Presenting the Best Robo Advisor Reviews
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Robo Advisors are relatively new to the financial arena, but more and more people (including business magnates and tycoons as well as regular Joes) are already using them for their investment accounts, big or small. Financial experts suggest that Robo Advisors are more than just a trend in our fast-paced digital world. Bloomberg previously reported that assets under management by Robo Advisors are increasing by 68 percent annually, with total assets projected at around $2 Trillion by the year 2020.
Here’s a list of the latest Robo Advisor reviews for people looking to invest in 2017:
Aite Group estimates assets in automated portfolios increased 210 percent last year. Despite that growth, the $50 billion invested is still a small part of the $20 trillion wealth-management market.
As of December 2014, it was estimated that Robo advisors were managing around $19 billion in total assets. The amount of investments under their direct management has grown so rapidly that it is now estimated that Robo Advisors will handle approximately $2 Trillion in total assets by 2020. With more and more services being established on a monthly basis, we at BestRoboAdvisors.org have taken it upon ourselves to publish the best Robo Advisor reviews so you can make a well-informed financial decision.
Robo Advisors makes it easy for virtually anyone to start investing online, and they make the service more directly accessible to a wider range of potential investors. There is no need to pay an expensive financial advisor to manage your financial portfolio. Simply sign up and make the deposit, and let the Robo Advisor do the rest of the work. Since Robo Advisors offer flexible services that are easy to use, they are gaining popularity at a rapid rate, and that popularity is expected to increase as more and more people sign up for the service.
Here at BestRoboAdvisors.org, our Robo Advisor reviews take a comprehensive look at many of the main Robo Investor services online. Our aim is to highlight their strengths, weaknesses and how they may suit different kinds of investors. In order to better understand how we create our Robo Advisor reviews, allow us to explain the manner in which we assess each service, and how this will help you make a smart financial decision, even without the help of a costly human advisor.
How we Review Robo Advisors Online
Robo Advisors are still relatively new additions to the financial landscape, so they can be bewildering and intimidating upon first glance – particularly when it comes to choosing which one you can trust with your money.
That’s why we have taken it upon ourselves to do the legwork for you. We signed up for the service, we invested our own money and we took a critical look at each Robo Advisor service, particularly the features included and the way that they manage different portfolios.
Because of this, we were able to identify a number of criterion which we used to review and differentiate various Robo Advisor services. However, it is crucial to understand that not all of these key points are important to an individual investor. This is a critical point which we also included in our Robo advisor reviews, wherein we explain in detail how a Robo Advisor’s performance in each criteria relates to investors of different types, and most notably, of different investment amounts.
Our Robo Advisor Review Criteria
Each of our Robo advisor reviews will take a diligent look into the best automated investing services around, and we will dissect what they offer to investors according to five key criteria, and these are:
Fees and deposit limits
How much does the Robo Advisor cost to use? Some charge a small percentage of total assets managed, while others might charge a flat fee.
Some Robo Advisors, however, don’t charge anything at all!
How much are you able to manage the account yourself? Some Robo Advisors let you have full control but offer investment and allocation advice, while others are a fully hands-off approach, managing everything for you while your only choice is how conservative or aggressive you’d like to be in your approach.
Ease of use
Some Robo Advisors are geared more toward beginner investors and make their service very easy to understand, managing almost everything for you. Some, which offer more features and options, take a little more knowledge to completely understand. We break it all down for you.
Account types and services
This section covers the different types of account types between the Robo Advisors and explains which features they offer.
For example, some offer features such as tax loss harvesting or automatic rebalancing for everyone, while others either don’t offer it or offer it only on accounts with a larger amount invested.
We tell you which features you should be focused on and which Robo Advisors offer that service.
Suitability for different budgets
As we already mentioned, some Robo Advisors are best for those with lower amounts to invest, while others are for investors with lots of money on hand.
For example, with one of our favorite Robo Advisors, Wealthfront, only has a low $500 minimum deposit, and offers all of its features to accounts under $15,000 for free!
On the other hand, Vanguard Personal Advisor Services has an astronomical minimum investment of $50,000, but offers some great personalized investment advice and features.
We go over all of the Robo Advisors and let you know which one is best for your budget.
Read the Best Robo Advisor Reviews Before You Sign Up!
If you are a beginner, or if you are new to investing, we highly suggest you read the best Robo Advisor reviews before signing up. Our reviews will help you to better understand what are Robo Advisors and the type of service they provide to each investor, including the minimum amount of investment and the fees that they charge for the service.
However, if you are a seasoned investor and would want to know more about Robo Advisors, feel free to browse around and read our expert Robo Advisor reviews. You might just find the best service that is a perfect fit to your growing financial portfolio.