Vanguard Personal Advisor Services

So-called robo-advisors—algorithms that pick investments based on your financial goals and risk tolerance—are all the rage, providing new competition for traditional (that is, human) financial planners.

Fund giant Vanguard has steered a middle path. Its Personal Advisor Services—open to investors with $50,000—pairs computer-driven investing with an advisor you talk to over the phone. It grew into a juggernaut in 2016, reaching $46 billion in assets under management. It’s not hard to see why. At 0.3% of assets per year, fees are competitive with fully automated options.

“Now someone with less than $100,000 can get the advice someone with millions would have gotten in the past,” says financial blogger and money manager Wesley Gray.