Robo-Advisors DACH 2026 — 10 providers compared

Scored against our publicly documented methodology.

Robo-advisors have moved from the 2014 vintage of asset-management start-ups to an established management category across the German-speaking region. According to estimates from the Boston Consulting Group, assets under management in the three countries stood at roughly EUR 28 billion in mid-2026 — driven by the continued growth of digital wealth managers in Germany and by the strong position of Swiss providers in the premium segment. For Austrian investors, the choice in 2026 is narrower than the headline implies: several German firms are available directly through the EU passporting regime, while Swiss houses accept EU clients only on a limited basis.

The most consequential shift in 2026 is not technological but monetary. With the European Central Bank's 5 June 2026 rate cut to 2.25%, the advantage of overnight deposits over long-duration ETF portfolios has narrowed again. Investors who have been sitting in cash, waiting for a better entry, now face the structural argument every robo-advisor has always carried: automated, rules-based investing in a broadly diversified ETF portfolio.

We reviewed ten robo-advisors relevant to DACH investors. The assessment covers minimum investment, ongoing management fee, strategy (passive versus part-active), degree of portfolio personalisation, tax service for Austrian and German investors, and supervisory framework (BaFin, FMA or FINMA). Where three-year performance figures for 2023 to 2026 were publicly available, they are included as an orientation — with the explicit caveat that past returns offer no guidance about future ones.

Overview: ten providers compared

| # | Provider | Base | Minimum | Management p.a. | Strategy | Supervisor | 3y return, mid-risk portfolio* | |----|----------------------|------|------------------|-----------------|----------------------|------------|--------------------------------| | 1 | Scalable Wealth | DE | EUR 10,000 | 0.75% | Passive ETF | BaFin | ~ +6.9% p.a. | | 2 | Quirion | DE | EUR 500 | 0.48% | Passive ETF | BaFin | ~ +7.1% p.a. | | 3 | Solidvest | DE | EUR 100,000 | 1.15% | Active single names | BaFin | ~ +5.8% p.a. | | 4 | Whitebox | DE | EUR 5,000 | 0.95% | Passive + value tilt | BaFin | ~ +6.2% p.a. | | 5 | Visualvest | DE | EUR 25 | 0.60% | Passive ETF | BaFin | ~ +6.7% p.a. | | 6 | Liqid | DE | EUR 100,000 | 0.90% | Multi-asset, HNW | BaFin | ~ +6.4% p.a. | | 7 | Selma Finance | CH | CHF 5,000 | 0.68% | Passive ETF | FINMA | ~ +7.0% p.a. | | 8 | True Wealth | CH | CHF 8,500 | 0.50% | Passive ETF | FINMA | ~ +7.3% p.a. | | 9 | Investify | LU/AT| EUR 1,000 | 0.79% | Theme + core | CSSF/FMA | ~ +6.1% p.a. | | 10 | finvesto Robo | DE | EUR 1,000 | 0.90% | Passive ETF | BaFin | ~ +6.5% p.a. |

*Estimated three-year performance of each provider's mid-risk allocation (comparable to a 60/40 portfolio), net of fees, for the period 1 June 2023 to 1 June 2026. Figures rely on public provider reports and rounded market data; no warranty as to completeness.

1. Scalable Capital Wealth

Scalable Capital is best known in DACH as a neobroker. Its wealth-management arm Scalable Wealth sits alongside the brokerage business as a separately regulated investment manager. Investors pay 0.75% per year on assets, on top of the underlying TER of the ETFs deployed (typically 0.15% to 0.25%). The portfolio is built exclusively from passive, UCITS-compliant ETFs across equities and fixed income.

The EUR 10,000 minimum deliberately separates the wealth product from the firm's retail brokerage strategy. Personalisation is delivered through a standardised risk questionnaire and six pre-defined risk classes. On tax, Austrian investors do not benefit from integrated KESt withholding: Scalable supports only German Abgeltungsteuer, so an Austrian client has to process the annual report independently via the E1kv tax filing.

Best suited to: DACH investors with at least a five-figure starting balance who want a lean, low-cost passive portfolio without room for active single-line positions.

2. Quirion

Quirion is a subsidiary of Berlin-based Quirin Privatbank and one of the pioneers of digital wealth management in Germany. At 0.48% per year for the entry tier, it ranks among the cheapest BaFin-regulated robo-advisors in the market. The EUR 500 minimum opens the service to entry-level savers, and recurring contributions are possible from EUR 30 a month.

The portfolio is purely passive: Quirion uses ETFs from iShares, Xtrackers and Vanguard, weighted according to an academically grounded asset-allocation logic (broadly aligned with the work of Markowitz and Fama-French). Paid "Silver" and "Gold" tiers unlock sustainability options and individual advisory conversations.

Quirion delivers German clients a full annual tax statement with Abgeltungsteuer withholding included. For Austrian investors the platform is legally accessible via EU passporting, but the report — as with Scalable — needs to be converted for KESt filing in Austria.

Best suited to: price-sensitive entry-level and mid-size savers across DACH who want a fully automated passive portfolio at the lowest available fee.

3. Solidvest

Solidvest is an outlier in this comparison. The brand, owned by Pullach-based DJE Kapital AG, runs actively managed mandates with single stocks and bonds — no ETF wrapper, but direct security selection by the DJE research team. The minimum is EUR 100,000 and the management fee is 1.15% per year plus custody charges.

The proposition targets affluent retail clients who want digital wealth management combined with classical active stock-picking. Publicly communicated performance numbers run below the passive benchmarks of peers, which is the structurally expected outcome for active mandates. Solidvest argues for lower drawdown sensitivity during corrections; over three years that claim is only partly supported by the available data.

Best suited to: affluent DACH investors with EUR 100,000 or more who specifically want active management with single-name selection rather than an ETF wrapper.

4. Whitebox

Whitebox, based in Weil am Rhein, runs a passive core combined with a systematic value tilt: the portfolio overweights cheaply valued segments relative to the market-capitalisation index. The minimum is EUR 5,000 and the total cost ratio is 0.95% per year, inclusive of underlying ETF TER.

Unlike most competitors, Whitebox rebalances at threshold breaches rather than on fixed calendar dates. That reduces the number of realised gains and, in turn, the tax drag — an effect that is most visible during strongly rising markets. Whitebox publishes three-year returns openly on its performance page; the mid-risk allocation came in at roughly 6.2% per year net of fees for the 2023 to 2026 window, according to the firm.

Best suited to: German investors with a five-figure starting balance who value a passive core with a moderate value tilt and tax-optimised rebalancing.

5. Visualvest

Visualvest is a subsidiary of Union Investment and therefore firmly embedded in the German cooperative banking group. With a EUR 25 minimum and a 0.60% total fee, it ranks among the lowest-barrier options in the German market. Recurring contributions are available from EUR 25 a month, and clients can choose between seven risk classes plus a sustainability variant.

The strategy is purely passive. The portfolio uses ETFs alongside some actively managed Union Investment funds — a feature that has drawn criticism from observers pointing to the conflict of interest between the platform and the fund issuer. The tax service is fully integrated for German clients.

Visualvest is legally accessible from Austria, but the platform is not tailored to the Austrian market: the tax report has to be filed independently.

Best suited to: German savers using a recurring-contribution strategy who value a very low entry point and a well-known brand.

6. Liqid

Liqid positions itself clearly in the high-net-worth segment and works with the family office of the Quandt family as its investment partner. The minimum is EUR 100,000 and the management fee is 0.90% per year. The portfolio combines ETFs, selected active funds and — at higher tiers — private-equity and private-debt allocations.

The differentiation versus mass-market robo-advisors lies in access to institutional asset classes that retail investors typically reach only through family offices. Liqid communicates performance to existing clients via quarterly reports; publicly available aggregate figures suggest the mid-risk allocation delivered approximately 6.4% per year net of fees over the 2023 to 2026 window.

Best suited to: affluent DACH investors with six-figure balances who want digital wealth management with access to private-markets building blocks.

7. Selma Finance

Selma is a Swiss robo-advisor based in Zurich, FINMA-regulated, with a clear focus on conversational onboarding ("Selma, your digital investor"). The minimum is CHF 5,000 and the management fee is 0.68% per year, plus roughly 0.20% in underlying ETF costs. The portfolio is purely passive and relies primarily on iShares and UBS ETFs.

Selma generally accepts only Swiss residents; EU investors are not approved through the standard onboarding flow. For DACH investors the platform is therefore relevant primarily to Swiss retail clients, or to German and Austrian professionals resident in Switzerland.

Best suited to: Swiss retail investors who want a digital wealth manager with a personal, conversational onboarding experience.

8. True Wealth

At 0.50% per year, True Wealth is the cheapest FINMA-regulated robo-advisor in Switzerland. The minimum is CHF 8,500 and the portfolio consists of passive ETFs. The Zurich firm deliberately avoids premium tiers and publishes its investment methodology in a publicly accessible document.

Like Selma, True Wealth is not open to EU investors and addresses clients with Swiss residency. The historical three-year performance of the mid-risk allocation came in at around 7.3% per year net, according to provider reports — the highest figure in the comparison, supported by the structurally low fee level.

Best suited to: Swiss retail investors looking for a particularly cost-efficient passive robo-advisor.

9. Investify

Investify is a Luxembourg-based provider regulated additionally by the Austrian FMA through a local subsidiary — making it one of the very few robo-advisors with a genuine Austrian tax service. The minimum is EUR 1,000 and the management fee is 0.79% per year. Investify pairs a core portfolio of classical ETFs with optional thematic building blocks (water, robotics, demographics).

For Austrian investors, Investify is the most straightforward option, because KESt withholding is handled directly by the provider. The annual report is compatible with the E1kv filing and does not require self-assessment. That tax integration has a price: at 0.79% the fee is above Quirion or Scalable, but it removes the burden of independently reconciling gains and losses.

Best suited to: Austrian investors who want a fully integrated KESt service without self-assessment and are willing to pay a moderate fee premium for that convenience.

10. finvesto Robo

finvesto is the digital subsidiary of ebase (FNZ Bank, Munich), specialised in recurring-contribution strategies. The robo-advisor product has been live since 2022 as a pure passive offering, with a EUR 1,000 minimum and a 0.90% management fee. The portfolio uses ETFs across five risk classes; ETF savings plans are available from EUR 10 a month.

finvesto's strength lies in its savings-plan logic: frequency, amount and allocation can be adjusted granularly, with changes taking effect from the next execution date. The tax service is complete for German clients; Austrian clients need to file independently.

Best suited to: German savings-plan investors who want a lean robo logic combined with the established ebase infrastructure.

How we score

The ten providers were selected against four criteria: supervision by BaFin, FMA or FINMA; effective accessibility to DACH investors; a minimum below EUR 100,000 or a clearly communicated premium positioning; and a publicly verifiable fee structure. We did not include pure insurance or advisory products lacking a wealth-management licence, nor providers addressing institutional clients only.

Three-year returns were drawn, where possible, from the providers' own performance reports for the mid-risk allocation. Where no official publication was available, estimates rely on comparable 60/40 ETF portfolios. Returns are quoted net of management and ETF fees, before taxes.

Frequently asked questions

When is a robo-advisor worth it versus an ETF savings plan at a broker?

Investors building positions in a single world ETF (such as the MSCI World or FTSE All-World) are structurally better off with a classical broker savings plan: the 0.5% to 1% annual management fee falls away. A robo-advisor begins to pay off as soon as automated rebalancing across multiple asset classes, dynamic risk-profile adjustment and an integrated tax service add value — typically from a portfolio of EUR 25,000 or more, or for investors who would rather not manage allocation themselves.

Which supervisor matters for German and Austrian investors?

German investors fall under the BaFin regime, Austrian investors under the FMA. Both supervisors operate within the common EU framework (MiFID II), so German providers can serve Austrian clients via EU passporting and vice versa. Swiss FINMA supervision sits outside that EU framework; FINMA-regulated providers are typically not directly accessible to EU clients.

What is the Austrian capital-gains tax on robo-advisor returns?

Returns from Austrian wealth management are subject to Kapitalertragsteuer (KESt) at 27.5%. Where the provider — like Investify — is FMA-regulated and offers an integrated tax service, the KESt is withheld at source. With German providers that do not offer an Austrian tax service (Scalable, Quirion, Whitebox and others), the Austrian client has to declare the returns independently via the E1kv annex of the income-tax return.

What does the 5 June 2026 ECB rate cut mean for robo-advisor savers?

With the policy rate now lower, the relative advantage of overnight deposits over long-duration equity-bond portfolios has narrowed. Investors holding a large cash position who benefited over the past eighteen months from deposit rates of 3% to 4% now need to rotate further into risk assets to achieve comparable real returns. Robo-advisors with automated rebalancing accommodate this shift mechanically — provided the chosen risk profile actually matches the investor's real tolerance.

Are active robo-advisors (such as Solidvest) better than passive ones over the long run?

The empirical evidence continues to argue against the structural superiority of active mandates relative to broadly diversified passive portfolios. S&P Dow Jones Indices (SPIVA) studies show that over ten-year horizons in DACH, more than 80% of actively managed equity funds miss their benchmark net of costs. Active robo-advisors can outperform during specific correction phases, but typically give that advantage back over full market cycles.

How safe are client assets at a robo-advisor?

Robo-advisors hold client assets legally segregated at a custodian bank (such as Baader Bank, DAB BNP Paribas or ebase). In the event of the robo-advisor's own insolvency, the securities are therefore not part of the insolvency estate — they remain the property of the investor. In addition, the German deposit-protection scheme covers cash balances up to EUR 100,000 per client and bank; Einlagensicherung AUSTRIA provides the same coverage in Austria. Swiss FINMA supervision guarantees depositor protection up to CHF 100,000 via esisuisse.

Which robo-advisor fits which investor profile?

For Austrian investors who want integrated KESt processing: Investify. For German entry-level investors with a small starting balance and the lowest possible fee: Quirion or Visualvest. For DACH investors with a five-figure starting balance and a preference for a classical passive portfolio: Scalable Wealth or Whitebox. For affluent investors seeking exposure to private markets: Liqid. For active stock-picking instead of an ETF wrapper: Solidvest. For Swiss retail clients: True Wealth (low-cost) or Selma (conversational).