5 Best Robo Advisors in 2021 | Robo-Advisor Automated Investment | Robo Advisor Investing
5 Best Robo Advisors in 2021 | Robo-Advisor Automated Investment | Robo Advisor Investing
If you've avoided investing because it looked either expensive or difficult, you'll be relieved to learn that robo advisers have solved both of these issues.
Here are the 5 Best Robo Advisors for you.
1. M1 Finance
M1 Finance is a hybrid between a robo advisor and a traditional brokerage.
With M1 Finance, you can open an individual or joint taxable account; a retirement account such as a traditional, Roth, or SEP IRA or a trust.
Account Minimum: $100 for taxable accounts, $500 for IRAs.
Management Fee: 0%.
Expense Ratio: 0.06% to 0.20% of ETFs annually.
Portfolio Rebalancing: Automatic
2. Betterment
Betterment offers tax-loss harvesting, portfolio rebalancing and robust financial planning tools.
Betterment’s platform is incredibly easy to use. Betterment offers individual and joint non-retirement accounts; traditional, rollover, SEP, and Roth IRA accounts; trusts; and cash accounts.
Account Minimum: $0 for Digital plan; $100,000 for premium plan.
Management Fee: 0.25% to 0.40% monthly.
Expense Ratio: 0.06% to 0.13% of ETFs annually.
Portfolio Rebalancing: Depends on the plan.
3. Acorns
Acorns is an excellent choice for hands-off investors, complete beginners, and non-savers. It manages individual non-retirement accounts, traditional and Roth IRAs.
Account Minimum: $5.
Management Fee: $1 to $5 monthly.
Expense Ratio: 0.18% of ETFs annually.
Portfolio Rebalancing: Automatic.
4. Wealthfront
Wealthfront offers multiple tax-optimization strategies, low fees, and free financial planning guides.
Wealthfront offers traditional, Roth, SEP, and rollover IRAs; individual and joint non-retirement accounts, trusts and cash accounts.
Account Minimum: $500 for investment accounts and $1 for cash accounts.
Management Fee: 0.25% monthly.
Expense Ratio: 0.06% to 0.13% of ETFs annually.
Portfolio Rebalancing: Automatic
5. Sofi
Sofi doesn’t charge administrative or advisory fees, and it provides access to low-cost ETFs.
SoFi’s offers retirement accounts such as traditional, Roth, SEP, and rollover IRAs, along with individual and joint non-retirement accounts.
Account Minimum: $0.
Management Fee: 0%.
Expense Ratio: 0.03% to 0.08% of ETFs annually.
Portfolio Rebalancing: Automatic.
So these are the 5 Best Robo Advisors.
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