March 3, 2020
Every day, emerging technologies are bringing newer dimensions to the financial services industry. Robo-advisors, generally referred to as online investment services that deliver algorithmically derived financial advice, brought a new wave of automated, low-cost investment advisory to the wealth management space. Some early FinTech innovators, led by Wealthfront and Betterment, got everyone enthusiastic with their advanced AI/ML and automation capabilities, as well as easy access for a broader range of customers by virtue of low fee. Sensing the scope of this opportunity, hundreds of startups then followed suit and have tried to shake up the investment world with their offerings.
Finding the best robo-advisor is important to ensure that you are making smart investments and earning money. There are many ways to find the right robo-advisor, and it is important to compare those available from different companies before you decide which one to go with. In this week’s analysis, let's take a look at the top robo-advisors that are assisting consumers with their investment needs.
1. Betterment: Betterment is an online investment company that allows users to invest in stock and bond ETFs. It also provides a facility to open an account without paying any deposit and charges a management fee of 0.15%–0.35% based on the account balance. Its automated platform eliminates the typical complexities & time taken by a traditional investment account and also offers a B2B2C platform for RIAs as ...