Direct indexing, once an exclusive investment strategy reserved for high-net-worth individuals, is now experiencing rapid democratization thanks to technological advancements. This includes the widespread integration of fractional share ownership and automated tax-loss harvesting. These innovations empower individual investors to construct highly customized portfolios that track major market indices, providing sophisticated levels of portfolio control and tax efficiency at a substantially lower cost than traditional investment vehicles. As a result, a growing number of financial platforms offer direct indexing solutions with competitive fees and low minimum entry requirements. Here are the best and lowest direct indexing sites available:
Public.com
Public.com is the best overall low-cost indexing platform, which has quickly become a leader in making direct indexing easily accessible to everyday investors. With a $1000 minimum investment and a 0.19% annual management fee, Public.com is one of the lowest direct indexing platforms in the market today. Instead of investing in a mutual fund or ETF, the investors can own actual stocks that make up the index, and all of it can be done in a hassle-free manner at Public.com. Investors can choose over 100 indices, apply personalized filters, and take advantage of tax-loss harvesting. This critical factor was, for a long period of time, only reserved for high-net-worth individuals. Its user-friendly interface and its transparency are what make Public.com stand out in this list. There are no hidden trading commissions or extra advisory costs, which makes Public.com ideal for investors who want professional-grade tools at an affordable price. For investors seeking the most affordable and straightforward way to start direct indexing, Public.com is a must-consider option.
Altruist
Altruist is best known for providing direct indexing opportunities to investors at very low minimums. It is also redefining how financial advisors deliver direct indexing to clients. Though Altruist is not a retail platform, it powers direct indexing through advisor networks and custodial services with a minimum investment that varies advisor to advisor and often starts around $2000. Moreover, the fees can also be negotiated but usually stays in between 0.25% to 0.35%. The platform is designed to make direct indexing accessible to clients of registered investment advisors (RIAs) seeking tax-efficient, customizable portfolios without the high account thresholds. Advisors can automatically rebalance accounts and apply personalized strategies as Altruist integrates portfolio management and trading technology, which is a huge advantage for clients who want efficient, long-term wealth growth without burning a hole in their pocket.
Wealthfront
Wealthfront is one of the best low-cost direct indexing providers in 2025, particularly for investors targeting the S&P 500 with its automated direct indexing services. Wealthfront’s S&P 500 Direct Indexing has made direct indexing available for the masses, where with just $5000, the investor can replicate the S&P 500 while owning each underlying stock directly, which thereby enables fine-tuned portfolio control and effective tax-loss harvesting. For investors with large account balances of $100,000 or more, Wealthfront offers U.S. Direct Indexing, which surpasses S&P 500 Direct Indexing by providing exposure to the entire U.S. stock market. This is achieved by investing in up to 600 of the largest U.S. individual stocks, alongside ETFs that represent smaller companies. With Wealthfront, investors get institutional-grade tax management and diversification without the hassle of manually selecting or monitoring their investments. Wealthfront is ideal for investors seeking to build long-term wealth, thanks to its simplicity and automation.
Envestnet
Envestnet offers direct indexing as a part of its investment services to its high-net-worth clients through its ‘Quantitative Portfolios’ program. This is made possible for Envestnet through platforms like Ethic and Franklin Templeton’s Canvas, which takes direct indexing to the next level with deep customization, ESG integration, and advisor-driven portfolio construction. While not part of Envestnet, Ethic and Canvas are accessible on the Envestnet platform through partnerships, offering their services to users of Envestnet’s wealth management technology. While their minimums are at the higher end, usually starting at $100,000, Envestnet provides unmatched flexibility in designing portfolios aligned with personal values and tax strategies. Canvas allows investors to build customized direct indexing portfolios based on each of their clients’ preferences, such as excluding specific sectors and overweighing certain companies. On the other hand, Ethic focuses heavily on sustainability, offering direct indexing solutions that are aligned with the investor’s social and environmental priorities. Though Envestnet is not the lowest in this list in terms of fees as it charges 0.25% – 0.40% annually, that varies advisor to advisor, it still remains competitively priced for the level of personalization it offers, making it a good choice for high-net-worth individuals and socially conscious investors.
How to choose the lowest-cost direct indexing site?
Before choosing a platform for direct indexing, investors must consider the following factors:
- Investment minimums: For investors, Public.com and Altruist are the best options when it comes to investment minimums.
- Fees vs Tax benefits: A low annual fee is the first thing that catches an investor’s attention, but tax-loss harvesting can often deliver greater net savings. Platforms like Public.com and Wealthfront automate this feature to make the lives of retail investors easier.
- DIY vs Advisor Support: If an investor wants to be their own boss, then platforms like Public.com, Fidelity, and Wealthfront are their best friends because of their outstanding user-friendly interfaces. On the other hand, if an investor wants the help of an advisor, Altruist and Envestnet make professional-grade direct indexing affordable.
Ultimately, the lowest direct indexing site depends on the investor’s balance, financial and personal goals, and level of involvement. Direct indexing is no longer exclusive to the wealthy, as platforms like Public.com and Fidelity have democratized the strategy by lowering their fees and minimums. Whether an investor has $1000 or $100,000, they have a plethora of options to choose from. An ideal choice would be a direct indexing solution and platform that fits their financial plan and investment style.
