Today’s generation is much smarter than the previous one as they have discovered a lot of new ways of doing so many things. One such activity is investment. There have been discovered a lot of new sources of investment. Digital platform is one such source, where you will get so many platforms where you can get best returns for your hard earned money. But since, there are number of platforms available, which is better as per your requirements, how will you evaluate? So to bring you out from this dilemma, 12 best Robo Advisors are there for you.
What is Robo Advisor?
Robo Advisor are digital platforms that provide automated, algorithm driven financial planning services with little to no human intervention. A typical Robo Advisor collects information from clients about their financial situation and future goals through an online survey and then uses the data to offer advice and automatically invest client assets. Robo Advisors are generally inexpensive and hence require very low opening balances so that more and more people can have access to it. There are so many Robo Advisors available over the internet and each of them has their own features, pros and cons. So this article will reveal 12 best Robo Advisors of 2020. You will get information about their features, usages, fees and other details in the following section.
12 Best Robo Advisors of 2020
Acorns
Acorn is one of the 12 best Robo Advisors the leading micro investing app that lets you connect to a bank account and round up each transaction to the nearest dollar and further moving the round up amount to the investment portfolio. You can then invest your cash in low cost portfolios based on exchange traded funds. Also there is no such requirement of minimum opening balance in Acorns. So this is a strongly recommended Robo Advisors.
Robinhood
Robinhood has emerged as one of the most popular Robo Advisors in the investing world because of its commission free trading model. User friendly interface and time friendly as well. You can create your account in minutes and then start trading stocks straight from your mobile. As of now, it’s only available in US but soon it will be available to more people out there.
Betterment
Betterment is one of the best Robo Advisors leading platforms for online investors. When you will start , you need to tell them about the purpose of savings like retirement, vacation, college etc. The website will look at your profile and all other details and will give you the best deals available. For using Betterment, no minimum opening balance requirements, user friendly and helpful.
Chime
Another growing platforms as a robo advisor. Chime is a new generation bank account and is user friendly and available at your smartphones. In a matter of seconds, you can create your account and get started with it. Chime will provide you a Visa debit card, spending account, optional savings account, all managed through the app.
Qapital
Qapital makes your thinking bend towards growth oriented savings. First set up the purpose for which you are saving and Qapital will generate a full-fledged plan for your savings. Three levels of account are available Basic, Complete, and Master. Certain fee is assigned to each level and minimum requirement is $10. Qapital is very user friendly and helpful.
Ellevest
Ellevest is primarily designed for women’s needs. Ellevest will take into account a women’s income level, her lifetime earnings curve and longer life span to offer specifically gender based investing platform. Three types of accounts are available, digitalised portfolio, premium and wealth management. Highly user friendly app designed specifically to cater to demands of women.
Personal Capital
It is yet another leading platform in field of wealth management and innovative financial tools with around 8.5 billion assets under management and around 19,000 customers. Although it is only open to US customers but has become a leading platform in a very less time.
Bloom
Bloom aims at designing a website for specific plans like retirement. Bloom has chosen around 401,000 retirement accounts as it’s primary focus. No minimum opening balance requirements and simplified procedures make it more attractive.
Swell
Swell is yet another amazing platforms which offers you investing facilities in different companies around the globe. Swell will help you make a good strategy for your hard earned money which you have saved for future and will provide you with highest returns possible.
Stash
Stash helps people invest in various apps with a very nominal fee of $5. The app is extremely simple, guiding you to the right ETF portfolios via a simple choice of investment themes and a measure of your risk appetite. Themes include the environment, technology, clean & green.
SoFi
SoFi offers you facility of borrowing, spending, saving and investing under one platform. You can borrow loans for different purposes as well as invest with no fees requirement. User friendly interface and helpful to such a great extent.
Wealthfront
Wealthfront offers a complete range of services for hands off investors, it one of the most highly regarded app with its planning tools, automated portfolios and advanced tax optimization strategies. Wealthfront today has more than $11 billion Assets under Management.
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So above are explained 12 best Robo Advisors of 2020. You can just go online and choose the best option for your investment with their help. You all spend a good amount of time and efforts in earning good amount to satisfy your present needs and also try to save a part out of it to secure your future needs. So don’t just rely on old methods of savings and investment, instead grow with technology and save a lot of your time by not standing in queues and save yourself from spending money on traveling from one place to another. As goes the age old saying “Time is money”. So invest your money with Robo Advisors and save your most valuable wealth which is your “valuable time”.
