Top Robo-Advisors 2021: A Comparison
How to Compare the Best Robo-Advisors
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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
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?
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