Our Top Robo-Advisors for April 2024
Chosen 107 times- Among the lowest cost robo-advisors
- Choose ETFs that represent over 30 asset classes
- Account minimum of $500
- Tax-loss harvesting
- Flexible, customizable, and automated
- $0 commissions and no management fee
- $100 account minimum
- 0.06%–0.20% fund expense ratio
Chosen 235 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 64 times- $500 account minimum
- Management fee of 0.25% to 0.5% of your assets annually
- One of the largest robo-advisors worldwide
Chosen 87 times- $0 fees per trade
- $0 account minimum
- Commission-free stock, options and ETF trades
- Above-average mobile app
Important
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.
| Company | Overall Rating | Management Fee | Account Minimum | Promotion | Investment Options | |
|---|---|---|---|---|---|---|
| | 0.25% | $500 | $5,000 amount of assets managed for free | Stocks, bonds, ETFs, cash | Get Started | |
 | 0.25% annually | $0 | Up to 1 year of free management with a q... Show more Up to 1 year of free management with a qualifying deposit Show less | Stocks, bonds, ETFs, cash | Get Started | |
 | 0.15% annually | $3,000 | No advisory fees your first 90 days of V... Show more No advisory fees your first 90 days of Vanguard Digital Advisor investment management Show less | ETFs, cash, common stocks | Get Started | |
 | 0.0% to 0.3% annually | $100 | Integration for Ally bank and brokerage ... Show more Integration for Ally bank and brokerage clients Show less | ETFs | Get Started | |
 | $1 - $9 per month | $0 | Up to $510 in credit to invest with qual... Show more Up to $510 in credit to invest with qualifying deposit into taxable account (see terms) Show less | Stocks, ETFs | Get Started | |
| | 0.24% annually | $500 | N/A | Stocks, ETFs, mutual funds, options | Get Started | |
 | $1 - $9 per month | $0 | N/A | Stocks, bonds, ETFs, ESG, mutual | Get Started | |
 | 0.25% annually | $2,000 | First $10,000 managed free | ETFs | Get Started | |
 | $45 - $250 annually | $0 | Blooom directly manages 401(k)s | 401(k)s | Get Started | |
 | $0 online trades | - | Unlimited $0 online trades | Stocks, ETFs, options, mutual funds | Get Started | |
| | $0 | $100 | Get up to $500 when you sign up for M1 a... Show more Get up to $500 when you sign up for M1 and make a deposit of $1,000 or more within 14 days. Show less | Fractional shares | Get Started |
| Company | Overall Rating | Management Fee | Account Minimum | Promotion | Investment Options | Get Started |
|---|---|---|---|---|---|---|
| | 0.25% | $500 | $5,000 amount of assets managed for free | Stocks, bonds, ETFs, cash | Get Started | |
| | 0.25% annually | $0 | Up to 1 year of free management with a q... Show more Up to 1 year of free management with a qualifying deposit Show less | Stocks, bonds, ETFs, cash | Get Started | |
| | 0.15% annually | $3,000 | No advisory fees your first 90 days of V... Show more No advisory fees your first 90 days of Vanguard Digital Advisor investment management Show less | ETFs, cash, common stocks | Get Started | |
| | 0.0% to 0.3% annually | $100 | Integration for Ally bank and brokerage ... Show more Integration for Ally bank and brokerage clients Show less | ETFs | Get Started | |
| | $1 - $9 per month | $0 | Up to $510 in credit to invest with qual... Show more Up to $510 in credit to invest with qualifying deposit into taxable account (see terms) Show less | Stocks, ETFs | Get Started | |
| | 0.24% annually | $500 | N/A | Stocks, ETFs, mutual funds, options | Get Started | |
| | $1 - $9 per month | $0 | N/A | Stocks, bonds, ETFs, ESG, mutual | Get Started | |
| | 0.25% annually | $2,000 | First $10,000 managed free | ETFs | Get Started | |
| | $45 - $250 annually | $0 | Blooom directly manages 401(k)s | 401(k)s | Get Started | |
| | $0 online trades | - | Unlimited $0 online trades | Stocks, ETFs, options, mutual funds | Get Started | |
| | $0 | $100 | Get up to $500 when you sign up for M1 a... Show more Get up to $500 when you sign up for M1 and make a deposit of $1,000 or more within 14 days. Show less | Fractional shares | Get Started |
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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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?
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