27 Robo Advisers That are Reshaping Personal Finance

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robo advisers personal finance
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Thanks to innovative Fintech solutions, now you can seek advice from artificial intelligences and even entrust them to manage your finances.

Traditionally, financial advice relies on personal relationships between the client and their consultant.

However, new technologies, especially AI, paved the way for robo-advisers that are increasingly disrupting the old model of financial services and changing the role of the financial advisor.

27 robo-advisers to manage your finances and help you plan for the future.Click To Tweet

Three words sum up what customers have come to expect from financial services: reliable, fast, and cheap.

Human financial advisers are reliable on account of their expertise and understanding of customers’ needs. But, as people with their own lives, they only have so much time to dedicate to other peoples’ portfolios.

What’s more, their fee structure may not always be transparent as their perception of workload is more fluid than a machine’s.

So when Fintech startups offer reliable, almost instant and low-cost financial services, you bet people will get interested, especially our favorite: tech-savvy millennials.

If you want professional management of your portfolio that saves you time and makes you money with low-fees, check out these 27 robo-advisers listed below. They’re all useful, we just put them in alphabetical order.

1. Acorns

“Invest the change” that’s the motto of Acorns, who helps you fructify the spare change left from your daily expenses.

Acorns rounds the amount you spend to the next dollar and allows you to invest the difference. Say, for example, you spent $9.12, Acorns invests $0.88 for you.

2. AssetBuilder

AssetBuilder invest in the booming DFA funds (Dimensional Fund Advisers), which are only available to financial advisers.

AssetBuilder bot takes into account many factors to customize your investment portfolio.

3. Betterment

With over $7 billion USD of AUM (Assets Under Management), Betterment is one of the leaders in the automatic investment niche.

Betterment offers many helpful features, such as their goal-based investment approach, retirement planning tool, and automatic tax-loss harvesting.

4. Blooom

Dedicated to the 401k market, Blooom is helping its customers get the best retirement nest egg.

For $10 per month, Blooom optimizes your retirement account and minimizes hidden fees to ensure its growth.

5. Ellevest

Ladies, Ellevest has you covered!

Made by women for women, Ellevest (elle (she) + invest) is one of the few robo-advisers available dedicated to women in a mostly patriarchal sphere.

6. E*Trade Adaptive Portfolio

You need $5,000 USD as a minimum initial portfolio to start using the E*Trade Adaptive Portfolio robo-advisor, from the brokerage company E-Trade.

At a low advisory fee of just 0.30% annually, you get a customized diversified portfolio with automatic rebalancing.

7. Fidelity Go

Launched last July, Fidelity Go benefits from the brand name of Fidelity Investments, the renowned financial investment firm.

Fidelity Go manages accounts with $5,000 and over for an annual all-in advisory fee of 0.35%, suggesting you a custom diversified investment portfolio.

8. Financial Engines

According to Financial Engines, which conducted a survey, while people like the idea of online portfolio management, they still want a human advisor to be there just in case.

Thus Financial Engines offers both options, you can use the platform and could have access to a human financial advisor via the phone at no extra charges.

9. Financial Guard

With Financial Guard robo-advisor, you don’t need to transfer funds between accounts, and manage all investment from one place. For an annual flat fee, Financial Guard offer investment allocation, fund selection, and financial education.

10. FutureAdvisor

Just like the previous robo-advisor, FutureAdvisor doesn’t need you to transfer your money and manages your investments in their existing accounts.

FutureAdvisor also allows you to manage multiple accounts, rebalance portfolio, and harvest tax loss.

11. Hedgeable

You can start investing with as little as $1 with Hedgeable.

With this robo-advisor, you have the opportunity to access asset classes usually reserved for wealthy investors, an AI-customized portfolio, and also a loss-minimizing feature.

12. IncomeClub

A bond investment robo-advisor, IncomeClub is for investors who prefer bonds over funds.

IncomeClub gives you access to global bond markets and, based on your risk and time preferences, invests in individual bonds in your name, and offer you personalized advice.

13. LearnVest

With its customized tools and advice, LearnVest robo-advisor offers a whole financial planning strategy.

In addition, LearnVest has an educational value, through its online classes, and resources that help you become the investor you want to be.

14. M1 Finance

M1 Finance is a robo-advisor for DYI investors who like to keep control of their investments or take risks.

So with M1, you don’t have to fill a risk assessment questionnaire, you choose your asset allocation, and create your own portfolio.

15. MarketRiders 

MarketRiders says its software has been built based on the research of Nobel Laureates and put at your disposal to help you copy institutional investors.

You have two options: a subscription-based online investing software or an investment management service by the MarketRider’s experts.

16. Motif

Motif is another DIY robo-advisor, which also offers the option of automated investing. With Motif, you can trade up to 30 stocks, get access to IPOs starting from $250, and to Motif Impact Portfolios (fully automated portfolios).

17. Merrill Edge Guided Investing

Merrill Edge Guided Investing is an online platform that combines the Merrill Lynch’s expertise and cutting-edge technology.

With an entrance investment of $5,000 and up, you specify your investing goal and you get an investment strategy as recommended by Merrill Lynch experts.

18. Personal Capital

The Personal Capital platform offers clients a slew of free financial and wealth management tools, including their portfolio management software.

A paid subscription gets you access to a dedicated financial advisor.

19. QPlum

Catering for personal and institutional investors, QPlum believes investing is a science, and for that treason uses machine learning systems.

QPlum uses AI-based investment portfolios and asset management techniques to ensure maximum protection and highest ROIs.

20. Rebalance IRA

Dedicated to retirement assets management Rebalance IRA offers some of the lowest fees and highest returns that will add up to the retirement nest egg.

Besides helping clients construct and customize a diversified portfolio, Rebalance IRA assigns an experienced advisor for each investor.

21. Schwab Intelligent Portfolios

Based on the client’s goals, timeline, and risk tolerance, Schwab Intelligent Portfolios will construct manage an investment portfolio of ETFs, and automatically rebalance it when needed.

All that with $0 fees (advisory and account service fees or commissions).

22. SigFig

SigFig robo-advisor manages your investment assets in their accounts, and has three investment options:

Portfolio Tracker (completely free), Asset Manager (first $10,000 free, then 025% fee annually), and last, Diversified Income (minimum of $100,000 and a 0.5% annual fee).

23. Stash

Instead of direct management of portfolio, the Stash robo-advisor is designed for up-and-coming investors to help them learn and evolve with an easy-to-use app.

Client select their own portfolio from dozens of available ETFs, which has been conveniently relabeled, like “Clean and green” ETF for renewables.

24. TD Ameritrade Essential Portfolios

TD Ameritrade Essential Portfolios groups investment portfolios into five categories according to risk level, conservative, moderate, moderate growth, growth, and aggressive.

Essential Portfolios requires $5,000 minimum and takes 0.30% of annual fee.

25. Vanguard Personal Adviser Services

Targeting clients with $50,000 minimum, Vanguard Personal Adviser Services may not be suited for newbie investors.

But Vanguard offers a digital/human advisory platform, for a 0.30% flat fee, which is low for such a hybrid solution.

26. Wealthfront Path

Wealthfront’s new Path is an automated retirement planner.

Based on your spending and savings habits, and your desired retirement age, Path help you plan your finances today to ensure a certain lifestyle in the future.

27. WiseBanyan

Self-proclaimed “the world’s first free financial advisor”, WiseBanyan has zero management and investing fees.

You also can start investing with WiseBanyan with as little as $1, which makes it a good entry point for beginners.

Which of these have you tried? What was your experience?

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