Best Robo Advisers

Robo advisers have revolutionized investing by helping people build and manage their portfolios for a fraction of the cost of a wealth management firm. The top five robo advisers were chosen based on factors such as functionality, cash management, fees, and socially conscious investing.

1. Betterment

Launched in 2008, Betterment has no account minimum to start investing. It offers simple planning tools to help investors develop and manage their investment strategies. The platform is best suited to new investors just getting started in the world of financial investments.

The platform also has checking and savings account options for those who prefer to streamline their finances.

2. Wealthfront

Wealthfront is an automated investment platform, founded in 2008 as a fully digital robo-adviser platform. Financial planning and path-setting tools are the strong suits of this digital portfolio manager. Features include 529 pre-set plans, daily tax-loss harvesting, and other financial solutions, such as checking accounts and a loan facility. Its affordability-to-quality ratio is another major plus point.

3. SoFi

SoFi lets investors get started with $1 and prioritizes managing goal planning, auto rebalancing, and diversification. Members get benefits, such as career services and loan discounts, and they have access to qualified financial advisers at no cost. This platform is designed to make investing easy for investors who don't closely follow the financial markets.

4. Interactive Advisors

Interactive Advisers is ideal for investors who want to make a difference in the world by making socially responsible financial decisions. It's possible to block businesses whose mission isn't aligned with the investor's ethics and focus on those that are. There are more than 50 built-in investment strategies (including socially conscious ones), plus a wide range of portfolio options.

5. Vanguard Personal Adviser Services

Experienced investors or those looking to manage a high-balance account tend to find Vanguard's features favorable. The minimum account balance is $50,000, but fees are still impressively low. In addition to ongoing robo-adviser services, clients have access to real-life financial planners. These fiduciaries don't earn commissions, so investors avoid unwanted sales pitches.