Robo-advisors have become extremely popular in the investment management sphere. This list of robo-advisors includes an introduction to the 35 top digital investment services. Also, you’ll find quite a bit of differentiation within the list of robo-advisors.
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You might wonder why you need a robo-advisor. Here are the practical reasons for using a robo-advisory service for your investment management:
- You’re busy and you want your money professionally managed.
- You’re drawn to the promise of sophisticated investment management services for a low fee.
- You want to invest for a secure financial future and you need guidance.
Robo-advisors perform many of the same services as financial advisors, albeit at a lower cost. Popular robo-advisory services include:
- Portfolio rebalancing
- Asset allocation
- Tax-loss harvesting
- Automated deposits
- Specialty investment tracking and reporting
- Goal-based investing
Also, robo-advisors aren’t subject to the personal biases of a financial advisor and most computerized systems are based on well-regarded investment theory. In fact, several robo-advisors, such as Personal Capital, also offer access to human advisors.
How Many Robo-Advisors are There?
There are 100’s of robo-advisors. In addition to the U.S. and international robo-advisors, many financial advisors offer their own “robo-advisor” to their clients as a part of their services.
First figure out what you are seeking in an investment manager? Free services, tax-loss harvesting, financial advisors, many investments – the list goes on. Next, narrow down your choice and read reviews before making a decision.
Which Robo-Advisor has the Best Returns?
There are many articles discussing robo-advisor returns. But, although performance information makes for interesting reading, returns will vary depending upon your investment mix and which sectors are popular – so we don’t recommend picking a robo-advisor based upon returns.
Are Robo-Advisors Worth It?
This list of robo-advisors shows that the field is exploding with choices and options. So, with the preponderance of digital financial advisors, a robo-advisor meant to simplify your life can turn out to complicate it, if you’re spending hours trying to choose the correct service.
We believe that robo-advisors are worth it if you’re looking for solid investment management with reasonable fees – tailored to your goals and preferences.
To simplify your quest for a robo-advisor in addition to this robo-advisor directory we provide comparisons, reviews and current information. Today, you’ll get a list of robo-advisors including the most prominent digital advisors and a few robo-advisor apps. (Although, with the field growing so quickly, it’s certain that they’ll be more robo-advisors popping up soon.)
List of Top Robo-Advisors
1. Acorns makes investing easy by helping you find money (read: the spare change left over from your daily purchases). This money—no matter how little—is invested in your portfolio. In 2016, Acorns stock investments came in 2nd in a robo-advisor comparison analysis.
2. Ally Invest Managed Portfolios is the digital investing robo-advisor that joins Ally’s online banking and do-it-yourself investment platform. Allly enables wide ranging investment options. They also offer zero commissions for stock, ETF and option trades.
3. AssetBuilder robo-advisor customizes youir investment portfolio to your family’s circumstance, your financial goals, your investment horizon and your risk tolerance. Their algorithm incorporates diversification, smart indexing and smart asset allocation to fit your reality. They invest in well-regarded DFA funds (available only to financial advisors).
4. Axos Invest (formerly WiseBanyan) offers sound financial management regardless of the amount of money that you have. The basic Axos robo-advisor is free. Add on features such as tax-loss harvesting and specialized investments come with a small charge. The company asks investors to pay only for the services they desire. Axos Invest is part of Axos Financial.
5. Betterment is one of the legacy robo-advisors. They use a goal-based approach with the opportunity to set up multiple goals. Their retirement guide feature is a superb planning tool. Betterment offers socially responsible, smart beta and income portfolios as well. Larger accounts also have access to financial advisors. Visit Betterment now.
6. Blooom is unique in the robo-advisory sphere. They manage your retirement 401(k), 403(b) or TSP moneys within the existing account. No need to transfer the funds. The firm is laser focused on helping you build the best retirement nest egg possible by supervising the and adjusting investments within your 401(k) or other workplace retirement account. Visit Blooom now for a free retirement check up.
Choose the best robo-advisor for you with the Robo-Advisor Selection Wizard.
7. BuildingBenjamins is the robo-advisor arm of Tradition Capital Management. BuildingBenjamins adopts both strategic and tactical asset allocation using a wide swath of asset classes in their attempt to beat the market. A key feature of BuildingBenjamins is their use of alternative asset classes beyond U.S. and international stock and bond funds including; reinsurance, commodities, alternative lending and others.
8. Chase You Invest – by JP Morgan – JP Morgan Chase’s foray into the robo-advisor market includes a basic robo-advisor based upon your risk level and goals. We like the You Invest two-step calculator that asks you to select the risk tolerance you feel most comfortable with and then determines whether this risk tolerance is best suited to your financial timeline, goals, and deposits.
9. Ellevest is one of a handful of robo-advisors designed with women in mind. This robo-advisor invests in up to 21 asset classes and includes several unique funds such as an international real estate and a municipal bond fund. You can also view your Ellevest account through Mint.com. Ellevest also offers a access to financial planners and career counselors for discounted fees. Visit Ellevest now.
10. Elm Partners is a robo-advisor for high net worth and mass affluent investors seeking superb investment management for a rock-bottom .12% AUM fee. Their investment strategy is grounded in financial research and marries value investing with momentum strategies.
11. E*Trade Adaptive Portfolio is another low fee-robo advisor offered by a major brokerage company. This makes it easy to call an investment advisor rep for help. You can opt for a typical diversified investment portfolio comprised of ETFs or one of the E*Trade specialty portfolios like a bond portfolio or actively managed account.
12. Evisor is a new robo-advisor founded by insitutional portfolio manager, Jim Dowd, of North Capital Investment Management. This robo’s goal is to provide institutional-grade planning, advisory services and investment management to individual investors.
13. Fidelity Go is another robo-advisor born to a discount brokerage firm. In addition to the diversified investment portfolios, Fidelity has a unique option that allows you to set up a short-term investment portfolio. The automated target tracking enables you to choose a dollar amount you’re trying to reach by a certain date.
14. Financial Guard robo-advisor manages your investments while they remain in their existing accounts. The firm helps with allocation, fund selection and financial education. Unlike most robo-advisor competitors, they charge an annual flat fee, regardless of the value of your account.
15. FutureAdvisor manages your investment accounts, where they currently reside (you don’t need to transfer them to FutureAdvisor). They offer rebalancing, tax-loss harvesting and the ability to manage multiple accounts.
16. M1 Finance is a unique free robo-advisor that combines DIY investing with robo-advisory features. You create your own investment portfolio composed of any mixture of stocks, bonds and/or funds. Or, if you prefer, you might select a pre-made M1 Finance portfolio. They even offer several hedge-fund replica portfolios. Then M1 Finance regularly rebalances your portfolio back to its original allocation. Visit M1 Finance now.
17. Merrill Edge Guided Investing is the robo-advisor arm of the Bank of America/ Merrill Lynch family. In addition to the typical passive index fund investment portfolios, Merrill also offers active management, in an attempt to outperform the market returns and circumvent downturns.
18. Sogo MarketRiders is one of the first robo-advisors and offers two services; a low fee subscription web-based investing software program and an investment management service. MarketRiders subscription model guides your investing and rebalancing activities while the management service does it for you.
19. Personal Capital is a top performing robo-advisor with a must-have free portfolio management software (after quick sign up) with an abundance of free investment planning tools. Their unique sector-based asset allocation is research-based. And, for customers using the paid service, a dedicated financial advisor is included.
20. Rebalance 360 IRA customizes your retirement account funds residing in Schwab and Fidelity. They construct and rebalance when necessary a diversified portfolio of passive index funds. Additionally, Rebalance IRA pairs each client with an experienced investment advisor.
21. Schwab Intelligent Portfolios is the robo-advisor division of this well-known discount brokerage firm. It was also the best performing robo-advisor of 2017. With zero fees, access to 50 exchange traded funds and goals based investing, you can also ask basic questions at your local Schwab branch office.
22. SigFig is another winner in the best performing robo-advisors race. SigFig doesn’t require you to transfer your investment assets but manages them for you while remaining in your Schwab, Fidelity, and TD Ameritrade accounts. SigFig also offers a free portfolio tracker, first $10,000 managed for free and financial advisor access.
23. SoFi Invest is a free robo-advisor that is part of the SoFi lending platform. Unlike other robo-advisors, The SoFi Invest offers clients easy access to stock and cryptocurrency investing as well. SoFi Invest provides financial advisor’s for money related questions. Visit SoFi Invest now.
Overwhelmed with choice? Use our Robo-Advisor Selection Wizard to find the best digital investment manager for you!
24. Stash App is a robo-advisor for newbies. With as little as $5 you can start investing in either a traditional brokerage account or a Roth IRA retirement account. After completing your risk questions, you can choose your own investments from the 30 available ETFs. Unlike most other robo’s you choose your own investments in line with your values. Stash was listed on the best robo-advisor returns YTD, 2020.
25. Sustainfolio is a robo-advisor for the socially conscious. This digital advisor caters only to sustainable investors and offers only SRI (socially responsible investment) stock and bond funds. A free annual investment check up is included annually.
26. TIAA Personal Portfolios offers both passive and actively managed investment strategies. TIAA won several best robo-advisor performance categories in 2019. They also offer financial advisor access for a low 0.30% investment management fee.
27. Titan Invest App is a robo-advisor that’s designed to help the little guy or gal invest like a big-time hedge fund manager. The app strives to mirror the best hedge fund stock picks and outperform the market returns. Visit Titan now.
28. TD Ameritrade Essential Portfolios is an “an automated, low-cost investing solution that uses advanced technology to help you pursue your financial goals”. This goals-based robo-advisor uses Morningstar-recommended ETFs, grouped into goal-related categories. They offer solutions for the conservative to more aggressive investor. Their low $5,000 minimum and 0.30% fee make this a competitive automated-investing solution.
29. Twine is an app based robo-advisor targeting newbie-investors. In partnership with legacy John Hancock’s management team investors portfolio’s include basic, low-fee diversified stock and bond ETFs and cash (no management fee is charged for cash). They offer ‘investing with a partner’ option and basic educational resources as well.
30. United Income was founded, with backing from Morningstar and eBay founder, Pierre Omidyar, specifically for retirees, age 50 to 70. United Income uses the most sophisticated investment management available. The company makes use of evidence-based investing, and factor-based investment strategies, targeting securities with traits that have historically enjoyed higher returns, lower risk or a combination of both. Factors include quality, value, momentum, size and low volatility. They also offer a wealth of “retiree-based” services like Social Security planning.
31. Vanguard Personal Adviser Services uses predominantly Vanguard funds in their hybrid human/automated investing solution. Their $50,000 account minimum makes this service best for investors with some capital under their belts. The low fee of 0.30% of AUM is competitive for a digital plus human advisor investment management platform.
32. Validea Legends Advisor is not your typical passive index fund investment advisor. Validea interprets the investment strategies of well-known stock market investors and replicates them for you with ETFs and stocks. The firm actively manages the fund with a focus is on outperforming the market over the long-term.
33. Wealthfront is innovating rapidly with their new Path digital financial advisor. Unlike other online investment advisors, Path drills deeply into the type of questions a human advisor might ask – your goals, investment approach, tax status, salary and more. In addition to the typical diversified robo-advisory portfolio, Wealthfront offers a variety of other specialty services, all for a low 0.25% AUM fee. Visit Wealthfront now.
34. Wealthsimple is a Canadian robo-advisor that recently expanded into the US and UK. There’s a lot to like about this digital advisor with no investment minimum, socially responsible and Halal portfolios. For a 0.50% of AUM management fee, you have financial advisor access.
35. Zacks Advantage is an actively-managed automated investment advisory service for wealthier investors. The Zacks Advantage robo-advisor is operated on the principle that the most important fundamental factor affecting stock prices is earnings. The portfolios are actively managed based upon Zacks well-regarded research and requires a $25,000 minimum investment amount.
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