Robo advisors can help you save time and guide you to improve your investment portfolio. Here you will find the five best robo advisors, check them out and find out which one suits your investment needs better.
Robo advisors were created to make investors' lives easier, especially to those who don't have enough time or knowledge to manage their investment portfolio.
There are plenty of robo advisors in the market nowadays. This guide gathers the best ones, so check the options and which suits your investment needs best!
The best Robo Advisors
This robo advisor is integrated with Ally.com, an online bank. It provides investors the opportunity to create diversified portfolios based on their risk tolerance.
If you have already been investigating about robo advisors, you may have known this one as TradeKing Advisors. Ally Financial acquired it in 2016.
The minimum investment required to start an account is $100 and it doesn't count with annual management fees. Portfolios are made of exchange-traded funds (ETS) and the usual expense ratio is 0.08%.
This is one of the most popular platforms. It doesn't have a minimum investment requirement and grants complete automation.
As it happens with most of robo advisors, once you open your account you will need to complete a form with your risk tolerance and investment goals. After you make the deposit, the robo advisor will automatically invest the money into your portfolio.
This platform will charge a 0.25% annual fee.
This robo advisor will create your portfolio according to your risks, goals and automated trading services. Its software offers a planning tool that can make predictions based on your trading style and an evaluation of the market.
This is the ideal robo advisor for passive investors who don't have enough time to make online research for their investment. It counts with a 0.25% fee and a fund fee based on your funds (it can be of 0.07% to 0.16%).
This robo advisor is one of the best options for small investors. It actually is very popular with students and young investors, as it has a simple user interface and uses the investor's profile to offer the best automatic investment options.
In this case, it has no minimum investment requirement and has a 0.25% annual management fee.
Also very popular among young investors and millennials, Wealthsimple is an easy-to-use platform and counts with specific features to guide you in your investment, like generating a low risk-low return portfolio or automatic rebalancing, among others.
In this case, the account management fee reaches 0.5% for balances of up to $100,000 and 0.4% for those over $100,000.