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Best Robo-Advisors 2022: Automated Investing

We compare the best robo-advisors in 2022. Find an automated investment tool that works for you. With Financer.com you can:

  • Compare the best robo-advisors
  • Learn about automated investments
  • Grow your investment portfolio
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Our Top Robo-Advisors for October 2022

Chosen 14549 times
  • Fixed 6.99-22.23% APR for personal loans
  • Federal and private student loan consolidations
  • Personal loans up to $100k
  • Loan repayments up to 20 years
Chosen 87 times
  • Management fee: 0.25% – 0.4%, depending on service level
  • $0 account minimum
  • ETFs from 14 asset classes
  • Digital and Premium plans available
Chosen 65 times
  • Among the lowest cost robo-advisors
  • Choose ETFs that represent over 30 asset classes
  • Account minimum of $500
  • Tax-loss harvesting
Chosen 196 times
  • 401(k) management
  • No account management fee
  • Free analysis
  • Access to account advisors
Chosen 89 times
  • Flexible, customizable, and automated
  • $0 commissions and no management fee
  • $100 account minimum
  • 0.06%–0.20% fund expense ratio
Chosen 147 times
  • Account minimum: $100,000
  • Free money management tools
  • Work with a financial advisor to customize goals
  • User friendly, easy to navigate website
Chosen 111 times
  • Get investment accounts in under 5 minutes
  • Bank-level security, 256-bit encryption, and two-factor authentication
  • Debit card with free ATM withdrawals
  • Investment account with 30 days bill-FREE. Cancel anytime.
Chosen 2 times
  • $500 account minimum
  • Management fee of 0.25% to 0.5% of your assets annually
  • One of the largest robo-advisors worldwide
Chosen 3 times
  • $0 fees per trade
  • $0 account minimum
  • Commission-free stock, options and ETF trades
  • Above-average mobile app

Important

Please note that loan amounts, interest rates and other loan terms may vary according to your state and credit profile.

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How to Compare the Best Robo-Advisors

Find the best robo-advisor by comparing with Financer.com
How to Compare the Best Robo-Advisors
1
Compare Fees
Compare management fees for various robo advisors.
2
Consider Account Minimums
Some robo-advisors require account minimums.
3
Choose the Best Robo Advisor
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

Inexpensive Way of Investing
Inexpensive Way of Investing
Automated Investments
Automated Investments
Expert Financial Advice
Expert Financial Advice
Professional Investment Management
Professional Investment Management

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. 

Top Robo-Advisors 2022: A Detailed Comparison

Company Overall Rating Management Fee Account Minimum Promotion Investment Options Get Started
4.6 0% $5 Free career counseling plus loan discoun... Show more Stocks, bonds, ETFs, crypto, IPO
N/A 0.25% $500 $5,000 amount of assets managed for free Stocks, bonds, ETFs, cash
5.0 0.25% annually $0 Up to 1 year of free management with a q... Show more Stocks, bonds, ETFs, cash
N/A 0.15% annually $3,000 No advisory fees your first 90 days of V... Show more ETFs, cash, common stocks
N/A 0.0% to 0.3% annually $100 Integration for Ally bank and brokerage ... Show more ETFs
N/A $1 - $9 per month $0 Up to $510 in credit to invest with qual... Show more Stocks, ETFs
5.0 0.24% annually $500 N/A Stocks, ETFs, mutual funds, options
N/A $1 - $9 per month $0 N/A Stocks, bonds, ETFs, ESG, mutual
N/A 0.25% annually $2,000 First $10,000 managed free ETFs
4.0 $45 - $250 annually $0 Blooom directly manages 401(k)s 401(k)s
N/A $0 online trades - Unlimited $0 online trades Stocks, ETFs, options, mutual funds
5.0 $0 $100 Get up to $500 when you sign up for M1 a... Show more Fractional shares
Company Overall Rating Management Fee Account Minimum Promotion Investment Options Get Started
4.6 0% $5 Free career counseling plus loan discoun... Show more Stocks, bonds, ETFs, crypto, IPO
N/A 0.25% $500 $5,000 amount of assets managed for free Stocks, bonds, ETFs, cash
5.0 0.25% annually $0 Up to 1 year of free management with a q... Show more Stocks, bonds, ETFs, cash
N/A 0.15% annually $3,000 No advisory fees your first 90 days of V... Show more ETFs, cash, common stocks
N/A 0.0% to 0.3% annually $100 Integration for Ally bank and brokerage ... Show more ETFs
N/A $1 - $9 per month $0 Up to $510 in credit to invest with qual... Show more Stocks, ETFs
5.0 0.24% annually $500 N/A Stocks, ETFs, mutual funds, options
N/A $1 - $9 per month $0 N/A Stocks, bonds, ETFs, ESG, mutual
N/A 0.25% annually $2,000 First $10,000 managed free ETFs
4.0 $45 - $250 annually $0 Blooom directly manages 401(k)s 401(k)s
N/A $0 online trades - Unlimited $0 online trades Stocks, ETFs, options, mutual funds
5.0 $0 $100 Get up to $500 when you sign up for M1 a... Show more Fractional shares

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?

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What Customers Say About Us

4.61 based on 274 reviews

from Reviews.io

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?
Although pricing can vary from one service to the next, the cost of a robo-advisor is usually determined by:
  • 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?
Robo-advisors can be a good choice for many investors, depending on their needs and how they want to manage their investment accounts. A robo-advisor can be a good idea if you:
  • 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?
There are many top-rated robo advisors; Vanguard and SoFi invest are among these and they offer low costs and great benefits. When it comes to easy-to-use robo advisors, Betterment and Ally Invest are also worth mentioning. These are well-known automated investment apps that are known for their reputation and results.
What is a robo advisor?
A robo advisor allows for automated investing by using software and data-driven decisions to make investments on your behalf. It makes it easy for beginner investors to plan for their financial goals with investment help at low cost with minimum or no account fees.
Which robo advisor has the best returns?
According to the Robo Report from BackEnd Benchmarking, some of the robo-advisors that offer the best returns include:
  • 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%
The robo-advisor performances above are based on data from 31 December 2017 to 30 June 2020.
Is the SoFi robo advisor legit?
Yes. SoFi Automated Investing is one of the best robo-advisors for low costs. The SoFi robo advisor charges no management fees and there are no account minimums either. Investors can get started with $1.

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