schwab’s $50 standard fee is kept only for comparison, since it is not the custodian this firm actually uses.
Full mechanics and sources: how to leave Interactive Advisors.
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- Interactive Advisors (Covestor Ltd) Informational Brochure (February 23, 2024): https://cdn.interactiveadvisors.com/documents/official-notices/informational-brochure-23-feb-2024.pdf?v=5f9548b7
- SEC IAPD firm summary (CRD #145694, checked September 28, 2026): https://adviserinfo.sec.gov/firm/summary/145694
- Interactive Advisors’ current (2026) SEC-filed brochure, independently confirmed to state the same 0.20% fee (March 24, 2026): https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1024287
Methodology. This page was built September 28, 2026, drawing directly on Interactive Advisors’ own current fee brochure, linked above, and a fresh SEC IAPD registration check run the same day. As of September 28, 2026, this site publishes a fiduciary-status page and a minimum-investment page for Interactive Advisors; where the exit-fee page already exists it is linked above and drawn from that already-sourced page. Any fact we could not independently confirm is named as an honest gap rather than presented as verified. Nothing here is personalized financial, tax, legal, or investment advice, and it is not a substitute for reading Interactive Advisors’ own Form ADV Part 2A and Form CRS. We have not used Interactive Advisors as a client. Interactive Advisors did not pay for, review, or influence this content. See our Editorial Policy, Corrections, Affiliate Disclosure, and Disclaimer.
What does it take to open an account? See Interactive Advisors’s minimum investment, straight from its own Form ADV Part 2A brochure.
Comparing firms? See all 182 advisor firm reviews in one table, with each firm’s type and its fee on a $500,000 account.