Top 10 Robo-Advisors for Smart and Automated Investing in 2024

We have curated a list of the best robo-advisors that can simplify your financial planning and investments!
Last Updated on : January 08, 2024
best robo advisors
Have you ever imagined a world where Robots will take over everything? A world where robots can be used for doing household chores, managing and running successful businesses, and for doing multiple other jobs.

A lot of this has been made possible with recent advancements in technology. You can now use robots to make financial decisions that will give you the best yield. Robo-advisors can help you make the right choice to invest your money in the best possible manner.

With the development of financial apps, wealth management has become completely digitalized. These apps assure you the best solution to secure your long-term financial growth. Some of the best financial software development companies are increasingly offering clients digitized and long-term financial planning solutions. Many investors are gravitating towards advanced technology platforms such as robo-advisors to enhance their wealth management strategies.

A robo-advisor is one such digital platform that provides automated financial planning and investment services without much human effort. If you are also looking for the best robo-investment apps available, this article has got you covered. You can find the top robo-investing apps to help you make investment decisions.

Secure Your Wealth and Invest Smarter with the Best Robo-Advisor Apps

1.

Wealthfront

Wealthfront

Download Wealthfront:

4.8
4.5

About Arrow

Wealthfront offers the most popular secure digital platform for people who are looking for automated financial guidance. It markets itself as the top robo-advisor app that assists you to “use technology to make money on all your money.”

It provides a tailored investment portfolio at lower costs. It is preferred by many users who are interested in low-cost portfolio management. This automated investing platform offers access to ETFs, cryptocurrencies, index funds, and more. 

Wealthfront creates a Socially Responsible portfolio that is targeted toward sustainability, diversity, and equity. It also gives you an option to alter your portfolio if you do not like the recommendations of the robo-advsior. 

The tools by this advisor are easy to use and are extremely helpful in wealth management. It provides all the necessary financial information on its website and is regarded as one of the best online brokerages available.

Why we picked it? Arrow

2.

Betterment

Betterment

Download Betterment:

4.7
4.6

About Arrow

Betterment is one of the original robo-advsiors that has substantially improved and expanded its platform to include a wide range of features. It is one of the best-rated and highly functional investing platforms that are ideal for investors who want to be hands-off.

It is best suited for investors who are saving for something big like- college funds, down payments, or their retirement. It continues to rank as the best robo-investment app as it analyzes your risk tolerance and investment goals and automatically invests your money in a customized portfolio.

Betterment offers a simple platform that makes it the best robo-advisor for beginners to get started. It also offers all the advanced tools for experienced investors. Along with investing options, the app also provides a cash account allowing users to streamline their finances.

The app aims at maximizing your return by assisting you in everything, starting from initial deposits to monthly savings. It gives you a chance to optimize your finances in the best manner possible.

Why we picked it? Arrow

3.

Vanguard Personal Advisor Services

Vanguard Personal Advisor Services

Download Vanguard Personal Advisor Services:

4.7
2.2

About Arrow

Vanguard Personal Advisor Services is the best asset management tool that offers unlimited access to financial advisors. The app employs Vanguards’ strong fund line-up with technology to design customized wealth management plans for users. 

It is an ideal solution for getting access to financial advisors at lower costs. The app is also suitable for assisting in comprehensive financial planning and in regulating large account balances. 

This app is mostly preferred by users who are getting close to their retirement. It offers a personal touch similar to traditional financial advisors at the price of a robo-advisor. Vanguard is suitable for both portfolio management and advisor access. 

It is build for investors with a higher account balance who are seeking financial advice at low advisory costs. The main goal is to offer personalized financial management at a lower consumer cost.

Why we picked it? Arrow

4.

Fidelity Investments

Fidelity Investments

Download Fidelity Investments:

4.8
4.3

About Arrow

Fidelity Investments is an extremely helpful robo-advisor app offering automated portfolios without minimum investment requirements. It is a low-cost and easy-to-use platform that is mainly focused on helping new investors. 

The app offers a secured investment experience directed towards beginners, hands-off investors, and existing Fidelity clients. It provides a streamlined financial solution by enabling streamlined portfolio management. 

Its advanced technology allows you to set your desired goal and invest quickly by choosing from a short menu of portfolio allocations available. All the portfolios are well-diversified and are closely monitored and regulated by human advisors. 

It is incredibly simple to get started with Fidelity Investments. All that you need to do is ask a series of short questions that will determine your risk tolerance and ideal asset allocation. It also monitors your account and rebalances it whenever required.

Why we picked it? Arrow

5.

Charles Schwab Intelligent Portfolios

Charles Schwab Intelligent Portfolios

Download Charles Schwab Intelligent Portfolios:

4.8
3.6

About Arrow

Charles Schwab Intelligent Portfolios offers highly-flexible and low-cost robo-advisor options for users with a minimum investment of $5,000. The minimum requirement is comparatively higher than other advisors available. However, a user-friendly interface and no advisory fees make it a preferred choice for consumers. 

Users can customize their portfolios by selecting their preferred investing goals that, include saving for retirement, college, holidays, or creating a sustainable, long-term wealth stream. This digital platform offers a variety of account types, including IRAs, Roth IRAs, SIMPLE IRAs, revocable living trusts, and general brokerage accounts. 

Schwab recommends its own low-cost funds; however, the clients can also choose from ETFs from other providers. Based on some simple questions related to your risk tolerance, investment goals, and others, the app provides a tailored investment plan for each user. 

Through Schwab’s interactive tools, you can run scenarios based on risk profile and your investment strategy. This enables you to have an overview of what your investments would actually look like.

Why we picked it? Arrow

6.

SoFi Automated Investing

SoFi Automated Investing

Download SoFi Automated Investing:

4.8
4.0

About Arrow

SoFi Automated Investing is a financial tool that assists hands-off investing through your mobile phone. It offers an unbeatable deal for investors who are just starting and are seeking financial assistance. 

It takes a solid approach to help investors build a secure and wealth-proof investment plan. It is the only fee-free platform that offers a certified Financial Planner advisor access for all members without any cost. 

SoFi provides a well-diversified portfolio that contains both low-cost and fee-free ETFs for users. It is well-known for its customer-centric approach towards student loans and other lending. With this digital platform, you stand a chance to invest in stocks, mutual funds, ETFs, and cryptocurrencies. 

It is one of the best performing robo-advisor apps for newer investors who have little upfront capital to contribute and are looking to automate their investment strategy with bare minimum expenses. SoFi Automated Investing makes the process convenient by managing your goals, rebalancing your account, and diversifying your money.

Why we picked it? Arrow

7.

Ellvest

Ellvest

Download Ellvest:

4.7
4.3

About Arrow

Ellevest is an exceptional robo-advisor app that is managed by women and marketed to women. It can be used by users of all genders, but it primarily focuses on achieving what women want from a money management service. It is suitable for new investors who are targeted towards a holistic approach to their investments.

It is the best robo-advisor for beginners who are just starting their investment journey or by people who are looking to save for a specific goal or for their retirement. The customers are presented with a customized investment plan based on their investment preferences, financial goals, and risk tolerance. 

Ellevest provides individual taxable brokerage accounts that include, Roth IRAs, traditional IRAs, SEP IRAs, and rollover IRAs. Along with investment plans, the app also offer 1 on 1 coaching sessions with financial planners and coaches. 

Apart from the paid sessions, you can also opt for free educational sources like online workshops, video lectures, email courses, etc. It is one of the very few robo-advisors that charges a flat monthly fee, irrespective of you account balance.

Why we picked it? Arrow

8.

M1 Finance

M1 Finance

Download M1 Finance:

4.7
4.5

About Arrow

M1 is a financial service company that provides the top robo-advisory investment platform with multiple user accounts. It enables users to trade financial assets, including preferred stocks, common stocks, exchange-traded funds, and fractional share ownerships. 

It offers automated investment plans and expansive portfolio customization alongside multiple borrowing and spending features. You can either select from portfolios that are already available or can customize one based on your strategy. 

This app is mainly directed toward experienced investors looking to automate their investment planning. It offers investment plans that are aligned with diversification goals, risk tolerance, and personal preferences. 

This digital platform is best known for its low-cost services and no-fee investment management. It also offers borrow and spend options for investors who are looking for additional product offerings.

Why we picked it? Arrow

9.

Ally Invest Managed Portfolios

Ally Invest Managed Portfolios

Download Ally Invest Managed Portfolios:

4.7
3.8

About Arrow

Ally Invest Managed Portfolios provides an easy-to-use robo-advisor app for newer investors. It is targeted to help investors who have less complicated finances and offers a minimum investment of $100. This service is best suited for retirement accounts or for customers who prefer a managed account.

It provides you with a diversified portfolio of low-cost traded funds that exist within Ally. With this, you can gain access to multiple services offered by the company, which will let you centralize all the financial planning under one roof. 

Like other robo-advisors, Ally Invest Managed Portfolios created a personalized portfolio by gauging your financial interests and preferences through a series of questions. It offers 4 different portfolios that are based on low-cost funds. 

The annual fee of managing an Ally account can be waived if you opt to keep a minimum of 30% of your portfolio in cash. If not, you are eligible to pay a fee of 0.30% annually.

Why we picked it? Arrow

10.

E*Trade

E*Trade

Download E*Trade:

4.6
3.9

About Arrow

E*Trade is a mobile trading platform that offers exceptional tools and features that attract many investors across the globe. It is the largest online broker that offers a wide range of investment choices and trading tools to simplify the process. 

The app can help new investors to enter the market with maximum ease and full knowledge about the same. It offers a number of tools for experienced investors, including- research tools, charting functionality, analysis tools, and many more. 

This robo-advisor builds automated investment management plans that are customized to the needs and preferences of individual investors. Along with trading and investing options, E*trade features an educational content library that can educate users about trading, investing practices, current market situations, and other similar topics. 

With E*Trade, you can invest in your preferred assets out of a huge variety available. These assets include stocks, ETFs, mutual funds, commodities, etc. The platform charges a competitive fee and offers free access to the E*Trade platform.

Why we picked it? Arrow

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Conclusion

Best robo-advisors leverage the most advanced algorithms related to trading and investments. These are a great way to automate and simplify investment strategies and financial decisions for investors. The advisors can optimize investors’ risk and can automatically manage and rebalance their portfolios.

These advisors are yet to be fully accepted in the market. However, with their low fee services and minimum balance requirements, robo-advisors have attracted many investors, both new and experienced. These digital platforms are majorly used by new-age investors or tech-forward individuals who are looking to maximize their returns at minimum costs. With growing digital transformation and advancements, robo-advisors are set to revolutionize the ways of trading and investments.

Further, if you are an app owner and are looking to list your product, you can get in touch with us at MobileAppDaily. Our expert reviews can maximize the reach of your app and can help it grow significantly. Till then, keep on exploring MobileAppDaily for the latest insights and information.

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