Best Robo Advisors
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What Are Robo Advisors?
A robo advisor is a managed investment solution that’s automated via computers, hence the name “robo.” Robo advisors buy and sell securities, like bonds and stocks, in your account in accordance with your predefined risk tolerance. In today’s digital age, automated investment services make a lot of sense. Companies like Betterment, Wealthfront, and Wealthsimple all employ algorithms to make investment decisions for tens of thousands of clients everyday.
We spent 200+ hours searching for robo advisors in 2019, because not all robo advisors are made equal. Many shady online lenders have high variable rates and lots of hidden fees. None of the advisors on this page have hidden fees, and all are highly rated and respected.
What Are the Benefits of Robo Advisors?
Here are some of the benefits robo advisors in 2019:
- Ultra low-cost way to invest in the stock market
- Professionally management investments
- Hands-off approach (don’t have to worry about anything)
- Great way to invest for the long-term
According to research by the Chicago Tribune, roughly 54% million Americans are invested in the stock market. This is one of the ways the rich keep getting richer, because as stocks move higher, investors reap the rewards and only pay a 15% long-term capital gains tax, as opposed to up to 40% regular income tax with a job.
Do Robo Advisors Charge Fees?
All of the robo advisors on this site are completely free to sign up for. We do not recommend any robo advisor companies that have hidden fees.
Typically, there is a small asset management fee for a rob advisor, often less than a few basis points annually. This is a very small price to pay for fully automated investing, however.
What is OptionsBro?
OptionsBro.com is an online financial information site dedicated to providing simple tutorials, reviews, and comparisons on all things finance.
Collectively, we’ve spent thousands of hours examining the most popular financial products and tools. Bottom line, we simplify and explain the myriad of consumer financial options available today, so you can make decisions with ease.
Updated: Jan 30, 2021