As seen in
How to Compare the Best Robo-Advisors
Find the best robo-advisor by comparing with Financer.com
Compare management fees for various robo advisors.
Some robo-advisors require account minimums.
Click Get Started to sign up.
What Are Robo Advisors?
Robo advisors are digital platforms that offer algorithm-driven, automated investment and financial planning services with almost no human intervention.
A robo-advisor collects information about a client's financial information and goals and then uses the data to make automated investments and offer financial advice.
Using some of the top robo advisors will give you an inexpensive way of getting started with investing and have everything managed for you.
Benefits of Investing with Robo-Advisors
What is Automated Investing?
An automated investor is a robo-advisor that combines computer algorithms with investing expertise to automatically manage your investment accounts.
Automated investing is a great way to get individualized financial planning or retirement advice, with low fees, lower minimum balances, and a more hands-off approach being among the benefits.
An automated investor is also known as a robo-advisor and automated investing can be the best option for investors just beginning their wealth-building journey because it requires little to no direct human interaction.
For new investors, automated investing may make the learning curve shorter, enabling them to begin creating and maintaining a portfolio to meet their financial goals.
Some of the best robo-advisors include:
In recent years, the number of robo-advisors and the kind of services they offer, increased.
These days, a lot of robo-advisors provide socially conscious investment portfolios, like SoFi, as well as access to human financial advisors for straightforward answers about investments and financial planning.
Automated investors also offer extensive digital financial planning tools.
Bottom line: Every sort of investor can now choose from a variety of low-cost robo-advisor options.
Benefits of Robo-Advisors
Easy Access
You only need an internet connection to access a robo-advisor. Most robo-advisors are designed to be straightforward and easy to use.
But what makes them more accessible than the average human wealth management advisor is the lower fee.
This gives robo-advisors the potential to make wealth more accessible to people all over the world.
No Human Bias
One of the drawbacks of taking human advice is the possibility of a bias. Even the most competent advisor can be blinded by their own unconscious bias towards an asset class or their evaluation method when assessing risk.
An AI-based robo-advisor, on the other hand, uses a mathematical algorithm to assess the investor. This makes it impartial and free of bias.
However, do keep in mind that free advisors, whether human or robo, who earn revenue through product manufacturers, may not be completely free of bias.
Comprehensive Services
Modern robo-advisors have a range of services that can manage your entire financial planning.
This can include services such as retirement planning, tax strategies, and rebalancing the portfolio.
A robo-advisor can manage your portfolio and ensure you reach your investment goals.
Tracking Your Investment Priorities
A robo-advisor builds your investment goals based on your profile. In the process, it can reveal financial priorities or responsibilities that may not be immediately obvious when you are in pursuit of different goals.
Once you set up a robo-advisor account, it will keep nudging you to make responsible decisions that may not seem important right now but may be critical in the future.
For instance, long-term goals like retirement planning or priorities like life insurance are often ignored by young investors.
Is a Robo-Advisor the Right Choice for You?
This all depends on your own preference and investment goals.
A human wealth advisor may be the best option if you need validation or a personal discussion before making an investment. However, if you want ease of transaction and ready access, a robo-advisor is the way to go.
With the average fee falling between 10 bps and 50 bps, even the paid robos offer extremely reasonably-priced services.
Given the comprehensive range of services, such as investment tracking, robos are indeed well worth this price.
Why Compare Robo-Advisors At Financer.com?
What Customers Say About Us
4.60 based on 324 reviews
from Reviews.io
Heather B
It was super easy to deal with them. The comparison service was just amazing.
Karen S
A quick, efficient, and certainly hassle-free service. Their comparison tools were best that helped me find the perfect loan provider service online with great ease. Thumbs up.
Zoe N
I got invaluable financial pieces of advice, free from any complicated terms & conditions. It was great!!
Dana R
This is the most trustworthy site if you are looking for honest reviews, straightforward ratings and real-life opinions on financial products. I enjoyed a great experience, now it's your turn!
Steve A
I had an amazing experience dealing with them! The comparison tools have worked great for me in finding the right lender.
Mary D
One of the legit lenders suggesting service I have ever come across. Highly recommended!
Compare Robo-Advisors with Financer.com
Looking for the best robo-advisors for automated investments? Financer.com helps you compare investment plans so you can choose the best investments for your portfolio.
When it comes to investment planning, we are always improving our comparisons, and we are confident in what we can bring to the market.
Use our free robo-advisor comparison to find the right type of investment for your needs. At Financer.com we take the guesswork out finding the best investments in 2022.
Got Questions About Robo-Advisors? Get the Answers Here.
What does a robo-advisor cost?
- Management fees. These fees are usually around 0.25% to 0.5% of your assets on an annual basis. So for example, for every $10,000 invested, the management fees would be $25 to $50 per year.
- The funds' expense ratios. Your funds will be invested in various funds that also charge fees based on the value of your assets. These fees usually range between 0.05% to 0.65%, or around $5 to $65 annually, for every $10,000 invested.
Is a robo-advisor a good choice?
- Want your money to be managed professionally.
- Are looking to start investing safely and slowly.
- Want a lower-cost alternative to a human.
- Don't understand the markets and want to learn.
- Want to deposit and have everything managed for you.
What are the best robo advisors?
What is a robo advisor?
Which robo advisor has the best returns?
- Acorns: 3.49%
- Ally Financial: 3.22%
- Axos Invest: 4.38%
- Betterment: 1.80%
- Ellevest: 2.90%
- Fidelity Go: 3.88%
- FutureAdvisor: 3.34%
- Personal Capital: 1.72%
- SoFi: 4.03%
Is the SoFi robo advisor legit?
Read More About Investing
Diversify Wisely: Explore Alternative Investments with EXANTE
Quick Take Spreading risk across various asset classes, industries, and geographic areas, helps you mitigate the impact of a downturn in any single investment. Alternative investments provide
January 17, 2024 10 min read
