Good review of this service here:
My personal take: OK for what it is but limited investment choices, too much in cash and I'm allergic to paying ANY percentage of assets under management - especially in this low-return environment. Love Schwab though - have most of our investments with them - but if I needed a financial advisor I'd hire someone like Evanson Asset Management or FPL that works on a fixed fee rather than AUM basis.
At the end of the day the problem with Schwab and Fido vs. Vanguard is structural: unlike Vanguard which is a truly mutual mutual fund company that is owned by its funds the other guys have a parent company they have to make money for, meaning their interests can never be fully aligned with their clients. Schwab makes most of its money on cash held in MM accounts so the excessive cash holdings in their robo service are just part and parcel of the way they do business. Love their customer service and worldwide ATM fee reimbursement from Schwab Bank is great for travel. Combine that with a self-managed portfolio of mostly Vanguard ETF's held there and you're golden.