Tag: Robo Ranking
Posted on October 1, 2019
Winner: Vanguard Personal Advisor Services
Runner-Up: Personal Capital
Honorable Mentions: Ellevest & Wealthsimple
Digital-only platforms currently lack the high degree of sophistication and customization needed for complex financial planning. Therefore, investors looking for more personalized advice and tailored portfolio allocations still need to work with live advisors. In order to justify the level of customization being offered, such services typically have higher investment minimums than digital-only products.
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Posted on September 13, 2019
Winner: Betterment
Runner-Up: SoFi
Betterment wins the award for Best Robo for First-Time Investors. With no investment minimum and a 0.25% annual fee, their digital-only product is a strong choice for first-time investors. Betterment’s single-goal financial planning tools make it easy for first-time investors to plan for future financial success. In addition, Betterment offers various financial planning packages that provide personal consultations with a financial planner on an as-needed basis, so users only have to pay for personalized professional help as they see fit. It is important to recognize that as a client’s assets grow, so do their financial planning and management needs. Betterment’s tiered service model is very attractive since an investor can always upgrade to the premium service levels as their needs grow, without having to change advisors. Betterment users can also open savings and checkings accounts with Betterment Everyday. Deposits in the savings account earn 2.04% and are FDIC insured up to $1M.
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Posted on September 10, 2019
Winner: Fidelity Go
Runner-Up: Vanguard
Fidelity Go, followed by Vanguard, are the Best Robos from an Incumbent Financial Institution. While our analysis indicates that independent robo advice providers offer the most robust online platforms, Fidelity and Vanguard leverage their institutional might to offer a high-quality service based on proprietary funds for those who would rather entrust their money to larger, more established institutions.
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Posted on September 8, 2019
Winner: Wealthfront
Runner-Up: Personal Capital
Honorable Mention: Betterment
The best digital planning experiences continue to be offered by independent robo advisors. Wealthfront and Personal Capital stand above their peers by offering robust planning tools to clients and prospective clients alike. Both of these tools can handle complex, multi-goal plans that show users the interaction of all their goals in a single unified plan. These free digital planners also leverage automated account aggregation and provide users with a comprehensive view of their financial picture, regardless of where their assets are held.
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Posted on September 5, 2019
Winner: Fidelity Go
Runner-Up: Vanguard Personal Advisor Services
Honorable Mention: SigFig
Posted on September 5, 2019
Winner: Fidelity Go
Runner-Up: WiseBanyan
We awarded the Best Robo for Performance at a Low Cost to the top-performing robos over the prior two-year period: Fidelity Go and WiseBanyan.
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