Investing has always been a complicated but necessary obstacle, which everyone must do to in order to grow their wealth. In the past, you would have to call or go see a financial adviser in person who would then manage your investments and help grow your wealth for you. Although, you can still hire a personal financial adviser today, they typically have very high fees and tend to push you into investments that may not fit your financial goals.
Thanks to the internet and advancing technology, there’s a much easier, more convenient, and much more affordable way to get financial guidance with your investments. Robo-advisors are becoming ever-so popular with their never before heard of low-fees and user-friendly designs.
Robo-advisors are make investing so simple and affordable, anyone can begin investing. Even those who know nothing about investing. All you have to do is pick a robo advisor, enter in your preferences –– like your age, risk level, and financial goals and they take care of everything else!
They manage and do all your investing for you based on your financial goals. You can easily and quickly check your account at any time to see how much your investments have grown, transfer money, and make any changes or adjustments to your account.
So what robo-advisor is best for you? We did all the tough research for you and constructed a list of the best robo-advisors available. Below, we’ve listed a quick description, cost and fees, minimum balance requirements, and links to where you can learn more about each one.
|Online Broker||Cost & Fees||Account Minimum||Description & Promotions||Links|
|Betterment||Less than $10,000: 0.35% with $100 a month auto-deposit|
$10,000 to $100,000: 0.25%
$100,000 and higher: 0.15%
|$0||They're an automated investing service that provides intelligent investment options to individuals who want a better way to manage their money and build wealth.|
Get three months free, when you make a first deposit of $5000.
Get four months free, when you make a first deposit of $25,000
Get six months free, when you make a first deposit of $100,000.
Read more about Betterment
|FutureAdvisor||0.50% portfolio management fee||$10,000 to use their premium features.|
No fee/cost to get free investment advice, and link your accounts.
|An online investment adviser. They manage your investments for you by automatically managing your wealth, based on your financial goals. ||
|Motif Investing||$9.95 per Motif trade (basket of up to 30 stocks)||$0||Offers baskets of up to 30 stocks, called "Motifs". |
Buy pre-made Motifs or create your own.
Interact with other investors and get feedback on your investments and ideas.
|Personal Capital||0.49-0.89% for advisor service.|
Free to link your accounts
Free to link your accounts
|Portfolio manager and investment advisor.||
Read more about Personal Capital
Author: Tyler DeBroux
Tyler started Oddball Wealth towards the end of 2014 after graduating college, as a way to stay relevant in his area of study, stimulate his mind, and to educate and help others.
Tyler has worked in the financial services industry, as a financial advisor, helping his clients make wise financial decisions and personalized long-term financial plans. Since graduating college in December of 2014, Tyler has paid off more than $15,000 in student loan debt and counting, his goal is to have all his student loans paid in full by the in of 2016.
Tyler is an entrepreneur and an expert in personal finance. Two of his many hobbies include investing and building online businesses. He is also a big advocate of early retirement and an aggressive saver, who utilizes any financial resources and tools available to him to help reach his goals for achieving financial independents.